Will Shiba Inu Price Hit $1 if SHIB Rallied Like in 2021?
If SHIB Rallied Like in 2021, Will Shiba Inu Price Hit $1 in 2024?
In 2021, the Shiba Inu price saw an extraordinary surge of 45000% between January and May. After a notable correction, the coin price offered another 1500% jump to mark an all-time high of $0.00008845 in October.
While a 2021-like rally could provide explosive profits to SHIB holders, hitting the $1 target seems virtually impossible. Hereâs why:
Massive Circulating Supply: Despite ongoing efforts to burn tokens, there are still hundreds of trillions of SHIB in circulation. To reach the $1 target, the Shiba inu market cap needs to grow exponentially, even surpassing Bitcoin and Ethereum combinedâ an unrealistic scenario given the currency market condition.
Previous Rally Context: In 2021, the SHIB price rally was driven by a perfect storm of social media hype, meme culture, and an influx of retail investors. While these factors could drive the notable rally, the market may not offer a rally of similar magnitude, given the alternative investment options.
2021 Rally isnât enough: Even if Shiba Inu price prediction shows a similar 45000% surge from its current value of $0.0000154, its worth will rise to approximately $0.00698, not $1.
Will the Shiba Inu price hit $1 if SHIB rallies like in 2021? The answer is no, given the massive supply, emerging competition, and investorsâ need for better utility than just social media hype.
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