Currently, Shiba Inu is trading at around $0.00001302, and boy, it’s been busy. In the last 24 hours alone, it’s seen a trading volume of $152 million, making its market cap a whopping $7.68 billion. With a market dominance of 0.40%, Shiba Inu’s price has seen a slight increase of 76% in the past year.
Now, let’s talk milestones. Shiba Inu hit its highest price ever on October 1st, 2021, reaching an all-time high ever of $0.000088410 and $0.000045633 this year on March 1st, 2024. That’s quite a peak! On the flip side, its lowest price was recorded on November 28, 2020, when it dipped to an all-time low of $0.0000105637. Since then, it’s had its ups and downs, with the lowest point since its all-time high hitting $0.000005808 on June 1st, 2023 (what a rollercoaster!). On the brighter side, it managed to keep an upper level despite last August’s lows of $0.000010806.
In terms of predictions, the sentiment surrounding Shiba Inu’s price is currently bullish. People are feeling pretty optimistic about its future.
When it comes to supply, there’s currently about 589.27 trillion SHIB tokens in circulation out of a maximum supply of 589.518 trillion SHIB.
SHIB Price Prediction: Why Could the SHIB Price Explode Further?
In a bear market, speculative meme coins tend to take a big hit as there’s minimal interest from speculators and new investors in the crypto space. However, in the past few days, Bitcoin’s price has surged dramatically, nearly reaching its all-time high once again.
This resurgence has reignited interest in the crypto market overall. During bullish phases like this, the most speculative cryptocurrencies, often referred to as memecoins, tend to skyrocket. It’s worth noting that both Dogecoin and Shiba Inu have experienced significant losses compared to other altcoins over the past two years. But recently, both have seen remarkable price surges, defying previous trends.
SHIB Price Prediction: SHIB Price Eyeing $1 After Bitcoin Halving?
With SHIB’s price currently at $0.000013 and having surged by a remarkable 26% this year alone, it’s clear that momentum is on its side. Over the past year, SHIB has shown substantial growth, with a 76% increase, outperforming most of the top 100 crypto assets during this period.
Moreover, with high liquidity based on its market cap, SHIB appears well-positioned to capitalize on market opportunities. Considering these factors and with the Bitcoin halving that occurred in April 2024, SHIB may indeed have its sights set on reaching $1 after this significant event.
Yet, the current price of SHIB represents a significant price gap from the target of $1. This gap highlights the vast difference that would need to be bridged for SHIB to reach such a high value.
In fact, the price would need to increase by over 76,000 times its current value to reach $1. While SHIB has shown impressive growth recently, achieving such a monumental increase in price would require an unprecedented surge in demand and buying pressure. Additionally, it’s essential to consider the market mood and potential challenges that could impede such a substantial price jump. Therefore, while $1 may be an aspirational goal, the current price gap suggests that reaching this milestone would require extraordinary circumstances and may not be realistic in the foreseeable future.
Where to Buy SHIB?
For individuals eager to enter the cryptocurrency market, Bitget emerges as a reliable platform. Offering low fees, a user-friendly interface, and a straightforward onboarding process, Bitget provides a convenient experience for both novice and seasoned traders. Whether you are an experienced investor or a newcomer, Bitget offers a streamlined avenue to buy and trade cryptocurrencies in the dynamic and rapidly evolving market.
Source: https://cryptoticker.io/en/shiba-inu-price-shib-price-eyeing-1