Shiba Inu (SHIB) has faced significant headwinds since its 2021 peak. The asset has struggled to regain its 2021 momentum and has fallen by more than 84% from its all-time high of $0.00008616.
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SHIB is facing a significant correction in the market following Bitcoin’s (BTC) fall to sub-$60,000. The dog-themed crypto is down 5.5% in the last 24 hours, 0.3% in the weekly charts, 0.4% in the 14-day charts, and more than 20% over the previous month. Despite the latest correction, SHIB’s price is still up 73% since August 2023.
SHIB’s Price Potential and Key Levels to Watch
Here’s When SHIB Could Hit $0.002
Although Shiba Inu’s (SHIB) performance over the last few years has been lacklustre, fans and investors continue to pursue higher prices. One such target is the $0.002 level. Reaching $0.002 will translate to a rally of about 14,530% from current price levels.
Changelly’s Prediction for SHIB
According to the analysts from Changelly, SHIB could hit the $0.002 target sometime between 2033 and 2040. The platform predicts SHIB to hit a maximum price of 2 cents in 2040.
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Telegaon’s Prediction for SHIB
Telegaon is clearer about when Shiba Inu (SHIB) could hit the $0.002 mark. The platform anticipates the asset to hit a maximum price of $0.00216 in 2035, about 11 years from now.
Can We Reach the $0.002 Target Sooner?
One of the most significant barriers to SHIB’s price is its massive circulating supply. There are about 589 trillion SHIB tokens in circulation right now. If the cost of each token hits very high levels, the project’s market cap will reach unrealistically large figures.
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If the SHIB team can quickly reduce the asset’s supply, we could reach the $0.002 target much sooner than predicted. The team is reportedly working on a new burn mechanism that is rumoured to burn trillions of tokens annually.