The whole crypto market has gone up and down a lot in 2022. Even though the market has been volatile this year, the popular meme coin Shiba Inu (SHIB) has been able to find some opportunities.
The market turmoil that has caused SHIB’s price to drop this year has not slowed down the project’s growth. Some of the best things about the project are the huge amounts of tokens that are burned, the large amounts of tokens that whales buy, and the rapid development in the SHIB Metaverse. All of these things have made it more likely that prices will go up.
In 2022, the mechanism for burning SHIB tokens has been stepped up in a last-ditch effort to cut down on the huge number of the viral meme coin. The Shibburn community has been the main force behind this project, and every day, several million SHIB are burned, which reduces the amount of SHIB available.
Related: Will 2023 be a great year for Dogecoin (DOGE) and Shiba Inu (SHIB)?
Also, whales have been very busy during this cycle of bears. IntoTheBlock says that SHIB investors who have held on to their SHIB tokens for at least a year are part of the group of “long-term holders.”
Even with the roller coaster, the Shiba Inu project will grow in 2023. This was first posted on Coin Edition.
