The cryptocurrency industry has witnessed the emergence of a range of coins. In particular, meme coins have dominated the market. Shiba Inu (SHIB), a relatively new meme cryptocurrency, has emerged as a community-favored cryptocurrency. This asset was launched in 2020 and has grown by 1,944,604.08% since then. Can this asset increase in price over the next year and reach the long-awaited milestone of 1 cent?
The current price of Shiba Inu
The entire market is in a bullish trend. Some assets, including Shiba Inu, have increased by more than 2% over the past 24 hours. At the time of the press report, this meme coin is trading at $0.00002589. Over the past 12 months, this cryptocurrency has recorded a spike of 212%. Shiba Inu has skyrocketed to a high of $0.00004534 from a low of $0.000008156 during this period.
Despite the price increase, the market capitalization of this asset has recorded increased volatility. After entering the coveted top 10 earlier this month, SHIB has witnessed a significant drop. Shiba Inu is currently the 14th largest cryptocurrency with a market capitalization of $15.24 billion.
The Dream of 1 Cent
Shiba Inu has attempted to reach the milestone of 1 cent for several reasons. The community of this meme coin has been seen betting on this. However, the asset must rise by about 38,530% to reach this level. Considering the asset's past growth, this is not entirely impossible.
According to CoinCodex, the highest SHIB will rise to in the next year is $0.000113. This is an increase of 337% compared to the current price. Additionally, Shiba Inu will reach this high in June 2025. This figure is quite far from the coveted 1 cent milestone. The lowest price this meme coin will have is $0.00002156. The average trading price of Shiba Inu will be around $0.00004533, quite high compared to its current price.