Shiba Inu became the darling of the cryptocurrency industry in 2021 when it generated a gain of 43,800,000%, which could've made millionaires out of investors for an outlay of just $3, assuming their timing was perfect. 

But risk appetite evaporated from the financial markets in 2022, which sent speculative assets like Shiba Inu plunging, and the token remains 89% below its all-time high. Certain realities about its lack of mainstream adoption are also setting in, which is hindering any recovery attempts.

But sentiment surrounding the broader crypto industry has improved in 2023, so could Shiba Inu stage another historic run? There might actually be a way the token could soar to $1, but it won't have the effect most investors think it will. Here are the details. 

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Source Fool.com