- Shiba Inu (SHIB) gained 7.3% in the past day to set its highest price for the past month at $0.00001071 as it reverses a downtrend affecting most coins.
- A report by Changelly predicts that the token will end the year around this price level and that the closest it can hit $0.0001 is 2029 and won’t shed another zero in the next decade.
Shiba Inu was once the most radical movers in the top 100 cryptos, but as the market cap has shot up to place the meme coin in the top 20, the volatility has slowed down. However, in the past day, it showed glimpses of its big market moves as it reversed a month’s losses. But according to a recent report, investors will be waiting for years before the token hits $0.0001.
At press time, the meme coin is changing hands at 0.00001069, gaining 7.3% over the past 24 hours. This made it the third-highest gainer in the top 100 cryptocurrencies, ranking only behind Axelar and the Internet Computer.
The massive daily gains pushed Shiba Inu’s market cap to $6.3 billion, ranking 16th on the charts, just behind Polygon and Chainlink and cementing its position as the second-largest meme coin after Dogecoin.
One of the key factors behind the surge is a campaign by lead developer Shytoshi Kusama to push Shiba Inu beyond speculation. He recently delved into his plans to push for the adoption of the token and Shibarium, its layer two network built on Ethereum. He recently hinted at a “partnershib” that would lead to a spike in the burn rate of SHIB tokens, reducing supply and pushing the price.
When is $0.0001 for Shiba Inu?
The Shiba Inu community has been pushing the token to hit the coveted $0.0001 price level. At its current price, the token would need to gain close to 10x, effectively pushing its market cap to $63 billion (for context, only BTC, Ether and USDT would be worth more).
However, according to a new report, the community will be waiting years before this happens. The report by Changelly, a crypto trading platform, delved into the market dynamics of the meme coin and predicted its price for the next month, all the way to 2032.
Changelly predicts that the token will end this year at $0.00001061, which is around the same price it’s trading today, and thus, SHIB is expected to have a relatively calm end to the year. Next year, SHIB will average at $0.000099, says the report.
“Our technical indicators signal about the Bullish Bullish 90% market sentiment on Shiba Inu, while the Fear & Greed Index is displaying a score of 67 (Greed),” says the report.
SHIB will perform better in the next year but over the next five years, the price will trade in the same range, Changelly predicts.
The coveted $0.0001 will only come around in 2029, says the exchange, predicting the average price to be $0.0001009 while the highest it will go will be $0.000117 and the lowest will be $0.0000969. Changelly expects the token to hold steady above this important level in 2030, and the year after, it will hit $0.0002 for the first time. In 2032, it will touch $0.0003, peaking at $0.00035.
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