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Shiba Inu (SHIB) Could Hit $0.000712, $0.00769, $0.025: Here’s When

Vignesh Karunanidhi
Vignesh Karunanidhi
February 23, 2024
With Shiba Inu (SHIB) recently erasing one zero from its price, a top market analyst has uncovered the key target and support levels to watch out for going forward. Shiba Inu price erased one zero to trade at a 24-hour high of $0.00001462. Though the token had shown signs of an imminent rally for weeks, the current market momentum pushed its price to the highest level in more than 52 weeks. Judging by the current outlook, market analyst SHIB KNIGHT affirmed that Shiba Inu has surpassed all of his previous targets. To showcase the confidence in the current uptrend, SHIB KNIGHT dropped new targets and support levels to watch. Shiba Inu to $0.00001668? Per an accompanying price chart, the 3 targets and support levels unveiled are relatively bullish, as none of the latter targets shows a slump below the $0.00001 level. According to $SHIB KNIGHT, the current momentum might push Shiba Inu to $0.00001466, a price point that will slightly outpace the 52-week high. On a more promising basis, the analyst foresees SHIB soaring to $0.00001545, a level that is about 9.886% from the current level. SHIB KNIGHT is also optimistic Shiba Inu could rally as high as $0.00001668 and even beyond, per earlier projections. Though the potential timeline to achieve this feat was not highlighted, the projections have set the community on edge with pent-up anticipation of what to watch out for. Cautionary SHIB Note Amid the bullish targets, SHIB KNIGHT left room for unforeseen circumstances that might trigger a reversal in Shiba Inu’s uptrend. At the time of writing, Shiba Inu has maintained a 24-hour growth of 13.06%, taking its price and market cap to $0.00001409 and $8,285,705,642 respectively. Exactly $2,271,151,442 SHIB has been traded within the same time span. There are no guarantees that the market would not record a correction. Riding on this, SHIB KNIGHT pegged the first support level at $0.00001343 with a subsequent target of $0.00001306 if the selloffs persist. To cap his bullish disposition, the analyst believes the support zone at $0.00001258 is a formidable one for SHIB, a point at which another trend reversal might be recorded.

Despite recent carnage dragging Shiba Inu’s price down recently, some analysts remain adamant on lofty future valuations for the meme coin, citing targets at $0.000712, $0.00769, and even $0.025 further out.

The projections may seem detached from today’s action, but believers maintain that clear catalyst paths exist.

When will Shiba Inu hit $0.000712?

Changelly experts forecast SHIB reaching $0.000712 as early as 2030, just six years away. However, doing so requires a 7,450% gain from current levels. And critically, it would put Shiba Inu over 700% above its former peak of $0.00008845 in October 2021.

The same analysts set a $0.00769 price target for 2040 that was even more ambitious. This milestone demands an even more staggering 81,448% rally from today’s prices. Moreover, SHIB has to eclipse its all-time high by nearly 8600% to get there.

Also read: Ripple (XRP) Could Surge 1350%, Here’s How

shiba inu 50 cents shib $0.50

Will SHIB hit $0.025?

Finally, Telegaon analysts went as far as predicting $0.025 per token—a whopping 265,000% explosion in value, or 28,164% above its record high. They pinned their forecast for sometime around 2040 as well in the boldest call yet.

Realizing such aggressive targets certainly won’t come easy, considering Shiba Inu’s circulating supply of 581 trillion tokens today.

However, the meme coin has produced similarly extreme percentage gains in the past, rising over 11.5 million percent from its September 2020 lows to its peak. Multi-million percent advances cannot be ruled out with the right conditions.

Also read: Shiba Inu: How Many SHIB You Need To Make $10 Million if It Hits $0.01?

The most obvious catalyst necessary to propel SHIB to projected levels is intensifying token burns. Despite over 410 trillion SHIB destroyed already, accelerated and compounding burns would be required to meaningfully impact circulation at scale.

The upcoming Shibarium portal promises automation to ramp incineration further. Ecosystem projects continually add to the volumes burned. If paired with utility growth and speculation, triple-digit cent valuations for SHIB no longer appear so detached, even if targets reflect longer-term milestones.

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