According to Mysterious_trader9, Shiba Inu (SHIB) could surge to $0.001 by January or February 2025. Hitting $0.001 from current prices will translate to a rally of about 7458.58%. The trader does not specify why they believe SHIB will hit this figure early next year but asks investors to “stay strong.”
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SHIB’s Popularity And Potential Challenges
SHIB is one of the most popular cryptocurrencies in the market and has a loyal fan base. The asset made a name for itself during the 2021 bull run when its price rallied by many million per cent.
Early Investors’ Success Stories
Early investors made millions of dollars in profit. New crypto investors were astounded by the rags-to-riches stories around the dog-themed crypto.
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Questionable Future Price Predictions
Due to its massive returns, Shiba Inu (SHIB) became popular among people who wanted to make it big quickly. Despite its popularity, whether the meme coin will hit $0.001 in only three or four months is questionable.
Can SHIB Realistically Hit $0.001 by January-February 2025?
Token Supply Barrier
One of the most significant barriers to SHIB’s price is its 589 trillion token supply. If each token hits $0.001, the project’s market cap will reach about $5.89 trillion. The project may not achieve this target in a few months, as it is larger than the current most significant company in the world, Apple, valued at around $3.48 trillion.
Potential For Token Burn Initiative
One way SHIB can realistically hit the $0.001 target is through a massive token burn initiative. Ethereum co-founder Vitalik Buterin’s colossal token burn was one of the most significant catalysts of the 2021 rally.
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Buterin received half of SHIB’s supply upon launch and decided to burn 90% of the coins he received. Buterin’s actions led to a substantial dip in the asset’s supply, increasing its price. If the team can design another massive burn, we may witness another 2021-like rally.