Shiba Inu (SHIB), once a high-gaining token in the crypto industry, has had a challenging year in 2023. The token has been experiencing a downward trend, setting lower highs and struggling to gain momentum. As the year comes to a close, analysts are divided on whether SHIB will experience a price breakout or remain in a slump while other cryptocurrencies thrive.Currently, SHIB is trading at $0.000008314, with a modest 1.6% gain in the past day. In comparison, other tokens like Terra Classic and Stacks have recorded significant gains of 65% and 30% respectively. Even the leading meme coin, DOGE, has gained twice as much as SHIB. Despite some positive developments such as a record burn of 264 million tokens, the price of SHIB has failed to ignite.To determine the future price movement of SHIB, analysts are turning to technical charts. The token’s price pattern has been trapped in a descending resistance trend line, with each price surge resulting in lower highs. However, there is a glimmer of hope as SHIB has formed a slightly ascending support line since June. The convergence of this support line with the descending resistance trend line will play a crucial role in determining the token’s price direction.In such situations, analysts often rely on the relative strength index (RSI) to predict price movements. If the RSI is above 50, it indicates that the bulls are in control and the price is likely to rise. However, SHIB’s RSI has been hovering around this level for days, currently standing at 53.22, suggesting a slight advantage for the bulls.The future of SHIB depends on its ability to move beyond its reputation as a meme coin primarily used for speculation. The project’s team has been working diligently to change this perception, and the launch of the Shibarium Layer 2 network is a testament to their commitment. Lead developer Shytoshi Kusama envisions attracting a billion users to Shiba Inu through real products and a focus on privacy and legal compliance.Kusama’s vision is gradually becoming a reality, as the number of addresses on the network has surged from less than 8,500 to 1.3 million in the past two years. It remains to be seen whether SHIB can successfully transition from a meme coin to a more substantial player in the crypto space.Disclaimer: This summary is based on the provided context information and does not endorse any specific content, accuracy, or quality. Readers are advised to conduct their own research before making any decisions related to cryptocurrencies.