Shiba Inu (SHIB) launched its layer-2 network, Shibarium, in August 2023. In just six months, SHIB’s layer-2 network has reached a milestone of 3 million daily transactions.
However, despite the transaction surge, SHIB’s price struggles to overcome the $0.00001 resistance level. Nonetheless, the popular cryptocurrency has witnessed a healthy rally over the last few weeks. SHIB’s price is up by 2.6% in the weekly charts, 10.7% in the 14-day charts, and 3.6% over the previous month. However, the asset is still down by 26.8% since February 2023.
Also Read: Shiba Inu (SHIB) Could Rally 51% to $0.0000149: Predicts Analyst
When will Shiba Inu (SHIB) delete a zero?
According to Changelly, Shiba Inu (SHIB) could delete a zero in the first week of March, hitting a price of $0.00001019 on Mar. 3, 2024. Reaching $0.00001019 from current levels would translate to a growth of about 3.5%. However, the platform does not expect SHIB to hold this price level, predicting the asset to regain a zero after its decimal on Mar. 7, 2024.
Also Read: Shiba Inu: What Will Accelerate SHIB Rally to $0.0001?
CoinCodex, on the other hand, anticipates Shiba Inu (SHIB) to delete a zero this week. The platform predicts SHIB to hit $0.00001045 on Feb. 23, 2024, a rise of about 6.2% from current levels.
Telegaon predicts SHIB to hit a maximum price of $0.0000571 in 2024. Reaching this level from current prices would translate to a growth of over 480%. However, Telegaon does not clarify when SHIB could reach $0.0000571 in 2024.
Shiba Inu (SHIB) fans and investors are enthusiastically pursuing a higher price for the asset. However, despite the market rally, SHIB has struggled to delete the zero it gained in December last year. The SHIB team is working on a new burn mechanism, rumored to burn trillions of tokens yearly. Reducing SHIB’s supply may help push its price higher.
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