Shiba Inu continues to draw attention from cryptocurrency enthusiasts and market analysts, despite its current underperformance. Some remain optimistic about the token’s long-term prospects.
Current Market Standing
The token is currently trading at $0.00001105, showing a 2.37% decline in the last 24 hours and an 8.17% decline in the last week. Over the last 30 days, the token has lost 27.98% of its value. According to CoinMarketCap, SHIB holds the 19th position among cryptocurrencies, with a market capitalization of approximately $6.7 billion.
Despite recent losses, long-term supporters believe SHIB could still achieve substantial gains, referencing its explosive growth during the 2020–2021 bull run when it surged by over 150,000,000%. Achieving the $0.01 mark would require an increase of over 87,000%. However, such a price would give SHIB a market valuation of nearly $5.89 trillion, an amount that far exceeds the current total market capitalization of all cryptocurrencies combined.
Possibility of Reaching $1
A $1 price point for SHIB is considered even more improbable by most analysts, as it would require a surge of nearly 8.8 million percent. At this valuation, SHIB's market cap would exceed $589 trillion, significantly surpassing the value of global financial assets and even the total money supply, which was estimated at $129 trillion in Q2 2024.
Still, the $1 forecast is occasionally discussed within the community. Lucie, Shiba Inu's marketing lead, has echoed the sentiment that while achieving $0.01 would take time, it remains a realistic target given sufficient development and market support.
Forecast Timelines
Neither Delgado nor Lucie has provided specific timelines for when SHIB might reach $0.01 or $1. To address this gap, predictions from platforms such as Changelly and Telegaon offer some guidance. According to Changelly, SHIB could reach the $0.01 mark by September 2040. Telegaon shares a similar estimate, projecting that SHIB may hit $0.08 by the end of 2040 and could even exceed $1 by 2050 under highly favorable circumstances.
While there is a strong base of support for optimistic price targets, reaching $0.01 or $1 would require unprecedented market movements or a dramatic reduction in Shiba Inu's circulating supply.
Price forecasts for Shiba Inu remain a topic of active discussion within the cryptocurrency community. However, it is clear that achieving these ambitious goals will require significant changes in market conditions.
