Shiba Inu (SHIB) has deleted a zero after its decimal point, which it gained earlier in August. The popular memecoin struggled for most of 2023 despite a significant layer-2 network launch. However, the asset seems to be gaining momentum in December. SHIB is currently up 3.5% in the daily charts and 8.6% over the last week. Moreover, the token has rallied 14.8% in 14 days and 23.5% in the previous month.
Also Read: Shiba Inu: Can SHIB Reach $0.001 In the Next Bull Run?
Since January, SHIB price has surged by around 28%. Although the growth is welcome, it is far outshined by Solana’s (SOL) over 590% growth and Bitcoin’s (BTC) over 150% growth in the same time frame.
When will Shiba Inu (SHIB) reach $0.02?
SHIB fans and investors have long pursued the “one-cent dream.” Reaching $0.02 from current levels would translate to a growth of about 191,470%. According to Telegaon, SHIB could end 2023 with a maximum price of $0.0000216, a rise of over 100% from current price levels.
According to the analysts at Telegaon, Shiba Inu (SHIB) won’t reach $0.02 till at least 2040. The platform anticipates the memecoin to hit 2 cents sometime between 2030 and 2040. The token could touch a maximum price of $0.000712 in 2030 and $0.089 in 2040. On average, we can conclude that SHIB might hit $0.02 sometime in 2033 or 2035, nine or eleven years from now.
Also Read: Shiba Inu: When Will SHIB Breach Its All-Time High of $0.00008616?
However, the journey to $0.02 won’t be easy. Shiba Inu’s (SHIB) supply is massive, and reaching a price of $0.02 per token would mean an unrealistically high market cap. Hence, the team will need to reduce the token’s supply. However, the team is working on a new burn mechanism that could significantly reduce the number of tokens in circulation. According to rumors, the new mechanism can incinerate trillions of tokens yearly. At this rate, we could reach the $0.02 target much sooner.