In the midst of Shiba Inu’s struggle to recover from recent losses, we have compiled a list of the top 10 predictions forecasting that SHIB will reach the highly coveted target of $0.001.
Shiba Inu has been making significant efforts to regain some of its recent losses. On August 5, 2024, Shiba Inu came close to adding another zero to its price after dropping to $0.00001088.
Interestingly, the token with a dog theme embarked on a significant recovery, surpassing the $0.000014 price range. Currently, Shiba Inu is trading at $0.00001403, reflecting a decline of 4.91% over the past week.
Despite Shiba Inu’s recent downturn, enthusiasts remain confident in the potential surge of the token’s price. The asset is projected to reach the ambitious target of $0.001 someday, which would require a surge of 7,027% from its current price.
Here are the top 10 predictions indicating a potential rally to $0.001:
1. Market analyst Armando Pantoja predicts that FOMO (Fear of Missing Out) will soon hit Shiba Inu, propelling the token for a 72x surge above the $0.001 price range. Pantoja believes investors will take advantage of SHIB’s low price for a discount.
2. Pantoja also foresees SHIB hitting the $0.001 mark this year or at worst in 2025. He expresses confidence in SHIB’s potential rise to the $0.001 price level.
3. Coinpedia Markets forecasts that the price of SHIB could rally to $0.0016 after the U.S. SEC approves the trading of spot-based Ethereum exchange-traded funds (ETFs). The SEC recently approved nine Ethereum spot ETFs to commence trading in the U.S.
4. Crypto Basic analyzes that SHIB’s price could soar to $0.001477 if it receives 50% of Bitcoin spot ETF inflows. This prediction is based on the growing demand for a Shiba Inu ETF.
5. In June, an analysis predicts that SHIB could surpass the $0.001 mark by December 2024 if its price doubles monthly.
6. AI chatbot ChatGPT highlights three factors that could take SHIB to the $0.001 territory: massive burn, increased demand and adoption, and overall ecosystem improvement.
7. Google Bard (now Gemini) speculates that SHIB could hit the $0.001 mark anytime between ten and twenty years.
8. Increasity believes that Shiba Inu will surge to the $0.001 price range in the 2024/2025 bull season.
9. An analysis from last year predicts that it may take a few years for SHIB to reach the $0.001 target if its L2 blockchain, Shibarium, successfully burns 111 trillion tokens annually, as projected by community figure Queenie.
10. Shibarium, a major project expected to enhance SHIB burns, has already burned over 56 billion SHIB tokens. With the introduction of a burn mechanism via a hard fork, it is expected that the number of Shibarium-powered burns will increase in the coming months. However, it is uncertain whether Shibarium can effectively burn 111 trillion SHIB tokens annually.
Please note that this content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not necessarily reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.