X Empire Cheater ya Airdroper? | Sahir Rahman on Binance Square

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X Empire Cheater ya Airdroper?

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Can Shiba Inu Price Reach $1 If It Mirrors Its 2021 Rally? Shiba Inu price faces challenges in reaching $1, due to massive supply, emerging meme-coin competition, and a maturing crypto market Highlights The Shiba Inu price eyes a bullish reversal from $0.0000123 bottom support. A massive circulating supply of hundreds of trillions of SHIB makes the $1 target unlikely due to the scarcity principle. Emerging meme cryptocurrencies could drive the inventors' interest away from Shiba Inu coin. The Shiba Inu price traded sideways for nearly two months, resonating between $0.000016 and $0.0000123 horizontal levels. This consolidation after a seven-month downtrend signals a change in market sentiment and potential bottom formation. As Quater 4 brings a recovery opportunity for SHIB coin, the investor would wonder if this asset could drive a 2021 rally and push for a $1 target. If SHIB Rallied Like in 2021, Will Shiba Inu Price Hit $1 in 2024? In 2021, the Shiba Inu price saw an extraordinary surge of 45000% between January and May. After a notable correction, the coin price offered another 1500% jump to mark an all-time high of $0.00008845 in October. While a 2021-like rally could provide explosive profits to SHIB holders, hitting the $1 target seems virtually impossible. Here’s why: Massive Circulating Supply: Despite ongoing efforts to burn tokens, there are still hundreds of trillions of SHIB in circulation. To reach the $1 target, the Shiba inu market cap needs to grow exponentially, even surpassing Bitcoin and Ethereum combined— an unrealistic scenario given the currency market condition. Previous Rally Context: In 2021, the SHIB price rally was driven by a perfect storm of social media hype, meme culture, and an influx of retail investors. While these factors could drive the notable rally, the market may not offer a rally of similar magnitude, given the alternative investment options.

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