Shiba Inu (SHIB) is back in the spotlight due to a prediction that has sparked discussions within the cryptocurrency community. Investors are considering the potential for a significant price increase.
Current Situation Regarding SHIB Price
At the time of writing, SHIB is trading around $0.00001173 with a slight daily gain of 0.92%. However, over the past month, the meme cryptocurrency has faced a 20% drop, and recovery attempts have stalled just below the $0.000012 mark.
Long-Term Growth Predictions
Some long-term forecasts suggest that SHIB could reach a price of $0.0007, which would require an almost 6,000% price increase from current levels. Experts disagree on when this might happen: Changelly predicts a timeframe between 2035 and 2039, while Telegaon suggests it could occur as soon as 2030.
Impact of Supply on SHIB Price
To reach the target price of $0.0007, a significant reduction in circulating supply is necessary. According to previous analyses, if the supply is reduced from 589 trillion to around 10 trillion tokens, this could become realistic. Otherwise, reaching $0.0007 without supply adjustments would result in a market cap exceeding $412 billion, surpassing Ethereum's current value.
The cryptocurrency market remains unpredictable, and many SHIB holders continue to hope for significant growth. However, achieving targets like $0.0007 necessitates addressing the token supply issue.
