Can Shiba Inu (SHIB) Hit $0.001? What an 8,300% Rise Would Mean for Financiers
Shiba Inu (SHIB) has actually experienced a considerable rate decrease of 3.44% over the last 24 hr, dropping to a low of below $0.000012. At press time, SHIB is trading at 0.00001174 and has experienced an 11.99% decrease in the previous week. The 30-day loss has jumped to 20.43%. This decrease has caused a guaranteed split among investors, with some feeling shaken by the uncertainty and others seeing opportunity.
Social media has been flooded with upset posts from numerous investors. People have become disappointed as the expectations of a recovery soon have been controlled. Fear of further losses and lack of confidence in the future are gradually gaining popularity in online media.
SHIB Investment Opportunity: 100M Tokens Now, $100K Potential
The cost drop is viewed as a strategic entry point for investors who view the decline in cost as an opportunity to accumulate more SHIB. The goal is to reach the $0.001 level in the long term. The cost of purchasing 100 million SHIB tokens would amount to $1,174 at the current price of the token. In case the price reaches $0.001, the holding would then have a value of $100,000. IntoTheBlock reports that nearly 71,510 addresses currently have at least 100 million SHIB. These wallets represent 4.89% of all SHIB-holding addresses and collectively hold 17.94 trillion tokens, valued at around $213.3 million. The intriguing potential returns continue to draw interest.
Can SHIB Achieve $0.001?
To achieve the price range of $0.001, Shiba Inu (SHIB) would need to increase by more than 8,300% in price, starting from its current price. This would raise the market capitalization of SHIB to approximately $589.25 billion, assuming no change in the circulating supply. This extreme rise has sparked a crucial debate among observers and investors. There are market observers who remain optimistic despite the high challenge.
In October 2024, Crypto Sheriff identified a technical breakout as a potential indicator of future upside. The analyst identified a window of price targets, with the immediate targets being $0.00002 and $0.0002, and the long-term target being $0.001. Analyst LuckSide Crypto has also highlighted increasing interest among large holders and the absence of severe resistance as potential catalysts for a future rally. Meanwhile, Changelly and Telegaon platform-based long-term projections suggest that SHIB might reach the price of up to $0.001 around 2035-2039. The recent selloffs have shaken the faith of some investors, while others see the ongoing decline as an opportunity to diversify their portfolios. The path to a price of $0.001 may not be immediately clear, but people continue to discuss the potential of SHIB, and opinions are divided on both sides.
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