We Asked ChatGPT if Shiba Inu (SHIB) Can Become a Top 10 Cryptocurrency This Year
The post We Asked ChatGPT if Shiba Inu (SHIB) Can Become a Top 10 Cryptocurrency This Year appeared on BitcoinEthereumNews.com.
TL;DR Shiba Inu’s potential return to the top 10 hinges on expanding its ecosystem, like the continued progress of its L2 scaling solution, Shibarium. However, it faces growing competition from other meme coins. Dogecoin (DOGE), which seems poised for a good year due to Musk’s involvement in politics, remains its biggest rival. The Necessary Factors The popular meme coin performed quite well in 2024, and at one point, it had secured a position among the top 10 largest cryptocurrencies by market capitalization. Over the past several months, though, many of its rivals surpassed it. The self-proclaimed Dogecoin killer is currently the 19th-biggest digital asset, and we asked ChatGPT whether it can return to the top 10 club in 2025. The AI-powered chatbot said this is possible but requires several vital factors to be in place. First, it claimed that SHIB could climb the crypto ladder if its ecosystem continued to expand this year. One example is the further progress of the layer-2 scaling solution, Shibarium. The protocol, whose ultimate goal is to foster the development of the meme coin, recently reached a new milestone. As CryptoPotato reported, the total transactions processed on the network exceeded 800 million. Next on ChatGPT’s list is the potential growth of SHIB’s community in the next 12 months. The SHIB Army consists of millions of investors, developers, and proponents, and their collective actions, both positive and negative, can affect the token’s market performance. Third, the chatbot estimated that SHIB’s eventual rally this year would also depend on the overall crypto market conditions. The current bullish environment and the upcoming pro-crypto president of the United States – Donald Trump (according to his presidential campaign) – suggest that the following months could be beneficial to the industry. However, only time will show whether this will be the…
Filed under: News - @ January 18, 2025 7:16 am