It's safe to say that 2023 has not been the year of the meme coin. The world's two most popular meme coins -- Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) -- are both down for the year, at a time when Bitcoin (CRYPTO: BTC) is up almost 110%.
And yet, Shiba Inu investors continue to hold out hope that the dog-themed meme coin, now trading at the unbelievably low price of $0.000008, still has the potential to hit the $1 mark. For that to happen, a lot needs to go right. Here's a closer look at three key catalysts and their chances for success.
This might sound cynical, but the easiest path to success for Shiba Inu is simply hitching a ride on the Bitcoin rocket ship. Remember, we're talking about meme coins here. If you believe that Bitcoin is poised to go on a huge rally in 2024, then Shiba Inu could go along for the ride.
Source Fool.com