🔥🚀🚀Shiba Inu: How Can SHIB Increase 100% From Current Price?
Shiba Inu (SHIB) has had its share of ups and downs. August October 2020, Memecoin has increased millions of percent from its launch to an all-time high of October 2021. But SHIB has been on a downward trend since then. The dog-themed cryptocurrency is currently down more than 80% from its peak of $0.00008616 in 2021. Nevertheless, fans and investors are hopeful that SHIB can regain the momentum it lost.
If the Shiba Inu (SHIB) had risen by 100%, its price would have reached around $ 0.00002036. According to Changelly, the SHIB could reach this level a year later in 2025. Therefore, the current price levels can be a good entry point for new investors. Investors can potentially make a 100% profit by holding the token for a year.
On the other hand, Telegaon expects SHIB to reach its target of $ 0.00002036 in 2024. The platform predicts that the minimum price for 2024 will be $ 0.0000221 and the maximum price will be $ 0.0000571.
Other factors that may affect the price of Shiba Inu (SHIB)
Many other factors may affect the price of SHIB much earlier than expected. First, the SHIB team is working on a new combustion mechanism. Although we do not have an official launch date, the new burning portal can remove trillions of tokens every year. Some estimates say that the new burning mechanism can remove one trillion tokens per month. The enormous supply of SHIB is one of the most important obstacles to its price. If the team can reduce the number of tokens in circulation, this can positively affect the price of the asset.
The second factor that can affect the price of Shiba Inu (SHIB) is adoption. If we see an increase in mass adoption, the price of SHIB may start to increase. The project launched the layer 2 network Shibarium in August 2023. The network can enable the adoption of more applications in the SHIB ecosystem.
Both developments can move the price of SHIB much faster to the target of $ 0.00002036.
