Following Shiba Inu’s massive surge in late February and early March 2024, there has been speculation on the meme coin’s chances of reaching $0.01.
The price surge instilled confidence among investors, leading to a resurgence of predictions for significant growth. The $0.01 target, once dismissed by some, has become a central point of conversation within the community.
Lucie (@LucieSHIB), the Shiba Inu marketing lead, recently expressed her belief in SHIB’s potential to reach $0.01. While acknowledging her hesitation to comment during the initial price surge, Lucie emphasized her long-term commitment as an investor since 2021. She has consistently believed in SHIB’s ability to achieve ambitious price targets, including $0.01. However, she cautioned that this goal may not be achieved soonest.
Previously, reaching $0.000045 seemed out of reach, requiring a monumental increase of over 700% from its June 2023 low of $0.00000543. However, SHIB defying expectations has fueled optimism for similar feats in the future.
Will Shiba Inu (SHIB) Reach $0.01?
Several factors contribute to this renewed bullish sentiment. The ongoing burn initiative, which aims to reduce SHIB’s circulating supply, is a prime example. SHIB has a deflationary model where token prices can increase as supply reduces. The upcoming automated burn portal will significantly speed up token burns, potentially accelerating SHIB’s growth.
Another factor is a recent list compiled by Lola (@CryptoLollla), a prominent community figure, outlining 15 reasons for investor confidence in Shiba Inu (SHIB).
These reasons include recognition in Hong Kong, potential ties with Robinhood, the non-security classification, widespread exchange support, a highly active community, and its security and interoperability. Additionally, Lola highlighted the complete circulation of the total SHIB supply and the project’s decentralized nature as positive indicators.
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When Will SHIB Reach $0.01?
While Lucie is confident that SHIB will eventually reach $0.01, she does not give a timeframe. However, others have weighed in on the topic, as Changelly, a popular cryptocurrency trading platform, has shared a Shiba Inu price prediction chart suggesting that SHIB could hit $0.01 by August 2040.
The Shiba Inu community’s faith and recent positive developments have revived discussions about the $0.01 target. While the exact timeline remains uncertain, SHIB’s potential for future growth and bullish predictions from prominent analysts continue to spark excitement.
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