Jan 4th 2023

Based on SHIB's price chart, it has long been due a rebound to correct months of selling. Its relative strength index (purple) has spent months below 50 (or lower), although its recent ascent signals that we may be at the start of a rally.

Similarly, its 30-day moving average (red) has remained below its 200-day average (blue) for pretty much all of the past 12 months, again indicating that it really should break out and rise again in the near future.

Recent developments within the Shiba Inu ecosystem suggest that such a breakout may be closer than some think. As mentioned above, the Shibarium Network is due to launch its beta in the coming weeks, although the team hasn't provided a specific date or window.

This is a major development for Shiba Inu since up until now the Ethereum-based cryptocurrency has suffered (like many other platforms) from relatively high Ethereum gas fees. However, with the launch of Shibarium, it will become much faster and much more affordable, something that should facilitate further uptake and use of SHIB.

The rollout of Shibarium is set to arrive at just the right moment in time for Shiba Inu, which is also looking forward to its very own metaverse. The latter continues to undergo steady development, with its team releasing a steady stream of concept art and demos in 2022, while also welcoming the New Year with the promise that "we can't wait to share more developments" on the road towards launching.

Assuming SHIB: The Metaverse does launch this year, it will cause a major SHIB rally. Indeed, the altcoin posted a 58% rise in early February, for example, with the announcement of its own metaverse being the major driver.

It also jumped by 25% between mid and late March, while August brought a 64% increase, as the meme token rose from $0.00001032 to $0.00001695 in a matter of days. This was all because the metaverse team shared new updates, implying that the platform's release will cause a massive rally.

For members of its community, there's an expectation that SHIB could eventually rise as high as $0.001 this year. This would imply a gain of over 10,000% against its current price, something which isn't impossible, but which would almost certainly mean SHIB would have to be the best-performing top-100 coin of the year.

In the shorter term, some analysts are predicting that SHIB may witness a 30% rise by the end of January, which would take it to around $0.000011, meaning it would lose one zero.