Shiba Inu (SHIB) has seen its fair share of ups and downs. From its launch in August 2020 to its all-time high in October 2021, the memecoin rallied by many million percent. However, SHIB has been on a downward trajectory ever since. The dog-themed crypto is currently down by over 80% from its 2021 peak of $0.00008616. Nonetheless, fans and investors are hopeful SHIB can regain lost momentum.
If Shiba Inu (SHIB) were to rally 100%, its price would reach around $0.00002036. According to Changelly, SHIB could reach this level in 2025, one year from now. Hence, current price levels could be a good entry point for new investors. By holding the token for one year, investors could potentially make a 100% profit.
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Telegaon, on the other hand, anticipates SHIB to reach the $0.00002036 target in 2024 itself. The platform predicts a minimum price of $0.0000221 and a maximum price of $0.0000571 for 2024.
Other factors that could affect Shiba Inu’s (SHIB) price
Several other factors could push SHIB’s price much earlier than anticipated. Firstly, the SHIB team is working on a new burn mechanism. Although we do not have an official launch date, the new burn portal could remove trillions of tokens yearly. Some estimates say the new burn mechanism could remove one trillion tokens monthly. SHIB’s massive supply is one of the most significant barriers to its price. If the team can reduce the number of tokens in circulation, it may positively impact the asset’s price.
Also Read: Shiba Inu: $200 Investment Every Week Since 2020 Is Worth This Much
The second factor that could impact Shiba Inu’s (SHIB) price is adoption. If we see an uptick in mass adoption, SHIB’s price may begin to rally. The project launched its layer-2 network, Shibarium, in August 2023. The network could lead to more applications in the SHIB ecosystem, which may drive adoption.
Both developments may propel SHIB’s price to the $0.00002036 target much faster.
