The Shiba Inu (SHIB) ecosystem has been trying to reach the coveted one-cent milestone since its origin. The second-largest meme coin stands 33,211.96% below this mark. However, SHIB has managed to rise by 2249258.24% since its origin, which further instills hope in the SHIB market.
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Shiba Inu Sinks In The Red Sea
At press time, Shiba Inu was trading at $0.00002996 following a nearly 7% drop over the past 24 hours. The asset, however, had a great week as it surged by over 16%.
Amidst this, Shiba Inu has witnessed a great deal of on-chain activity in the last day. The asset recorded a transaction volume of 11.39 trillion SHIB. The surge is often a significant market driver for the asset’s price dynamics. This further corresponds with this heightened activity.
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December Price prediction
According to data from CoinCodex, it is anticipated that Shiba Inu will trade in a range between $0.00002905 and $0.00006045 by the end of the year. This would mean that if the average price for December was $0.00003791, the price of SHIB rose by 27.04% compared to today’s pricing. This means that if SHIB makes the forecast, investors could potentially make a profit of 102.56%. The meme coin is clearly far from reaching the coveted 1-cent mark.
The meme coin will not rise to this high anytime before 2025. In addition, data from Telegaon revealed that SHIB will take quite some time to reach this zone. Shiba Inu will surge to this peak between the years 2040 and 2050. While this seems quite far away, the second-largest meme coin has, time and again, increased by a huge margin. Along with this, several factors could influence the price of SHIB and push it towards 1 cent much sooner than expected.
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