$SHIB Inu (SHIB) could potentially remove a zero from its price in 2024, which would require a significant increase of over 400% from its current value of $0.0000199. But how likely is such a jump? The chances are relatively low. With the growing competition from various dog and cat-themed cryptocurrencies, itâs becoming harder for $SHIB to stand out and achieve that kind of growth.
Back in 2021, SHIB saw an impressive rise, gaining 2,140% in just 50 days, which led to it successfully dropping a zero from its priceâgoing from $0.000004 to $0.000089. This surge was fueled by strong marketing and a general bull market. However, the situation has changed since then. Investors now have more options, including frog and cat-themed cryptos, as well as new projects linked to the upcoming 2024 U.S. elections. This wider range of choices has spread liquidity thin, making it harder for any single token, like SHIB, to see the same kind of explosive growth.
While the last quarter of the year is often favorable for crypto, itâs unlikely $SHIB will rally enough in 2024 to drop a zero from its price.
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