- Advertisement -

  • Shiba Inu has been predicted to “kill” more zeros to hit $0.02 by the next decade as a Web3 analytics platform digs into its potential. 
  • The meme coin is expected to undergo another massive burn which could send the price to a new height. 

The discussions surrounding Shiba Inu (SHIB) have transcended beyond the $0.01 possibility as analysts shift the target line to $0.02. This comes after the meme coin made an impressive run to hit $0.00001 following a 3.4% surge in the last 24 hours and an 8% surge in the last seven days.

Shiba Inu currently has a bullish score of 79/100. To early backers, the meme coin could make an astonishing ascent to hit $0.02 as the asset has “killed” similar zeros in the past. It can be recalled that the meme coin at a point in its history surged from $0.00000000008165 to the current $0.00001007, “killing” six zeros in the process. This represents more than 12,000,000 percent growth. 

Telegaon’s Assessment

Web3 analytics platform Telegaon was consulted to establish the possibility of the meme coin trading this high. According to the results, $0.02 is possible but not in the short term. The platform understood that Shiba Inu is transitioning from its meme status to a technically focused project, and could be a big boost for its price. According to the platform, the minimum this asset can trade before the end of the year is $0.0000121. 

Taking a look at the future, Telegaon predicted that Shiba Inu would move up on the price curve to hit a minimum high of $0.000207 by 2028. From there, the meme coin would proceed to hit $0.000312 within that same year. A price point of around $0.000712 is expected to be seen in 2030 with the possibility of a 2-cent trading price occurring in the next decade. Telegaon further predicts that Shiba Inu will be trading around $0.05 by 2040. 

More on the Shiba Inu Price Analysis

One of the major catalysts to these price heights is the token burn mechanism. According to Shiba Inu’s lead developer Shytoshi Kusama, $1.21 million in Shiba Inu would be burnt through the Shibarium’s fees. Recently, it was reported that 8,615,169,427 SHIB tokens have been burnt in a single transaction as part of the second on-chain burn. This was equivalent to $87K as of the time of the transaction.

A month ago, Shibarium dev Kaal Dhairya unveiled the dual Shibarium burning mechanism which has so far taken 18.8 billion tokens out of circulation. Kusama has also disclosed another massive on-chain burn. 

As Billions of Shib prepare for roasting (yes, it is in progress), and Shibarium transactions are worthy of toasting 🥂… I continue to look forward to next week’s announcement. Let’s talk about it. Impactful burns will only take place through global adoption. We’ve seen adoption trickle in through 2023, but what can be done to ensure $Shib adoption worldwide perpetually? For this, a web of decentralized leaders, early adopters, and those tired of the status quo must usher in a new era of crypto, blockchain, and Web3.

Taking these developments into consideration, a price prediction platform has predicted that Shiba Inu could finish the year at a minimum price of $0.000013. On average, the meme coin is expected to trade at $0.000016 but can proceed to a maximum price of $0.000019 by December 31. 

 

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.


Credit: Source link

Leave a Reply

Your email address will not be published. Required fields are marked *