The likelihood of Shiba Inu (SHIB), the popular dog-themed cryptocurrency, reaching the $0.01 threshold is a topic of intense discussion and is met with substantial doubts. Renowned analyst Oscar Ramos voiced his doubts on social media about the possibility of Shiba Inu hitting $0.01 in the next 20 years.
The Shiba Inu Price Projection From 2024 to 2050
Currently, SHIB’s market cap and circulating supply make such a leap improbable without extraordinary changes in the market. Oscar provided an in-depth price analysis from Telegaon, which outlined forecasts for SHIB’s price from 2024 to 2050.
Are you serious? I mean, 20 years from now is not that bad for me, but honestly, I don’t think $SHIB can go past 1 cent with the current Shiba Inu Supply. Time will tell. Hope I’m wrong #SHIBARMY pic.twitter.com/j02g6TsIx2
— Oscar Ramos (@realOscarRamos1) May 20, 2024
For Shiba Inu to hit $0.01, its market capitalization would need to reach approximately $5.89 trillion, surpassing the market cap of Bitcoin (BTC) at its peak. This also includes the combined value of the world’s largest companies Microsoft and Apple. This scenario would require an unprecedented influx of capital into Shiba Inu, which many analysts deem unrealistic.
According to Telegaon experts’ data, SHIB’s minimum, average, and maximum prices will gradually rise from 2024 to 2027. Subsequently, from 2028 to 2030, moderate growth is anticipated, with the average price escalating from $0.000289 in 2028 to $0.000646 in 2030.
Notably, in 2030, SHIB is forecasted to achieve a significant milestone, potentially surpassing $0.002 in maximum price. Increased usage and practicality, positive regulatory conditions, ongoing media attention, and substantial market activity by influential investors could be the driving forces behind this.
However, the projections from 2040 indicate exponential growth, with SHIB’s average price reaching $0.076 and surpassing $1.00 in 2050.
What Future Holds for SHIB
As reported by Crypto-Vanguard, SHIB’s price experienced a huge rebound earlier this month due to its burn rate boom. Interestingly, the Shiba Inu community is strongly advocating for more SHIB to be burnt by the community. While the Shibarium Burn Portal to help accelerate this is yet to go live, the team has introduced innovations.
One of these innovations is the Shibarium hard fork launched on the mainnet early this month. The protocol aims to be faster, cheaper, and more user-friendly through this hard fork. With the Shibarium upgrade, innovators within the Shiba Inu community can develop more in-demand applications to drive SHIB usage.
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