Not many investors were eager to purchase Dogecoin when it was trading below the $0.01 mark between 2013 and 2020. When DOGE hit 1 cent in early 2021, a flurry of new and first-time investors entered the markets, making its price go further up in the indices. DOGE went from $0.01 to $0.73 in less than six months during that period. Similarly, Shiba Inu has chances of zooming in price after it reaches the $0.01 mark despite sell-offs.
When SHIB crosses 1 cent, another batch of new and first-time investors could enter the markets due to the frenzy in the news that ‘investors turned millionaires’, similar to Dogecoin’s story. In this article, we will highlight a price prediction on when Shiba Inu could reach the $0.05 milestone.
Shiba Inu: When Could SHIB Reach $0.05 (5 Cents)?
Shiba Inu is close to deleting its fifth ‘zero’ as it traded around the $0.000009 threshold on Wednesday. SHIB is on the heels of a possible Shibarium launch that could make its price sit above the $0.00001 target. The token is already up double digits today and is attracting bullish sentiment in the indices. However, investors are eager to see SHIB delete all its zeroes and climb above the $0.01 mark.
Leading on-chain metrics and price prediction firm Telegaon has forecast that Shiba Inu could climb above $0.01 in 2040. According to the prediction, Shiba Inu could hit a price target of $0.05 (5 Cents) during the same year in 2040.
That’s 17 years from today, and there’s a long way to go. A handful of investors might not wait that long and could offload their holdings in the coming years. Holding on to nearly two decades is the true test of ‘diamond hands’.
However, there is no guarantee that SHIB could hit $0.05, let alone cross $0.01 on or before 2040. The markets are highly volatile and cut both ways, creating drastic losses. It is advised to do thorough research before taking an entry-level position at SHIB.