thecryptobasic.com
While the price of Shiba Inu has struggled to impress in recent times, the most popular predictions predict that cryptocurrency will reach new highs in the coming years.
One of the most widely owned cryptocurrencies, Shiba Inu, ranks within the top cryptocurrencies by market capitalization, outperforming coins launched way before it. However, the grueling 2022 bear market pushed Shiba Inu to its lowest point, around $0.0000082.
Since then, the altcoin only managed a recovery to $0.000012 and instead returned to the $0.000008 range following the most recent decline in crypto prices. Many wonder if there is still hope for Shiba Inu to return to its glory days or at least erase the losses inflicted by the bear market.
Although there is no guaranteed way to predict Shiba Inu’s potential recovery, analysts consider a combination of market dynamics and ecosystem growth to forecast SHIB’s future price. A closer look reveals when SHIB can reach $0.0001, $0.005, and even as high as $0.02, according to two major sources.
Shiba Inu to Hit $0.0001 Within Three to Six Years
The price of Shiba Inu will go as high as $0.0001 within the next three years, according to prediction platform Telegaon. The forecast affirms that Shiba Inu will eventually break its previous all-time high of $0.00008845 sometime in 2026 before hitting an average price of $0.000153 one year later.
In a related development, analysts at popular crypto exchange Changelly expect Shiba Inu to hit that milestone much later. In their most recent prediction, Changelly forecasted that SHIB will cross $0.0001 sometime in 2030 while breaking its previous high one year before that (2029).
Shiba Inu on Course for $0.005 and $0.02
Beyond the initial removal of two zeros from Shiba Inu’s current market value, predictions have it that Shiba Inu will eventually end up with double zeros and a single zero decimal. According to Telegaon, SHIB will take more than a decade to hit the $0.005 mark, touching that price sometime in 2040.
Changelly also agrees with the prediction, seeing Shiba Inu crossing $0.005 in the same 2040. However, the exchange platform does not predict that Shiba Inu will reach $0.02 even after 2050. However, Telegaon foresees such an outcome in 2040, too, and even puts a high threshold of $1.06 by 2050.
It is noteworthy to mention that these predictions are not guaranteed to take place. Especially with Shiba Inu’s large supply of 589 trillion tokens, the project team will have to burn a considerable amount of the circulating supply for SHIB to reach such meteoric predictions.
For instance, Shiba Inu, with its current total supply of 589 trillion tokens, would have a market of $2.945 trillion if it crosses the $0.005 price. This market cap would be worth almost twice as much as the current crypto market capitalization of around $1.6 trillion.
Initiatives such as periodic token burns and the adoption of the Shibarium network will have to reach peak levels for Shiba Inu to stand a chance of seeing such substantial price jumps. In either case, Shiba Inu holders remain one of the most patient investors and may be rewarded if the project sees its value rise even halfway or a quarter way near the current predictions.