Shiba Inu (SHIB) has been making waves in the crypto world recently, with a significant price increase. In the past 24 hours, SHIB has surged 16% to $0.00002929, attracting the attention of crypto enthusiasts and investors. As excitement builds, the big question is: will SHIB ever reach the much-hyped $1 mark, especially with the recent buzz surrounding Bitcoin’s growth?
In this Shiba Inu Price Prediction article, we'll dive into SHIB's latest price action, the factors driving its rise, and explore whether this bullish momentum can push it closer to that $1 target.
How Has Shiba Inu Prices Changed Recently?
As of today, Shiba Inu (SHIB) is trading at $0.00002913, with a 24-hour trading volume of $5.79 billion, a market cap of $17.17 billion, and a market dominance of 0.57%. SHIB's price is up 15.21% in the past 24 hours, showing strong bullish momentum.
SHIB reached an all-time high of $0.00008819 on October 28, 2021. The all-time low was recorded on November 28, 2020 at $0.0000000005637. Since its peak, SHIB's lowest drop was $0.00005821, while its highest recovery since then was $0.00004501. Currently, the sentiment around SHIB remains bullish and the Fear & Greed Index shows "Greed" with a score of 69.
The circulating supply of SHIB is 589.27 trillion out of a maximum total supply of 589.74 trillion. With an annual supply inflation rate of -0.01%, approximately 79.56 billion SHIB were removed from circulation last year.
Why is Shiba Inu (SHIB) Price UP?
Shiba Inu (SHIB) is experiencing a significant price surge, largely due to increased activity among large-scale investors, or “whales.” Just two days ago, trading volume spiked 150.47%, with approximately 6.47 trillion SHIB tokens—worth approximately $123.18 million—changing hands. This increase in whale activity typically signals confidence among mainstream investors, potentially indicating expectations of future gains.
When large holders make significant moves, this often sparks curiosity and optimism in the broader market, attracting smaller investors and increasing buying pressure. This continued demand from both large and small investors has contributed to SHIB’s recent surge.
Looking ahead, technical indicators show a clear map of key levels that could determine SHIB's trajectory. Currently, the key point for SHIB's price is at $0.00002859. If SHIB can sustain the upside momentum above this level, the immediate resistance at $0.00003105 could come into play.
A successful breakout would see SHIB test the next resistance at $0.00003315, with a stronger hurdle at $0.00003536, potentially marking a sustained bullish trend.
On the downside, SHIB's immediate support level is located at $0.00002636. If SHIB falls below this level, the next support levels at $0.00002462 and $0.00002374 could be tested. How the market reacts at these support and resistance levels will determine whether SHIB can maintain the uptrend or see a pullback.
If whale activity continues and SHIB holds above the pivot point, a sustained rally towards higher resistance seems possible, potentially attracting greater trading volume and investor interest.
Shiba Inu Price Prediction: Will SHIB Hit $1 After Bitcoin Craze?
Although Shiba Inu (SHIB) has shown impressive growth over the past year, with a 232% price increase outperforming 77% of the top 100 cryptocurrencies — even surpassing Bitcoin and Ethereum — the coin’s path to $1 remains highly unlikely based on current calculations and technical factors.
To reach $1, the SHIB price would need to increase by thousands of times its current price, resulting in a market capitalization in the trillions, far exceeding the entire current cryptocurrency market capitalization.
To reach a price of $1 from its current price of $0.00002913, Shiba Inu (SHIB) would need to increase by approximately 3,432,787%, an extremely unlikely growth rate given current market conditions and capital requirements. Given SHIB’s current market position, such a valuation would put SHIB’s market capitalization much higher than that of established assets like Bitcoin, which is impossible without a significant, unprecedented shift in both demand and market structure.
Technically, SHIB's performance indicators show strength, as it is currently trading above its 200-day simple moving average—a positive sign for continued growth. However, with 15 green days in the past 30 days, the coin may be approaching overbought territory, which is often a precursor to a price correction.
Additionally, with SHIB's price still down 67% from its all-time high, a break above the previous resistance levels alone would require significant and sustained buying pressure, which is currently absent from the market.
Another factor to consider is SHIB's high liquidity relative to its market capitalization, meaning that a significant inflow of capital is needed to sustain the rally. While SHIB's negative annual inflation rate (-0.01%) shows some deflationary characteristics, it is not large enough to drive a parabolic price increase to $1.
While SHIB's recent performance and technical indicators suggest a solid position, reaching $1 is mathematically impossible without an unusual and uncertain combination of factors, including large capital inflows and continued deflationary adjustments. Based on these calculations, SHIB is unlikely to reach $1 in the near future.
