Yes, Shiba Inu (SHIB) can drop a zero from its price in 2024, provided it can rally more than 400% from the current level of $0.0000199. However, can SHIB rally 400% in 2024? No. It is unlikely for Shiba Inu to surge that high due to the competitive landscape of dog and cat-themed cryptocurrencies.
Can Shiba Inu (SHIB) Drop a Zero From its Price in 2024?
In 2021, Shiba Inu surged 2,140% in just 50 days, allowing it to drop a zero as the SHIB price went from $0.000004 to $0.000089. During this phase of the bull market, although there were many dog-themed cryptocurrencies, SHIB stood out due to its marketing efforts and bull market optimism.
A lot has changed since 2021. The crypto investor mindset has shifted and there are plenty of opportunities to invest in these days. In addition to dog-themed crypto, there are frog and cat-themed crypto. The 2024 US presidential elections have also birthed a different breed of cryptos to focus on. As a result, the liquidity is fragmented. Hence, the chances of Shiba Inu dropping zero from its price in 2024 are slim.
Although the fourth quarter is bullish for cryptocurrencies in general, it is unlikely that SHIB’s price has the capacity to rally high enough to drop to zero.
When Will Shiba In (SHIB) Eat a Zero?
If the Bitcoin (BTC) outlook improves in 2025 and kickstarts a bull rally, the chances will improve vastly for SHIB. As mentioned in the Mars-Vesta Cycle theory, Bitcoin price could hit $100K by August 2025. During the peak bull market conditions, when the participants are euphoric, the Shiba Inu price prediction indicates that SHIB would need to rally more than 400% from the current level of $0.0000199 to drop a zero from its price.
All in all, 2025 seems like a good year for SHIB to drop a zero from its price with a Bitcoin price rally contingent, as mentioned above. Here are some SHIB rivals that offer better risk-to-reward ratios for investors looking to grow their portfolios in 2024.
Frequently Asked Questions (FAQs)
Yes, but it requires a 400% rally from its current price level, which is unlikely due to the competitive cryptocurrency landscape.
SHIB’s marketing efforts and bull market optimism helped it stand out among dog-themed cryptocurrencies, leading to a 2,140% surge in 50 days.
2025 is a more likely year for SHIB to drop a zero, contingent on a Bitcoin price rally, potentially reaching $100K by August 2025.
Akash Girimath
Akash Girimath, an engineer by training, has developed a deep fascination with the complexities of cryptocurrency markets. As a senior reporter and analyst, he specializes in crypto analysis and contributes his expertise to notable platforms such as AMBCrypto and FXStreet. In addition to his analytical work, Akash actively trades cryptocurrencies and manages a small crypto fund for friends and family. His role involves providing insightful market analysis and keeping readers informed about the latest trends in the crypto world. Follow Him on Youtube , X and LInkedIn
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/is-it-possible-for-shiba-inu-shib-to-drop-a-zero-from-its-price-in-2024/
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