Shiba Inu (SHIB) has made significant gains over the last few days. The popular token has rallied 3.4% in the daily charts, 8.1% in the weekly charts, and 10.2% in the previous 14 days. However, the asset is still down by 23.2% since February 2023.
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SHIB’s latest rally could be due to Bitcoin (BTC) surpassing the $52k mark. BTC is at its highest point since 2021, and many anticipate it could be the start of a new bull run. Despite the recent rally, SHIB continues to face resistance at the $0.00001 level. The asset is struggling to delete the zero it gained after its decimal in December 2023.
When will Shiba Inu (SHIB) reach $0.001?
Reaching $0.001 from current levels would translate to a growth of over 10,000%. Although the figure may seem significant, it is not something SHIB has not achieved before. Between SHIB’s launch in August 2020 and hitting its all-time high of $0.00008616 in October 2021, SHIB’s price rallied by many million percent. Early investors made millions in profits and, in some cases, even billions.
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According to Changelly, Shiba Inu (SHIB) may breach the $0.001 level sometime between 2033 and 2040. The platform anticipates SHIB to hit a maximum price of $0.00879912 in 2040, a rise of almost 90,000% from current levels.
Telegaon also paints a similar picture for SHIB. The platform predicts SHIB to breach the $0.001 level between 2030 and 2035. Telegaon anticipates SHIB to reach a maximum price of $0.00216 in 2035, a rise of almost 22,000% from current levels.
Shiba Inu’s (SHIB) massive supply is one of its most significant barriers to higher prices. The project needs to drastically reduce its supply if it has to reach the $0.001 level sooner.