The rate will go up, if only this coin will suddenly become wildly popular among private coin lovers. But why do they need SHIB when they have Monero? People who value privacy will choose Monero. SHIB is a memcoin that has grown through social media shilling. Most people don't care about its utilitarian features, they only care about the difference between the purchase price and the sale price.
I think you're right. Being myself a fan of Monero and Crypton, which are from the very beginning structured as privacy coins, I feel unconscious about such attempt to make coin private.