Shiba Inu (SHIB) Might Rally in 2023; here Are 3 Scenarios

Shiba Inu (SHIB) Might Rally in 2023; here Are 3 Scenarios

The performance of Shiba Inu prices in 2022 was something that you, as an investor, would not like to see. The devastation the token brought to investors has had numerous consequences for the small pass, and a recovery seems unlikely. However, losing hope is not something you want to do while moving on

Healthy holder composition

One of Shiba Inu’s most significant problems was the large number of speculative traders who reduced the asset’s value each time the SHIB went on the recovery path. With many “free” tokens floating around, the selling pressure on Shiba Inu has been exponential. They were increasing almost without reason. However, as the year progressed, most short-term holders left the network, leaving only dedicated investors and traders to hold the token, which could become the game-changer in 2023.

New inflows

Following the FTX implosion, Terra crash, and other industry developments, institutional investors exited the cryptocurrency market forever in the face of a lack of regulation and the uncertain future of the entire market. Fortunately, the situation may change in the new year as financial regulators actively work on new guidelines for the cryptocurrency industry. With the new wave of institutional assets, tokens like Shiba Inu could join the rally across the market.

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Oversold to ground

It’s no secret that Shiba Inu is among the most actively sold assets in the market, with most traders and investors shorting the token with everything they have. In retrospect, betting on the token’s demise was a wise decision. However, we could see the opposite effect of these actions once most of the existing short-selling volume is absorbed by large buying volume, leading to a short squeeze and subsequent recovery rally.

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