Shiba Inu was launched in August 2020 and since then, SHIB holders have been dreaming for the token to reach $0.01. SHIB has an overall 1.3 million holders and the majority of them are praying for it to achieve the 1-Cent dream. Now that three years have passed without reaching the target, can it finally reach $0.01 next year in 2024? In this article, we will highlight the possibilities for SHIB to reach 1-Cent by the end of 2024.
Shiba Inu: $0.01 Target in 2024 a Reality?
To be honest and straight to the point, reaching $0.01 in 2024 is a herculean task. The world coming to an end next year might have more chances than Shiba Inu hitting the $0.01 milestone. Many factors come into play here as the dynamics to reach 1-Cent don’t play out as planned.
The first basic necessity for SHIB to move towards $0.01 is to start burning trillions of tokens. Though Shibarium will begin sending SHIB to the dead wallet in January 2024, the exact burn numbers remain unknown. Therefore, the chances of climbing above $0.01 remain narrow at the moment.
Additionally, SHIB has been stuck with only 1.3 million holders for six months straight. New and first-time investors entering the SHIB fold are becoming miniscule. Consequently, the adoption rate is dwindling making the token remain stagnant in price, adoption, and burns.
In conclusion, Shiba Inu reaching $0.01 in 2024 is nothing but wishful thinking. The odds don’t match up to the possibilities at the moment. Only a miracle of epic sorts could make SHIB reach the 1-Cent milestone next year in 2024.
At press time, Shiba Inu was trading at $0.00000975 and is down nearly 3% in the 24-hours day trade. SHIB is also down close to 89% from its all-time high of $0.00008616, which it reached in October 2021.