Shiba Inu is projected to soar to lofty price targets, including 50 cents, as community enthusiasm remains unfazed.
Despite its low price at the moment, members of the ShibArmy are optimistic of the future potential of the token. Shiba Inu has a very vibrant community and the protocol has made several attempts to transform its outlook from a meme coin to a decentralized ecosystem.
Beyond the desire to see Shiba Inu retest its All-Time High (ATH) of $0.00008845 soon, crypto analytics platform Telegaon has hinted at the potential timeline for the token to hit more ambitious targets such as $0.5.
SHIB to $0.5: Price Tag Worth Pursuing?
According to insights from Telegaon and per earlier reports, Shiba Inu could chart an upward trend to $0.01 anytime from 2030 to 2040. The platform highlighted how higher price targets would take a longer time to actualize.
In its long-term forecast, Telegaon projected that Shiba Inu is likely to have a maximum price of $0.089 by 2040. This price is poised to grow to a minimum of $0.62 by 2050, breaking the major 50 cents barrier.
The Telegaon projection appears overblown, especially in the timeline. Notably, AI protocols Google Bard and ChatGPT have a more modest time projection for when Shiba Inu is likely to retest the 50 cents mark.
For Google Bard (now Gemini), the most feasible scenario for Shiba Inu to touch 50 cents is pegged at 5 to 10 years from now with a probable rapid growth shortening the timeline to a range of 1 to 2 years.
Meanwhile, ChatGPT maintained that this achievement could be attained in 2 to 3 years on the back of increased adoption.
Dealing With the Supply Boom
Attaining a $0.50 price mark from the current price of $0.000009475 is a big task that could take the current market cap of $5,583,075,456 to trillions of dollars, considering the current circulating supply pegged at 589,289,853,540,001 SHIB.
It is unrealistic for SHIB to hit this 50 cents valuation unless there is an aggressive elimination of the excessive supply through burning. For this reason, the ecosystem team is already making a move to actualize an automated burning mechanism through Shibarium burn portal.
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