Oscar Ramos has expressed doubts about the possibility of Shiba Inu (SHIB) reaching $0.01 in the next two decades, despite projections of gradual growth by Telegaon until 2050.
Ramos took to social media to share his skepticism, citing the current supply dynamics as a reason for his doubts. He shared a detailed price analysis snapshot from Telegaon, which outlines SHIB’s projected price progression from 2024 to 2050. While the projections indicate a potential path to substantial price increases, Ramos remains unconvinced.
According to the data from Telegaon experts, SHIB is expected to experience initial growth from 2024 to 2027, with prices gradually increasing during this period. The price range is projected to be between $0.0000421 and $0.0000601 in 2024, and it could rise to between $0.0000945 and $0.000198 by 2027. This phase suggests a period of market stabilization and gradual appreciation.
From 2028 to 2030, moderate growth is expected, with average prices increasing from $0.000289 in 2028 to $0.000646 in 2030. By 2035, SHIB could reach a notable milestone, with the maximum price potentially exceeding $0.002. This phase could be driven by increased adoption and market confidence.
The projections from 2040 onwards indicate exponential growth, with SHIB’s average price potentially reaching $0.076 by 2040 and surpassing $1.00 by 2050.
In previous projections, Bitcoin analysts Jason Williams and Yazan proposed a target of $0.05 for SHIB in the current bull market. They believe that SHIB could reach this price if Bitcoin hits $250K to $777K. However, SHIB would need a 200,703% rally by 2025 to eliminate three zeros from its price.
While some analysts see SHIB’s price possibly reaching $0.000114 in this cycle, others suggest a long-term target of $0.05 by 2040. Despite the challenges, a Shiba Inu content specialist named Lucie remains confident that SHIB will reach $0.01.
However, Oscar Ramos disagrees and believes that SHIB cannot exceed 1 cent with the current supply of Shiba Inu.
Ramos’ skepticism sparked various reactions from the SHIB community. A long-time SHIB holder named Oscar V expressed his commitment to holding SHIB for his children’s future, emphasizing his focus on real-world assets and well-known meme coins.
Efforts to reduce the token supply and manage SHIB’s value have been made by the community through token burns. However, substantial reductions in supply are required to have a meaningful impact on the token’s price.
Current market sentiment, as reflected in SHIB’s price movements and technical indicators, shows mixed signals. SHIB is currently trading at $0.00002412, with a 24-hour trading volume of $298,988,854.35. The circulating supply of 590 trillion SHIB gives it a market cap of $14.24 billion.
The daily SHIB/USD chart shows price consolidation, with the Simple Moving Average (SMA) and Exponential Moving Average (EMA) indicating support around $0.00002409 and resistance near $0.00003000. The Stochastic Relative Strength Index (Stoch RSI) suggests potential overbought conditions, indicating possible short-term price corrections. The future will determine if the current optimism among analysts and the market sentiment will lead to sustained long-term growth for Shiba Inu.
Disclaimer: This article provides information and should not be considered financial advice. The views expressed in this article are the author’s personal opinions and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.