Bitcoin Trader States Why $0.01 Shiba Inu (SHIB) Price Can’t Happen

Shiba Inu (SHIB) has become a crypto of keen interest with various analysts, investors, and traders offering a range of predictions for its future value. One such person is Oscar Ramos, a Bitcoin trader who believes SHIB is less likely to reach $0.01 due to its current token supply.

In a post on X, Analyst Oscar Ramos shared a price prediction chart from Telegaon outlining SHIB’s potential price trajectory from 2024 to 2050. The data suggests a staged increase, with minimum, average, and maximum prices gradually rising.

Captioning the screenshots, Oscar Ramos wrote, “Are you serious? I mean, 20 years from now is not that bad for me, but honestly, I don’t think $SHIB can go past 1 cent with the current Shiba Inu Supply. Time will tell. Hope I’m wrong #SHIBARMY.”

Read Also: We Asked ChatGPT if Shiba Inu (SHIB) Will Hit All-Time High in 2024, Here’s What It Said

Details of Prediction and Reaction

For example, the range for 2024 is between $0.0000421 and $0.0000601, potentially reaching $0.0000945 to $0.000198 by 2027. This initial phase signifies a period of potential market stabilization and slow price appreciation.

The projections depict moderate growth from 2028 to 2030, with average prices rising from $0.000289 to $0.000646. A significant milestone is expected by 2035, with the maximum price potentially exceeding $0.002. This mid-term phase could be driven by increased adoption and rising investor confidence.

However, the most striking predictions lie beyond 2040. Telegaon suggests an exponential surge, with the average price reaching $0.076 by 2040 and surpassing $1.00 by 2050. It’s important to note that such long-term forecasts are highly speculative and depend heavily on unforeseen future market conditions.

Analyst Divergences: Bullish Outlooks vs. Supply Concerns

Several analysts hold varying opinions on SHIB’s future price path. Bitcoin analysts Jason Williams and Yazan proposed a target of $0.05 for SHIB in the current bull market, contingent on Bitcoin reaching $250,000 to $777,000. This scenario would necessitate a tremendous 200,703% increase for SHIB by 2025 to eliminate three decimal places from its current price.

Other analysts, like Dona, Eunice Wong, and Bunchhieng, believe SHIB’s price could reach $0.000114 within the current market cycle, while some hold a long-term target of $0.05 by 2040. Shiba Inu content specialist Lucie exemplifies ongoing optimism, expressing confidence in SHIB reaching $0.01.

Read Also: Shiba Inu (SHIB) Seamless Token Burn Is Almost Here With Latest Development

Community Efforts: Burning Tokens to Reduce Supply

Oscar Ramos argues that exceeding $0.01 is improbable with the current SHIB supply. With this in mind, the community has implemented burn mechanisms to reduce the circulating supply and potentially drive up the price of SHIB. However, significant and sustained burning is necessary to make a meaningful impact.

Data from Shibburn (as of May 19, 2024) indicates a burn rate exceeding 9.8 million tokens within 24 hours, with a corresponding value of $234.84. This represents a substantial increase of 579.08% compared to previous rates. The ongoing burn efforts demonstrate the community’s commitment to influencing SHIB’s long-term value.

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