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Is Shiba Inu going to turn one cent?

Given the popularity of the dog meme cryptocurrency Shiba Inu (SHIB), as well as the intense work of its developers on building the ecosystem, a question arises as to whether this digital asset is capable of someday reaching a price of one cent.

As it happens, Shiba Inu had demonstrated the capacity for making sharp upward moves in the past, including in mid-August, when it reached $0.00001119 upon the announcement of the Shibarium launch and during its all-time high (ATH) in October 2021, when it peaked at $0.0000819.

That said, the above occurrences were significantly lower than the coveted $0.01, which means that the crypto asset has a long journey to even near it. However, certain factors could assist its efforts, including the further advancement of Shibarium, mass adoption by retail and institutional investors, new use cases, and major partnerships.

Shiba Inu price prediction

If artificial intelligence (AI) algorithms deployed by the crypto market analytics platform CoinCodex are correct, $0.01 is out of the question for Shiba Inu any time soon, or at least in the next decade or so, although they are nonetheless bullish on its future price.

Specifically, they have set the price of SHIB at $0.00001450 by October 18, 2024 (an increase of 115.65%), at $0.00002136 on December 31, 2025 (up 217.67%), at $0.00005301 on December 30, 2030 (a 688.37% gain), at $0.000179 on December 27, 2040 (up 2,562.12%), and at $0.000305 by Christmas 2050 (a 4,436.02% growth).

Shiba Inu price prediction until 2050. Source: CoinCodex

Shiba Inu price analysis

At press time, Shiba Inu was changing hands at the price of $0.000006723953, which indicates a decline of 2.13% in the last 24 hours, as well as a 2.09% drop across the previous seven days, adding up to the cumulative loss of 8.99% on its monthly chart, as per the latest data retrieved on October 19.

Shiba Inu 7-day price chart. Source: Finbold

All things considered, Shiba Inu may or may not reach the price of $0.01 one day, but even if it does not, algorithms and developments around it suggest a bright future and a significant appreciation in the price of this digital asset in the years to come.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.


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