While many analysts doubt Shiba Inu will ever reach $0.01 or $1, a few still believe those targets are attainable.
Despite Shiba Inu’s lackluster performance, several market watchers still believe the token could pull off another major rally that will stun the broader crypto market. This confidence stems from how Shiba Inu stole the show in the 2020/2021 bull market, leading to a price growth of over 150,000,000%.
Nearly four years have passed since that epic rally, yet community sentiment and analyst forecasts still envision SHIB reaching ambitious future targets such as $0.01 or even $1.
Recent Performance
As of 6:26 a.m. (UTC) on June 21, Shiba Inu was changing hands at $0.00001138 per token. This represents a slight decline of 1.57% over the past 24 hours and 6.09% in the past week. However, Shiba Inu’s decline in the past month stands at 24.03%.
Data from CoinMarketCap shows that SHIB is ranked as the 19th-biggest cryptocurrency in the market, with a valuation of $6.7 billion. Despite SHIB’s underperformance, market watchers believe Shiba Inu is still capable of reaching ambitious targets, such as $0.01 and $1.
Shiba Inu to $0.01 Prediction
The $0.01 price prediction has gained dominance within the Shiba Inu community, with enthusiasts labeling it the “one-cent dream.”
Hitting the $0.01 target would require Shiba Inu’s price to soar 87,773% from its current level of $0.00001138. If Shiba Inu’s supply remains at 589.25 trillion tokens and its price rises to $0.01, the token’s market cap will soar to $5.89 trillion.
Despite the monumental growth required for this prediction to materialize, several market watchers believe the one-cent dream is feasible.
Earlier this month, Luis Delgado speculated that Shytoshi Kusama, the lead developer of Shiba Inu, has several initiatives lined up that could propel SHIB’s price to $0.01.
In a previous report, Delgado predicted that SHIB would reach the $0.01 target in its lifetime, emphasizing that anything is possible in the cryptocurrency market. Moreover, he suggested that SHIB was designed to trade around the $0.01 target.
Besides Delgado, Shiba Inu’s marketing lead, Lucie, indicated that the $0.01 price is a realistic target for SHIB. However, while Lucie believes SHIB can clinch the target, she emphasized it would take time before the prediction materializes.
The $1 Price Forecast
While market watchers debate whether Shiba Inu can ever reach $0.01, some community members are targeting the more ambitious $1 milestone. This represents a massive surge of 8,787,246% from $0.00001138, where SHIB currently trades. At $1, Shiba Inu’s market cap will surpass $589 trillion due to its enormous supply.
It is worth noting that the $1 prediction is less popular than the $0.01 forecast.
As previously reported, Lucie shared ChatGPT’s take on Shiba Inu’s potential surge to the $1 mark, indicating that the forecast is within the realm of possibility. Notably, Delgado suggested that market watchers would shift their attention to the $1 target once Shiba Inu eventually rises to $0.01.
Additionally, popular cryptocurrency exchange CoinW speculated that Shiba Inu could rally to the $1 mark. The exchange framed its bullish SHIB forecast as a poll, asking followers which of its recent predictions—including Bitcoin hitting $100,000 and Cardano soaring to $5—will occur first.
Notably, ChatGPT emphasized that Shiba Inu’s potential surge to the $1 mark is a challenge and not a joke. It suggested that hitting the ambitious target requires the alignment of several factors, ranging from broader market bull run, extensive token burns, and widespread SHIB adoption.
However, popular TradingView analyst TradeCityPro referred to the $1 prediction as an unrealistic target for SHIB. He contended that hitting the $1 target will push SHIB’s valuation to $589 trillion, surpassing the valuation of top financial instruments like gold, Bitcoin, and silver.
Timeline for Shiba Inu’s Surge to $0.01 or $1
Although Lucie and Delgado consider $0.01 and $1 prices realistic targets, they did not specify when SHIB could achieve the milestone.
As a result, we consulted entities such as Changelly and Telgaon to determine when these predictions might come to fruition. According to Changelly, Shiba Inu is expected to reach the $0.01 price region by September 2040, approximately 15 years from now.
However, the trading platform offered no timeline for SHIB to hit $1, underscoring its skepticism about the forecast.
Meanwhile, Telegaon also believes the one-cent dream will materialize by 2040, with SHIB’s price projected to reach a maximum target of $0.08 by the end of that year. For the $1 prediction, Telegaon speculated that Shiba Inu would reach the target by 2050. It expects Shiba Inu to surpass the $1 price toward an ambitious target of $1.06 by then.
Can Shiba Inu Reach $0.01 or $1?
Despite the optimistic forecast, it remains to be seen whether Shiba Inu will ever hit the $0.01 or $1 price targets. Notably, several experts believe that the estimates will remain a dream unless Shiba Inu witnesses a significant reduction in its 589.25 trillion token supply.
As stated earlier, if the supply remains stable, Shiba Inu’s market cap will rise to $5.89 trillion at the $0.01 price, surpassing the valuation of the global crypto market. Similarly, the $1 price will increase Shiba Inu’s market cap to $589 trillion, exceeding the global money supply, which stood at $129 trillion as of Q2 2024.
Therefore, prominent Bitcoin advocate Davinci Jeremie suggested that Shiba Inu will never reach these ambitious targets until a massive chunk of its supply is burned.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
