Despite Shiba Inu’s recent price plunge, some analysts still believe the token could hit $0.000712, $0.00769, and $0.025 in the future.
The broader crypto market is currently undergoing a massive onslaught, which has wreaked havoc on the prices of various tokens, including Shiba Inu (SHIB).
At the time of writing, Shiba Inu has shredded 4.2% of its value in the past 24 hours, dropping to a price of $0.00000943. Similarly, the canine-themed token is also down 2.26% in the weekly charts.
Despite its recent price plunge, Shiba Inu is still one of the top crypto assets with massive hype. Since Shiba Inu’s launch in 2020, crypto analysts have been releasing jaw-dropping predictions for the token’s price.
Shiba Inu Potential Rally to $0.000712, $0.00769, and $0.025
The most recent predictions for Shiba Inu include its potential rally to $0.00071, $0.00769, and $0.025, respectively. This article will assess these predictions and highlight the potential timelines for Shiba Inu to reach the targets.
SHIB to $0.000712
Analysts from the popular crypto exchange Changelly provided the $0.000712 price prediction. According to these experts, Shiba Inu could hit the $0.000712 target by 2030, six years from now.
Hitting the $0.000712 price is an uphill battle for SHIB. Notably, for the token to clinch this projected price, it would need to rally over 7,450% from its current price of $0.00000943.
In addition, the $0.000712 projection is also 704% above SHIB’s all-time high of $0.00008845, recorded on October 28, 2021.
Shiba Inu’s $0.00769 Price Target
Another price projection compiled by The Crypto Basic is Shiba Inu’s potential rally to $0.00769. Like the first prediction, Changelly experts recently gave the $0.00769 forecast.
Interestingly, they believe that Shiba Inu could reach the target in 2040, approximately 16 years from now.
The $0.00769 projection is a more daunting task compared to the $0.000712 forecast. This is because Shiba Inu must rally over 81,448% from its current price to reach this target.
In addition, Shiba Inu will need to move 8,594% above its peak price of $0.00008845 before reaching the projected $0.00769 price.
Road to $0.025
Lastly, Shiba Inu’s potential rally to $0.025 or 2.5 cents is the last prediction we will cover in this article, representing the most ambitious target. The 2.5 cents prediction was given by another set of experts from Telegaon.
These analysts see SHIB hitting the $0.025 target by 2040. For this prediction to come true, Shiba Inu will need a rally of over 265,000% from its current price. Also, the canine-themed token must surge by over 28,164% from its ATH to reach the 2.5 cents price.
Can SHIB Reach the Projected Prices?
Reaching the projected prices of $0.000712, $0.00769, and $0.025 could prove difficult for Shiba Inu, given its enormous circulating supply.
However, Shiba Inu has seen more substantial gains since its inception, including rallying 11,528,282% from its all-time low recorded in September 2020.
Before the asset can push toward the $0.000712, $0.00769, and $0.025 targets, an enormous amount of its circulating supply would need to be burned.
Despite incinerating over 410.7 trillion SHIBs so far, Shiba Inu still has a huge circulating supply of 581.29 trillion tokens, according to data from Shibburn.
With the ecosystem team planning to launch an automated Shibarium burn portal very soon, it is expected that the solution will intensify SHIB burns and drastically reduce the circulating supply.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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