Shiba Inu (SHIB) has been one of the best-performing cryptocurrencies over the past few years. It is also the second-largest meme coin by market cap, bested only by Dogecoin (DOGE). In this price prediction guide, we will explore the coin’s details.
SHIB’s Recent Performance
Over the past two years, SHIB has encountered numerous difficulties. The asset’s price is currently down 16% on the weekly charts and 19% from the previous month. SHIB is also down by 84.5% from its 2021 peak of $0.00008616.
Despite the asset’s dismal results in recent years, SHIB supporters and investors are still chasing higher prices. The $0.0001 level, representing a surge of almost 670% from current levels, is one such goal for the SHIB community.
Also Read: Shiba Inu: How To Make $1 Million If SHIB Reclaims $0.000086?
Forbes Prediction for SHIB
According to Forbes analysts, Shiba Inu (SHIB) could breach the $0.0001 level in 2029, about five years from now. The platform anticipates the dog-themed crypto hitting a high of $0.000161 for the year.
Potential for Earlier Surge
According to Forbes’ analysis, if market conditions are favorable and the project continues to develop, SHIB’s price could surge to $0.0001-$0.0003 much earlier, between 2024 and 2025.
Other Predictions for SHIB
According to Changelly’s researchers’ price prediction, SHIB could breach the $0.0001 level by 2027, about three years from now. The platform predicts the asset will hit a maximum price of $0.000122 in 2027.
Telegaon analysts make a similar price prediction for SHIB, claiming that the asset will peak at $0.00019 in 2027.
Also Read: Shiba Inu: $1 Monthly Since 2020 Is Worth $1.3 Million This August
One significant barrier to Shiba Inu’s price is its massive circulating supply. There are about 589 trillion SHIB tokens in circulation right now. The SHIB team reportedly works on a new burn mechanism, which is rumored to destroy trillions of tokens yearly.
If the team substantially decreases the project’s supply, the asset could hit the $0.0001 target even sooner than predicted.
The asset will also need to witness an increase in adoption for prices to rally.
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