Yes, Shiba Inu (SHIB) can drop a zero from its price in 2024, provided it can rally more than 400% from the current level of $0.0000199. However, can SHIB rally 400% in 2024? No. It is unlikely for Shiba Inu to surge that high due to the competitive landscape of dog and cat-themed cryptocurrencies. 

Can Shiba Inu (SHIB) Drop a Zero From its Price in 2024?

In 2021, Shiba Inu surged 2,140% in just 50 days, allowing it to drop a zero as the SHIB price went from $0.000004 to $0.000089. During this phase of the bull market, although there were many dog-themed cryptocurrencies, SHIB stood out due to its marketing efforts and bull market optimism. 

A lot has changed since 2021. The crypto investor mindset has shifted and there are plenty of opportunities to invest in these days. In addition to dog-themed crypto, there are frog and cat-themed crypto. The 2024 US presidential elections have also birthed a different breed of cryptos to focus on. As a result, the liquidity is fragmented. Hence, the chances of Shiba Inu dropping zero from its price in 2024 are slim. 

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Although the fourth quarter is bullish for cryptocurrencies in general, it is unlikely that SHIB’s price has the capacity to rally high enough to drop to zero.