Shiba Inu (SHIB) has struggled to gain momentum over the last few years. The asset’s price went “to the moon” during the 2021 bull run. Since its launch in August 2020, till it hit an all-time high of $0.00008616 in October 2021, SHIB’s price increased by many million percent. Early investors made generational wealth with minimal investments.
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Forbes Predicts When Shiba Inu Will Hit $0.0001
According to a Forbes prediction, SHIB could rise to a high of $0.00007488 in 2025. The dog-themed cryptocurrency’s price will rally by about 455.49% if it hits the $0.00007488 target.
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Forbes analysts anticipate SHIB’s price to dip over the next few years before it picks up steam. The platform anticipates SHIB to breach the $0.0001 mark in 2029, about four years from now. Forbes predicts SHIB will trade at a potential maximum price of $0.000161 in 2029. The asset’s price will rally by 1094.3% if it hits the $0.000161 target. Hitting $0.000161 will also be a new all-time high for the popular cryptocurrency.
What Will Make The Asset Rally Sooner?
One of the most significant barriers to Shiba Inu’s (SHIB) price is its massive supply. There are about 589 trillion SHIB coins in circulation right now. If the asset reaches very high prices, the project’s market cap will become unrealistically large. If the SHIB team can reduce the asset’s circulating supply, we could see another 2021-like rally.
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One of the biggest drivers for Shiba Inu’s (SHIB) 2021 rally was Vitalik Buterin’s massive token burn. The Ethereum co-founder received half of SHIB’s supply upon launch. Buterin decided to burn 90% of the coins he received. At the time, there was substantial demand for SHIB. The high supply dip and high demand led to a massive price spike.