Shiba Inu (SHIB) is one of the few projects that have turned early investors into multi-millionaires within just one year. Upon its launch, SHIB was trading with ten zeros after its decimal point. After just one year, the token reached its all-time high of $0.00008616, an increase of many thousand percentage points.
Also Read: Shiba Inu: $1000 in 2020, Is Worth $7.5 Million in November 2023
However, the memecoin has been on a downward trajectory ever since, and many investors are curious if SHIB can once again rally as it did in 2021. The token is currently down by 91% from its 2021 all-time high and 37.2% over the last year.
Shiba Inu (SHIB) has struggled to break the $0.000008 resistance level for the better part of this year. Although the token briefly deleted a zero in August, it could not sustain the rally. Furthermore, SHIB did manage to generate some steam in October, but the memecoin seems to have lost its hold as it is down 3.9% in the last 24 hours and 2.9% in the weekly charts.
When can Shiba Inu (SHIB) hit $0.03 (3 cents)?
According to Telegaon, SHIB could reach a price of $0.05 by the year 2040, which is 17 years away from today. Hence, $0.03 would take even longer than 17 years. Holding an asset for nearly two decades would take a lot of motivation.
Also Read: Shiba Inu vs. XRP: Which Will Gain More by Christmas 2023?
Many investors might not wait so long and may liquidate their holdings. Moreover, other more lucrative projects may launch in the meantime. Additionally, many analysts anticipate Bitcoin (BTC) to reach $1 million by that time. Hence, investors may switch and go for the original crypto just to be safe.
