$SHIB - Analysis š
Shiba Inu (SHIB) has garnered attention for transforming early investors into millionaires and even billionaires. However, its price has plummeted since its peak in October 2021. While some believe it's too late to invest, others see potential for significant gains.
Changelly forecasts SHIB won't reach $0.0001 until 2029, with a maximum price projection of $0.0001069893. Conversely, Telegaon predicts SHIB will hit $0.0001 by 2027, with a maximum price of $0.000198, significantly sooner.
SHIB's massive token supply, totaling 589 trillion, poses a major hurdle. Achieving a $0.0001 price would inflate its market cap to $58.9 billion, signaling a tenfold increase. However, aiming for $0.01 seems unfeasible due to the trillion-dollar market cap threshold, highlighting the need to reduce supply.
Vitalik Buterin's token burn in 2021 catalyzed SHIB's rally by slashing its supply. The SHIB team is reportedly developing a new burn mechanism, potentially accelerating its path to a new all-time high.
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