Shiba Inu (SHIB) holders could be in for a treat, with a popular analytics platform hinting at when the cryptocurrency might surpass $0.089
Shiba Inu (SHIB) is one of the most widely held cryptocurrencies. On-chain data shows that there are over 1.3 million addresses holding the token. Yet, a large fraction of SHIB holders currently have their holdings trading below their entry price, with only around 37% of investors in profit.
For the many still struggling to break even on their investment, predictions provide a basis for optimism that the cryptocurrency would get back to its glory days.
Interestingly, blockchain analytical platform Telegaon recently updated its numbers for SHIB, offering potential insight into how the cryptocurrency will perform in the coming years.
SHIB is currently trading at $0.00001044, having held above the psychological $0.00001 mark for the past few days. The current sustained growth is expected to provide a stepping stone for SHIB to reach forecasted future prices.
It is noteworthy that Telegaon forecasts that the price of SHIB has the potential to surge even before the end of this year. For instance, SHIB could rise as high as $0.0000216 based on the forecast but should maintain a minimum value of $0.0000121 by the end of the year.
SHIB Projected to Hit $0.089 By 2040
Looking beyond its current prices, Telegaon predicts that SHIB will witness a remarkable surge in the coming years.
The growth would be led by the wide adoption of SHIB by some of the most popular companies. The periodic burning of SHIB tokens by exchanges and the SHIB team would also be a catalyst for the growth, the report suggests.
By the end of this decade, Telegaon predicts that SHIB will have a minimum price of $0.000593 per token, eliminating one zero from its current price and posting additional gains.
The prediction would mean that SHIB will gain 600% more than its previous high of $0.00008845 recorded in November 2021.
Meanwhile, the blockchain project could see its token soar as high as $0.089 by the end of the following decade, 2040. Telegaon predicts that the Shiba Inu team would, at that point, have burned the majority of the token’s supply, making such an outcome realistic.
Even in the event of bearishness, the forecasts suggest a minimum SHIB price of $0.054, with the SHIB token supply at that time expected to accommodate such a valuation.