Shiba Inu (SHIB) investors have long targeted a price of $0.01, colloquially known as the “one cent dream.” However, before reaching 1 cent, the popular dog-themed memecoin must remove a few zeros and reach the $0.0001 level. According to some forecasts, this may take longer than many expect.

According to Gov.capital’s analysis, Shiba Inu (SHIB) will not reach $0.0001 before October 2027, or four years from now. Reaching $0.0001 would mean an increase of about 1288.6%.

On the other hand, Changelly predicts that by 2029, six years from now, the price of SHIB will reach $0.0001. Furthermore, the company predicts that by 2032 the price of SHIB will reach $0.0002.

How did Shiba Inu reach $0.0001?

SHIB has risen rapidly in 2021, growing by thousands of percentage points. However, one of the biggest promoters was Ethereum co-founder Vitalik Buterin, who consumed nearly half of SHIB's entire supply. Buterin received half of the token supply when it launched in August 2020. However, he decided to destroy 90% of it and donate the rest to charity. If the SHIB team can carry out such a large-scale destruction again, it will greatly help drive the price of the asset. The team is working on a new destruction mechanism that can reportedly destroy trillions of tokens per year.

However, as the Shibarium (SHIB) lead developer pointed out, burning alone will not drive up the price of an asset. The burn must be met with increasing demand. To increase demand, the team is working on several real-world use cases for SHIB. The project launched the Shibarium layer 2 blockchain in August this year, which will allow developers to build on SHIB. This could ultimately drive up demand.

At press time, SHIB is trading at $0.00000720, down 0.4% over the past 24 hours.