Shiba Inu (CRYPTO: SHIB) is a quintessential meme cryptocurrency -- it earned that reputation not for its utility as a currency, but for the speculation that drove it to a historic 43,800,000% return during 2021. Investors with perfect timing would have become millionaires for the cost of a cup of coffee. 

But what followed in 2022 was the polar opposite, with the token nursing a year-to-date decline of 76%. This story isn't entirely unique to Shiba Inu, though, because the entire cryptocurrency industry is in a deep freeze right now, with its total value of $810 billion far below its all-time high of $2.9 trillion set last year.

Nonetheless, Shiba Inu does face many of its own challenges. With that said, where might its price head in 2023?

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Source Fool.com