Shiba Inu Price Prediction: Could SHIB’s Massive Supply Burn Propel It to $0.01?

The post Shiba Inu Price Prediction: Could SHIB’s Massive Supply Burn Propel It to $0.01? appeared first on Coinpedia Fintech News

As Shiba Inu (SHIB) experiences a recent price dip, trading currently at $0.00001334, investors are keenly watching for a potential recovery. Despite the current drop, a prominent figure in the SHIB community, Lucie, has boldly predicted that SHIB will eventually reach $0.01, regardless of ongoing fluctuations.

Analysts Predict SHIB To Hit $0.01

In the face of a challenging Q3 2024, Shiba Inu’s earlier performance performance is hard to ignore. Starting in early March, SHIB’s price skyrocketed to $0.000035, marking a remarkable 144% surge within just one month.

However, Lucie pointed out the time when Shib was trading at $0.00000543 in Q3 2023 which later saw an impressive gain of 586% making Shib’s price climb to $0.0000359 in Q1 2024. This impressive increase has greatly boosted Lucie’s confidence, raising hopes that SHIB might continue to climb and reduce more zeros from its price to reach $0.01.

Looking ahead, Changelly projects that SHIB could reach $0.01 between 2033 and 2040. On the other hand, Gemini, supported by Google’s AI, forecasts a more optimistic scenario, suggesting SHIB might hit $0.001 within the next 12 months if it sustains a 230% monthly rally. 

Meanwhile, analysts Jason Williams and Yazan XBT predict that SHIB could exceed $0.01 by next year, presenting one of the most ambitious timelines for achieving this goal.

When Will SHIB Hit $0.1

While the $0.01 goal seems distant to some, Lucie from the Shiba Inu project remains confident in its feasibility. With SHIB trading at $0.0000133 as of now, the token would need an extraordinary price growth of 73,483% to hit $0.01. 

However, the massive circulating supply of 589 trillion SHIB tokens presents a significant challenge. To approach the $0.01 mark, SHIB would need to burn at least 90% of its circulating supply.

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