Can Shiba Inu (SHIB) reach $0.01 in 2030?

Shiba Inu (SHIB) has finally broken through the $0.000008 resistance level and is up over 23% in the past month and 8.5% in the last week. However, despite the recent surge in prices, since January 2023, SHIB has seen Bitcoin (BTC) rise by more than 120% during the same period, while Solana (SOL) and Chainlink (LINK) have gained more than 300% and 160% respectively. Despite this, SHIB fans and investors are still looking forward to this "doghead coin".

Can the Shiba Inu reach $0.01 by 2030?

For SHIB to reach a price of $0.01, it would need approximately 117,000%. This level of growth is not unprecedented for this project. Between its launch in August 2020 and its all-time high in October 2021, the Shiba Inu surged almost 67,000,000%. Therefore, a 117,000% increase is not impossible. However, there are many other drivers for SHIB's rally in 2021.

First, Ethereum (ETH) co-founder Vitalik Buterin received half of the circulating supply of Shiba Inu (SHIB) at the project’s launch. However, Buterin decided to extrapolate 90% of the tokens he received. These extrapolations resulted in a significant reduction in SHIB supply. If SHIB is to have a massive surge like it did in 2021, the project will need to do token reasoning on a similar scale. The team said it is working on a new reasoning mechanism, and it is rumored that trillions of tokens will appear every year. However, the team has not yet given any preliminary release date.

However, necessary necessary steps were taken to drive the token price. According to Shiba Inu (SHIB) lead developer Shytoshi Kusama, the project needs to gain mass adoption. The project recently launched its Layer-2 network Shibarium, which may lead to more applications built on top of SHIB, which may lead to increased usage.

Therefore, SHIB is expected to reach a price of $0.01 in 2030, but there are conditions for reaching this level. First, the project will have to reduce its supply, and second, it will need to promote large-scale rollout.