The Shiba Inu (SHIB) market witnessed a major spike over the past couple of weeks. The meme coin’s uptick paid off as several investors were pocketing major gains after SHIB went stagnant for years. Several investors continued buying the asset in hopes of bagging big gains in the future. But a few others were selling and decided to enjoy immediate profits. Amidst this, an analyst made headlines for his views on the same.
Also Read: US Economy: Debt Is Breaking America’s Back, Gnawing At Her Freedom
Can Shiba Inu Realistically Hit 50 Cents?
Over the past month, Shiba Inu witnessed a 27% rise. The meme coin went from trading at a low of $0.00001654 all the way to a high of $0.00002896. This uptick prompted Carl, a Forbes 30 under 30 and to boldly state in a recent post on X that he would not cash out his Shiba Inu holdings until the price of SHIB hits “at least” $0.50.
I will not sell $SHIB until at least $0,50!
— The Moon (@TheMoonCarl) November 16, 2024
SHIB’s past performance, especially in 2021, has a significant impact on this projection. The analyst, who often appears on FOX and CNBC, is hoping Shiba Inu will do as well as it did in the past. He believes that the asset may rise toward the $0.50 mark if it quickly acquires any upward momentum.
Shiba Inu, at press time, was trading at $0.00002444 following a 0.15% drop over the past 24 hours. SHIB will have to surge by a staggering 2,045,823% in order to reach $0.50. Considering the asset’s growth over the year, achieving this mark may seem impossible. But it should be noted that SHIB has managed to rise by 1834670.45% since its all-time low.
Also Read: Bitcoin Reserves: MicroStrategy Outshines Berkshire, Predicts $500K Surge
Price Prediction
According to data from Telegaon, reaching $0.50 will take time for the meme coin but isn’t an impossible feat. The firm revealed that SHIB will surge to this high between the years 2040 and 2050.
Also Read: Cryptocurrency Trader Turns $33K Into $12.2 Million In 24 Days
Credit: Source link