Shiba Inu Price Prediction After SHIB Surpasses Bitcoin Cash – Is $1 SHIB Possible?
From late February to early March, the price of Shiba Inu Coin (SHIB) rose wildly, and its market value quickly surpassed Bitcoin Cash (BCH), triggering the market's long-term optimistic predictions for SHIB. Although its price has fallen from its March high, it is still up 2.5 times from the beginning of the year.
The current market value of SHIB is $0.0000269, with a market value of about $16 billion, surpassing Bitcoin Cash's $13 billion market value. To reach $1, SHIB needs to rise nearly 40,000 times, which is almost impossible.
From a technical analysis perspective, SHIB may test the support level of $0.000024. If it can find support here, it may break the recent downtrend and is expected to retest the high of $0.000045.
However, investors should note that due to the already large market value of SHIB, its huge profit potential is limited. In contrast, the new meme coin Dogecoin20, as an Ethereum modification of Dogecoin, provides a staking option and has raised more than $10 million in the pre-sale stage. Its investment income potential may be more considerable. For investors seeking high returns, this may be an option worth considering.
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