The cryptocurrency market is recovering after the latest market dip, with Bitcoin (BTC) reclaiming the $64k level. Shiba Inu (SHIB) has also rallied nearly 5% in the daily charts. However, the asset is still down by 17.6% in the weekly charts, 14.3% in the 14-day charts, and 8.6% over the previous month.
SHIB is one of the most popular cryptocurrencies, given that the asset turned many early investors into multi-millionaires and, in some cases, billionaires. Nonetheless, the popular dog-themed crypto has struggled to reclaim its all-time high of $0.00008616, which it attained in October 2021.
Also Read: Shiba Inu Price Recovery: Will SHIB Report Big Gains Post-Bitcoin Halving?
However, SHIB fans and investors aim to take the asset much higher than its all-time high. SHIB fans have long pursued the $0.001 target and are working tirelessly to get there.
When will Shiba Inu (SHIB) reach $0.001?
According to Changelly, SHIB could reach the $0.001 level sometime between 2033 and 2040, about nine to sixteen years from now. Telegaon also has a similar prediction for SHIB. The platform anticipates SHIB to reach the $0.001 level sometime between 2035 and 2040.
Also Read: Shiba Inu: SHIB May Rise 28600% To $0.006 Post Bitcoin Halving
The project’s massive supply is one of the most significant barriers to SHIB’s price. If SHIB’s price reaches $0.001, the project’s market cap will rise to unrealistic figures. Therefore, the project has to reduce its supply before aiming for higher prices. The Shiba Inu team has said that they are working on a new burn mechanism, rumored to burn trillions of tokens yearly. If the team can drastically reduce the project’s supply, we may witness a massive price spike.
Another factor for a price spike is adoption. If more people begin using SHIB, it will increase demand and, consequently, the asset’s price.