Shiba Inu (SHIB) price predictions spark interest

This meme coin's proponents have long named it “the Dogecoin killer”, predicting that it would outpace the other doggy-themed meme coin.

Shiba Inu is one of the most popular and biggest cryptocurrencies, being considered the toughest rival of Dogecoin. This meme coin’s proponents have long named it “the Dogecoin killer”, predicting that it would outpace the other doggy-themed meme coin. At its core, SHIB represents a Dogecoin spinoff, created as a mockery itself in 2013 to ridicule the crypto craze of those times. While it lacks practical use, its increasingly rising price has catapulted it into the top 20 cryptocurrencies by market cap. At the moment of writing, SHIB, the native token of the Shiba Inu network, boasts a $7.24BN market capitalization – a far cry from its doggo-based opponent.

Shiba Inu price predictions spark interest in all sorts of traders, investors, and the crypto-curious. The most courageous scenario envisions SHIB listed at a market price of $0.01 – a figure that would necessitate the crypto to shed many zeroes to value such a fortune.

Whether this goal is feasible or not, remains to be seen. Nothing can guarantee the realization of even the most moderate predictions, but staying updated with analysts’ findings and market news is sure to help create more realistic expectations.

The following assesses what some market pundits believe about a potential value of $0.01 of Shiba Inu to help you determine whether you should learn how to buy Shiba Inu and introduce it in your investment portfolio.

SHIB needs an 82,001% rally to value $0.01

SHIB would need a rally of 82,010 to hit the astronomical price of $0.01. For many, this is a far-fetched dream. Yet, a reputed market analyst known under the X account name of Del Crxpto highlighted that the crypto market has often transformed the wildest dreams into reality. Cryptocurrencies that would’ve never been thought to increase so much have eventually taken the world aback with incommensurable price increases – and SHIB is no exception. The asset breached its ATH after winning 2,210,150% – the equivalent of almost 27 similar rises. The analyst has been resolute in their statement that such a price boost is feasible in a tweet on platform X. The motto here is never to say never when it comes to cryptocurrency’s volatility.

Another worthy opinion comes from SHIB’s marketing lead, Lucie, who has emphasized earlier that such optimistic aspirations can become reality. The expert disclosed that she’s been sticking with her SHIB investment for the past four years. Even if the growth can be sluggish, the doggy-themed meme coin can shed three more zeros later rather than sooner. Her projection of the meme coin isn’t immediate, as per her words calling for patience: “everything takes time”.

Possible timelines for SHIB’s touted ambition

While the 82,010 rise isn’t a small feat, analytical insights have provided investors with a sneak peek into the period when the meme coin could possibly hit the specified milestone. Two prominent analysts of the crypto market’s leader Bitcoin, Yazan and Jason Williams, have forecasted that SHIB could exceed $0.01 as early as this year. Possibly, it might be inching towards the $0.05 mark. On the contrary, researchers at Changelly estimate the doggo coin to value $0.01 25 years later, in 2050. Gemini (ex-Google Bard) indicates that the crypto could attain that milestone by 2040.

For context, the second-best meme coin hit a multi-year peak of $0.00004456 from a humble value of $0.0000097 around two weeks ago. Given the sharp timeline with which the asset printed this achievement, marketing lead Lucie’s prediction might actually be reasonable.

It’s worth noting that SHIB’s ecosystem would necessitate some updates to make the touted $0.01 possible. For instance, the network should integrate advancements that can improve the asset’s mainstream acceptance and slash the current circulating supply.

Some key takeaways

Since its release, Shiba Inu has grabbed headlines and piqued the curiosity of both seasoned investors and new-coming fans. Here’s a look at what pundits believe about its potential and current market position.

Factors impacting Shiba Inu’s price

Several essential factors contribute to SHIB’s price fluctuations. The following two stand out the most:

Words of caution

A combination of market demand, tech innovations, regulatory changes, social media activity, and macroeconomic factors shapes SHIB’s price dynamics. Stay informed about these elements to keep abreast of sudden changes in the meme coin’s price if you want to invest in it and secure some gains.

The above information does not constitute any form of advice or recommendation by London