Shiba Inu (SHIB) has turned many early investors into multi-millionaires and, in some cases, even billionaires. While SHIB’s price has been on a downward trend after its October 2021 highs, the asset may hit a new peak next month.
According to CoinCodex, SHIB could delete another zero in April 2024. According to the platform, the dog-themed crypto could surge to $0.0001 on Apr. 24, 2024.
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To have one million dollars worth of SHIB at $0.0001, you will need 10,000,000,000 (10 billion) tokens. The price of 10 billion SHIB right now is about $303,700. In this scenario, the portfolio’s value would surge by around 229%.
When will Shiba Inu (SHIB) hit $0.01?
While SHIB may hir $0.0001 in April, fans and investors have long pursued much higher prices for the dog-themed crypto. In particular, SHIB fans have long targeted the “one-cent dream.” However, the journey to $0.01 is not easy.
According to Changelly, SHIB could hit the $0.01 target sometime between 2033 and 2040, about nine to sixteen years from now. Telegaon, on the other hand, predicts SHIB to hit the one-cent mark sometime between 2035 and 2040.
Also Read: If You Put $1000 In Shiba Inu on Jan 1, 2024, How Much Could You Make?
One of the most significant barriers to Shiba Inu’s (SHIB) price is the project’s massive supply. However, the SHIB team is reportedly working on a new burn mechanism, rumored to burn trillions of tokens yearly. If the SHIB team can drastically reduce the asset’s supply, we may witness a massive surge in the asset’s price. However, we do not have an official launch date for the new burn mechanism.
Furthermore, burns alone may not help push SHIB’s price. The project will also need to see an uptick in mass adoption to drive prices higher.
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