If Shiba Inu rises like it did in 2021, can it reach $1?
This is basically impossible. The huge supply of Shiba Inu, coupled with the fierce competition from emerging meme coins, it is difficult to support its rise to $1 even if the market rebounds.
Currently, the price of Shiba Inu is consolidating around $0.000015. The fourth quarter usually brings hope for a market rebound, but it is still unrealistic to rise as much as in 2021 and push it to $1.
In 2021, Shiba Inu experienced a crazy rise of 45,000%, but the current market environment and competitive situation are completely different. New meme coins such as Dogwifhat (WIF) and Bonk are attracting investors, and even cat-themed tokens such as Popcat and Mog have joined the competition, making Shiba Inu's position no longer as solid as before.
In general, although Shiba Inu still has room to rise, it is almost impossible to reproduce the grand occasion of 2021 and rise to $1 due to the huge supply and increased competition. Investors are also increasingly focusing on practicality rather than relying solely on social media hype.
not What do you think🤔
