A recent report has made headlines for claiming that the digital asset Shiba Inu (SHIB) could rise by an astonishing 101,358,099%. The report published by the crypto research firm Analytics Insight, which has since been deleted due to its speculative nature, suggests that the digital asset could reach such a staggering growth rate if it is able to successfully complete its goal of becoming a “decentralized autonomous organization” (DAO).
The analysis claimed Shiba Inu (SHIB) could move up to $10 if by 2024 it successfully completes its goal to become a DAO.
The report says if Shiba Inu is able to become a DAO, it would have the potential to become large and powerful. This would give it the potential to become a major player in the crypto world and could lead to a significant price increase.
However, the report also notes that such a growth rate is far from certain. It states that the success of Shiba Inu’s DAO project is dependent on a number of factors, such as its ability to attract developers, its ability to build a strong community, and its capacity to develop and maintain a secure platform.
In addition, the report also warns that any significant increase in the price of Shiba Inu could lead to a rapid sell-off, as investors may be tempted to cash out while the asset is still at a high price.
Read Also: Shiba Inu Burn Rate Rises Up To 1600% As Single Wallet Burns 247 Million SHIB
Shiba Inu (SHIB) Realistic Target
Rather than the unrealistic pump of 101,358,099%, which could see the coin move to $10, crypto enthusiasts have set their realistic target price at either $0.0001 to $0.001. The management, Shibarium is expected to burn SHIB with 70% of base transaction fees, supporting the burning campaign.
This burning process could help provide support for Shiba Inu’s price movements. This development could make crypto enthusiast target for SHIB a reality.
Overall, the report’s claim of a 101,358,099% growth rate for Shiba Inu is certainly eye-catching. However, it also serves as a reminder of the risks associated with investing in digital assets and highlights the importance of doing your own research before investing in any digital asset.
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