The Shiba Inu (SHIB) token, often dubbed the “Dogecoin killer,” has been a subject of intense speculation in the crypto community.
As investors and enthusiasts eagerly watch its price movements, many wonder when this popular memecoin might reach the coveted $0.001 mark, effectively erasing two zeros from its current valuation.
Changelly price prediction for Shiba Inu
According to data from CoinMarketCap, Shiba Inu is currently priced at $0.000014, ranking 13th in the overall cryptocurrency market. With a market cap of $8.25 billion and a circulating supply of 589,271,878,642,392 SHIB, the token has comparatively been on muted price performance lately.
Recent performance has been particularly discouraging for SHIB holders. Over the past week, the token has spiked by 2%. Interestingly, the second-largest meme coin lost almost 18.5% value in the last 30 days.
Looking ahead, Changelly’s technical analysis offers some insights into SHIB’s potential trajectory. For 2024, they project a minimum price of $0.0000144, a maximum of $0.0000227, and an average trading price around $0.0000310. While these figures represent notable growth from current levels, they still fall short of the $0.001 target.
So, when might SHIB hit that elusive $0.001 mark? Changelly’s long-term forecast suggests this milestone could be reached by January 2040. While this projection is exciting for SHIB enthusiasts, it underscores the long-term nature of such an ambitious price target.
It’s important to note that these predictions, while based on technical analysis, are speculative.
For SHIB to reach $0.001, it would need to overcome major hurdles, including increased adoption, expanded utility, and potentially some token burning to reduce supply.
Also Read: How to Sell DOGS Memecoin? USDT & Other Alternatives
Source: https://www.cryptonewsz.com/when-can-shiba-inu-erase-two-zeros-and-hit-001/