Shiba Inu’s 5 Biggest Catalysts in 2022 – The Motley Fool
Investors have witnessed history in a number of respects since March 2020. For instance, stock investors have watched the benchmark S&P 500 deliver the strongest bounce from a bear market bottom of all time. It took less than 17 months for the index to double from its trough.
But the gains and history have arguably been more impressive for cryptocurrency “hodlers” (a term that affably describes crypto token holders). The aggregate value of all digital currencies rocketed from $141 billion in March 2020 to $2.42 trillion, as of late evening on Dec. 3, 2021.
Yet the real jaw-dropper is meme coin Shiba Inu (CRYPTO:SHIB). SHIB tokens could be purchased at midnight on Jan. 1 for just $0.000000000073. But as of this past weekend, six of these zeroes had disappeared and Shiba Inu coin was changing hands for $0.00003962. That works out to a year-to-date gain of 54,273,873%. Put another way, a $2 investment at midnight on New Year’s Day would have made you millionaire, as of Dec. 3.
Despite these historic gains, the impassioned “SHIBArmy,” which has grown to more than 1 million hodlers, according to wallet address data from Etherscan, is looking for continued upside in their coin in 2022. While there have been a number of fleeting catalysts throughout 2021, including tweets from the world’s richest person, Elon Musk, the following five catalysts are likely to be Shiba Inu’s biggest momentum drivers in 2022.
1. AMC’s accepting SHIB tokens
In late November, online tech-focused retailer Newegg Commerce announced that it would be accepting SHIB tokens as a form of payment by “early December.” That means Shiba Inu will join Bitcoin, Dogecoin, and Litecoin as accepted digital currency payment options.
However, the bigger rollout is likely to be the incorporation of SHIB tokens as a form of payment for movie theater chain AMC Entertainment (NYSE:AMC). AMC is arguably a better-known global brand, and therefore a superior test of real-world utility for Shiba Inu coin.
In late October, AMC CEO Adam Aron posted a poll on Twitter that asked users whether his company should accept SHIB for online payment. Of the 153,100 respondents, 87.6% were in favor of the move, in some capacity. Aron tweeted in mid-November that AMC would integrate SHIB for payments within 60 to 120 days. That puts it on track to be accepted by sometime in the first quarter of next year.
2. The expected launch of Shibarium
Another clear-cut catalyst …….