“SHIBs often benefit from the flow of sector-wide speculation, rather than needing their own news first,” Perplexity said.
It was in late 2021 that the self-proclaimed Dogecoin killer shocked the crypto world with a massive price spike, pushing its market cap to over $40 billion.
However, that peak did not last long, and the Shiba Inu headed south, making an apparent comeback in 2024 (though it did not reach its historic peak). The past year has been nothing short of disappointing for the token, with its price dropping 60%. There may be a lot of mistrust within the community right now, but we asked three of the most popular AI-powered chatbots what could spark a big comeback.
catalyst
According to ChatGPT, SHIB is no longer seen purely as a meme coin, meaning its future increasingly depends on its ecosystem being used in the wild. One of the main factors that could facilitate the resurgence is the mass introduction of sybarium.
The Layer 2 scaling solution was specifically designed to evolve the Shiba Inu ecosystem by reducing transaction fees, increasing speed, and enhancing scalability. Officially launched in the summer of 2023, it generated significant early interest and facilitated millions of dollars in transactions every day. But last year, the protocol was exploited and the numbers have since dropped significantly.
Next on ChatGPT’s list is the Shiba Inu mechanism, adding that the “huge supply” of meme coins has always been the biggest problem.
“The burn rate could accelerate dramatically if everyday activities such as gaming, payments, DeFi, and AI apps become huge. A true resurgence would require the market to believe that supply could likely shrink significantly over time,” he added.
Last but not least, the chatbot assumed that the introduction of the Spot SHIB ETF could have a positive impact on the price of the token as it attracts more investors into the ecosystem. Recall that US regulators have already approved the launch of such products with underlying assets of ETH, XRP, SOL, DOGE, and other altcoins.
Perplexity agreed with ChatGPT’s statements regarding burn rate and Shibarium’s role, adding that the resumption of meme coin season could also greatly benefit SHIB.
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“When Dogecoin, Pepe, and similar coins start to break out all at once, SHIB often benefits from the flow of speculation across the sector, rather than needing its own news first.”
“Bitcoin effect” etc.
The third chatbot we consulted with was Google’s Gemini. The magazine suggested that SHIB’s next breakout will depend primarily on Bitcoin’s price movements, noting that the meme coin has matured to the point where it is unlikely to reach the moon on its own.
“When Bitcoin (BTC) hits new all-time highs and market liquidity increases, ‘hot money’ typically circulates from Bitcoin to Ethereum to high-risk, high-reward meme coins like SHIB,” the report said.
Gemini also touched on the importance of whale activity. He argued that without the involvement of major investors, the chances of Shiba Inu making a clear comeback are limited.
