The cryptocurrency market has been around for a while Shiba Inu He dealt a harsh blow to its price by being ruthless towards it. Despite the rise in SHIB price, it has lost nearly 7.5% in value since May 16 at $0.00002588. While 6.7% of this decrease occurred in the last 24 hours, it is far from the annual peak of $0.000045.
The Shiba Inu has performed exceptionally well in 2021, leading many to predict continued growth. However, the decline in the cryptocurrency market in 2022 and early 2023 also severely affected SHIB. meme coin caused its value to drop by approximately 90%. This decline reflected broader market sentiment, which lost more than half its value during the bear market.
Shiba Inu Doesn’t Give Up on His 1 Cent Dream
Although the price has faced obstacles for some time, the hope of the community and investors remains high. As it is known, a large part of this hope consists of the “1 cent dream”. Although such a rise in price is still a dream, if it comes true it will continue to make a large number of people millionaires.
Beyond the 1 cent target, SHIBIt is claimed that the probability of reaching an even higher milestone is increasing: 1.5 cents. Amidst the uncertainty in the market, Telegaon, a renowned firm specializing in on-chain metrics and price predictions, offers insights into the future of SHIB. Their analysis shows that SHIB could exceed the $0.01 barrier between 2030 and 2040.
Telegaon’s prediction takes into account various factors. These include ongoing and future trends as well as adoption rates. Burns are very important in the SHIB ecosystem. With a high circulating supply, it is necessary to send these tokens to a dead wallet. Additionally, if the Shiba Inu continues to grow in popularity and utility and the broader crypto market stabilizes and enters another bullish phase, reaching 1.5 cents could become a reality within the next decade or two.
