Hereâs One Way Shiba Inu Could Spike to $1.2
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The ongoing mild recovery across the broader market is reflected in Shiba Inuâs price, which has surged 6.56% in the daily chart. Amid the mild recovery, Shiba Inu surged above the $0.000015 territory in the late hours of yesterday.Â
Following its remarkable performance, several market watchers and analysts have issued favorable projections for the dog-themed token.Â
CoinW Predicts SHIB Could Hit $1Â
As reported this week, leading crypto exchange CoinW hinted that SHIBâs price could soar by a whopping 7,627,665% to $1. CoinW made this forecast alongside a series of other bold predictions, such as Bitcoin hitting $100,000 and Cardano (ADA) surging to $5.Â
As expected, CoinWâs prediction of Shiba Inu hitting $1 sent shockwaves into the crypto community due to the assetâs hefty circulating supply of 589.27 trillion tokens. Moreover, surging to $1 requires SHIB to eliminate the four zeros after its decimal.Â
SHIB Could Hit $1.2 If It Repeats Its 2020/2021 Success StoryÂ
Nonetheless, if the asset replicates its 2020/2021 success, Shiba Inuâs price could potentially increase beyond CoinWâs $1 projection to $1.2. It bears mentioning that Shiba Inu recorded an impressive growth of 76,000,000% between 2020 and 2021.Â
Shiba Inu, which launched in August 2020 as just another memecoin in the market, gained immense popularity a few months later. Its popularity surged tremendously after Ethereum founder Vitalik Buterin, who received 50% of SHIBâs total supply from Shiba Inu founder Ryoshi, burned 410 trillion of these tokens and donated the remaining to charities. Also, several crypto exchanges, including Binance and Coinbase, listed $SHIB for trading.
