The cryptocurrency ecosystem recorded different cycles of growth this year with most assets finishing the year on a far more bullish note than they started the year with. While the industry saw some high fliers like Bitcoin (BTC) and Solana (SOL) outperform general expectations, many can best be described as “overhyped.”
This piece examines 3 of the most overhyped cryptocurrencies of 2023 and what the future holds for them in the coming year.
Top Hyped Cryptocurrencies: Shiba Inu
Shiba Inu started as a memecoin project but has transformed into one of the most respected protocols driving the evolution of crypto infrastructures. This year, Shiba Inu launched Shibarium, its Ethereum-based layer-2 scaling solution through which it hopes to drive massive adoption that can help bolster the utility of Shiba Inu.
While Shibarium has managed to deliver on some of its promises after a very rough start, the protocol has had limited impact on the price of SHIB since its launch in August.
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