thecryptobasic.com
A crypto market expert has insisted that a potential Shiba Inu surge to 1 cent is feasible, as impossible things happen regularly in crypto.
Although Shiba Inu has held its own compared to its major rival, Dogecoin, since the start of the year, its lackluster price action has left enthusiasts underwhelmed. SHIB has corrected 42% year-to-date compared to DOGE’s 47%.
The massive pullback has most of its holders underwater. At the current price, 61% of Shiba Inu holders are out of the money, with a mere 4% at breakeven.
Nonetheless, enthusiasts remain largely bullish. In fact, they have remained insistent that Shiba Inu could surge to hit 1 cent in the long term, but pessimism abounds. Despite this, a prominent market analyst recently noted that $0.01 per SHIB is very much possible.
Impossible Things Happen In Crypto
Amid backlash from critics who claim a staggering 82,001% surge to $0.01 is impossible, renowned market analyst Luis Delgado (Del Crxpto) has insisted on its fruition. He argued in a tweet that the Shiba Inu could hit the price target, suggesting to never say never in crypto.
“I have seen the impossible happen in crypto time and time again,” Delgado emphasized, asserting that despite calls that the price target is impossible, the market had in the past proven that such impossible dreams do come through.
Notably, the #1CentDreamSHIB hashtag has continued to trend within the SHIB community, indicating that some believe there is still a chance. Moreover, other analysts and even the Shiba Inu team believe this outstanding price is possible for the prominent meme coin.
For perspective, Shiba Inu’s marketing lead, Lucie, highlighted that this ambitious price can materialize. She revealed she has been holding the doggy-themed meme coin since 2021 and believes that although it might delay, the surge that would see SHIB remove three more zeros would come to a realization.
Possible Timelines for Actualization
While the 82,001% rally looks lofty, analytical insights have given a sneak peek into when Shiba Inu could possibly attain the price target. For context, two top Bitcoin analysts, Jason Williams and Yazan, have predicted that the second-largest meme coin would surpass $0.01 as early as this year on its path to $0.05.
Meanwhile, Changelly researchers predict that SHIB will hit $0.01 by 2050, 25 years away from now. Nonetheless, Gemini (formerly Google Bard) suggests the token would attain the price mark by 2040.
It bears mentioning that the Shiba Inu ecosystem would need to effect certain changes to make the $0.01 target more realistic. Some of them include a massive reduction in the circulating supply and the introduction of innovations that would drive SHIB’s mainstream adoption.