Shiba Inu is currently trading at $0.000009503 and is mostly trading on the back foot this year in 2024. SHIB is looking to delete its fifth zero but is struggling to gather momentum to trade with only four zeroes. The token boasts of an investor base of 1.3 million and the majority of them dream of becoming millionaires. The 1 Cent dream is a phenomenon where SHIB investors are waiting for the token to hit $0.01, so their portfolio could balloon to $1 million and more.
Also Read: Shiba Inu: SHIB Turns $3,600 Into $19 Million in 3 Years
However, the circulating supply of 549 trillion is stopping Shiba Inu from reaching its desired target. The enormous circulating supply is making it harder for SHIB to remain scarce in the market and is affecting its price. If the supply does not reduce considerably over the years, SHIB will find it impossible to reach $0.01.
However, a leading on-chain metrics and price prediction firm Telegaon has predicted that Shiba Inu could reach 50 Cents. According to the price prediction, SHIB might hit $0.50 most probably in our lifetime. In this article, we will highlight when SHIB could reach 50 Cents.
Also Read: If Shiba Inu Burns 100 Trillion Tokens a Year, Will It Reach $0.01?
Shiba Inu: When Will SHIB Hit 50 Cents?
The on-chain metrics firm Telegaon has forecasted that Shiba Inu could reach 50 Cents sometime in 2050. The forecast takes into consideration that over 90% of the circulating supply could be burned and sent to the dead wallet in the next two and a half decades.
Also Read: When Will SHIB Reach 2 Cents?
The estimate of reaching 50 Cents is another 26 years from today in 2024. Therefore, the possibility of Shiba Inu touching 50 Cents might be possible in our lifetime, according to the prediction.
However, the cryptocurrency market is highly volatile and cuts both ways causing massive losses. There is no guarantee that Shiba Inu could reach 50 Cents in 2050. It is advised to do thorough research before taking an entry position into SHIB.