Shiba Inu (SHIB) is one of the most popular cryptocurrencies in the market. SHIB became a household name after the asset rallied by many million percent between its launch in August 2020 and October 2021, when it reached its all-time high. However, the dog-themed crypto has been on a bearish path for most of the time since its 2021 highs.
Shiba Inu (SHIB) has faced a 6.4% correction in the last 24 hours and a 12% jump in the weekly charts. However, SHIB is down by 20% and nearly up by 140% since April 2023.
However, despite the volatile SHIB price, the community has started forecasting higher price levels for the second-largest meme coin.
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When will Shiba Inu (SHIB) hit $0.01?
According to the popular AI (Artificial Intelligence) chatbot ChatGPT, SHIB could hit $0.01 by 2030, about 6 years from now. The chatbot stated, ‘Given Shiba Inu’s robust community support, ongoing efforts to increase utility, and the potential for wider adoption, a significant price increase reaching or exceeding $0.01 within the next decade is plausible.’
The AI bot added, ‘However, market fluctuations and the evolving cryptocurrency landscape necessitate a long-term investment approach.‘
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Changelly, however, is not very bullish on Shiba Inu (SHIB). The platform anticipates a maximum price of $0.01 by 2040. Telegaon, on the other hand, predicts SHIB to hit $0.01 sometime between 2035 and 2040.
However, there is also a possibility that Shiba Inu (SHIB) could reach the $0.01 goal much sooner. The SHIB team is working on a new burn mechanism, rumored to burn trillions of tokens yearly. SHIB’s massive supply is one of the most significant barriers to its price. If the team can reduce the project’s supply, we may see a sudden spike in the asset’s price.