Shiba Inu (SHIB) has witnessed a fair share of success in its four-year history. The asset’s price rallied by many million percent within just a year after its launch. Early investors made millions of dollars in profit, solidifying SHIB’s name as a solid crypto project.
Despite its early success, the dog-themed cryptocurrency has struggled to gain momentum over the last two years. SHIB is currently down by 79.6% from its all-time high of $0.00008616, which it attained in October 2021. Although the asset has lost significant traction, fans and investors continue to pursue higher prices. One such target is the 5-cent mark.
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When Will Shiba Inu Hit 5 Cents?
Hitting 5 cents ($0.05) from current price levels will need a rally of about 285,614.29%. Although the figure is significantly large, it is not something that SHIB has not done before. The journey, however, may not be easy or short.
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According to Changelly analysts, Shiba Inu (SHIB) will hit the 5-cent mark sometime after 2050. The platform predicts SHIB will trade at a maximum price of $0.3319668 in 2050.
The analysts at Telegaon are far more bullish on SHIB than Changelly. The platform anticipates the asset hitting the 5-cent mark sometime between 2035 and 2040 and predicts SHIB trading above the $1 mark in 2050.
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SHIB may breach the 5-cent mark sooner than predicted. The team reportedly works on a new burn mechanism rumored to burn trillions of tokens yearly. If the team drastically reduces the project’s supply, the asset may hit the $0.05 mark sooner than anticipated.