After a notable surge of 13.25% in the value of Shiba Inu (SHIB) recently, attention has turned to the potential for the cryptocurrency to reduce its decimal places, aiming for at least $0.0001 per token.
Shiba Inu has shown impressive strength in the past 24 hours, with its price climbing by 13.25% to $0.00001507.
The Path to $0.0001
As Shiba Inu gains momentum, investors are eyeing significant rallies that could lead to the elimination of one of the four zeros following its decimal point. This would mean SHIB’s price would stabilize at a minimum of $0.0001. Achieving this target would require a substantial surge of 563.57% from its current trading price.
Shiba Inu has never traded with less than four zeros after its decimal point since its inception. The closest it came was in October 2021 when it reached an all-time high (ATH) of $0.00008845, still shy of the $0.0001 mark by 11.55%.
Nevertheless, the recent surge in Shiba Inu has sparked optimism about the possibility of reaching the $0.0001 mark, effectively shedding one zero after the decimal point.
Projected Timeline for Reducing a Zero
According to analysts at Coinpedia, Shiba Inu could potentially achieve this milestone by 2028, approximately four years from now. They predict SHIB’s price could range between a minimum of $0.0001066 and a maximum of $0.0001253 by that time, with an average target set at $0.00011596.
This forecast is consistent with predictions from other platforms. For instance, Changelly analysts foresee SHIB hitting the $0.0001 mark by 2027, just three years away. Similarly, Google Bard (now Gemini), an AI chatbot, also predicts that SHIB could reach this target in the same timeframe.
To realize any of these projections, Shiba Inu would need to surge by at least 563.57% from its current price.
While achieving these targets presents challenges, factors such as significant burns could play a crucial role in reducing the number of zeros after the decimal point.
Disclaimer: This article provides informational content and does not constitute financial advice. The views expressed are the author’s own and do not necessarily reflect those of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic bears no responsibility for financial losses incurred.