The cryptocurrency market seems to have turned the tide over the last few weeks. Bitcoin (BTC) reclaiming the $61k level has pushed the market into another bull run. Shiba Inu (SHIB) has also entered the greens, all thanks to BTC’s price spike. SHIB is currently up 23.2% in the daily charts, 41.4% in the weekly charts, 36.3% in the 14-day charts, and 43.5% over the previous month. Moreover, SHIB is finally green in the yearly charts, up 6.8% since late February 2023.
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SHIB will likely continue its bullish trajectory. However, SHIB fans and investors await the token to hit a new all-time high or delete a few more zeros from its price.
When will Shiba Inu (SHIB) reach $0.0005?
Reaching $0.0005 from current levels would translate to a growth of 3659%. Although the figure may seem significant, it is not something the project has not achieved before.
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According to Changelly, SHIB could hit a maximum price of $0.0004539546 by 2033. The platform anticipates SHIB to reach $0.0005 sometime between 2033 and 2040.
Telegaon paints a more bullish picture for Shiba Inu (SHIB). The platform predicts SHIB to breach the $0.0005 level by 2029, reaching a maximum price of $0.000588 for the year.
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One of the most significant barriers to SHIB’s price is its massive supply. However, the SHIB team is reportedly working on a new burn mechanism, rumored to burn trillions of tokens yearly. If the team drastically reduces SHIB’s supply, we may reach the $0.0005 target much sooner than anticipated. The new burn mechanism and a bull market could take the asset to new heights.
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