Ethereum

Shiba Inu

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 <p>Shiba Inu’s (SHIB) price has struggled to gain momentum in 2023, despite the project launching its highly anticipated layer-2 network, Shibarium. Many expected SHIB to burst into a rally and delete a few zeros, but that did not happen. Instead, SHIB has been on a downward trajectory for most of the year. Moreover, a report by Telegaon suggested that it will take decades for SHIB to delete all its zeros and reach $1.</p> 
 <p><strong>Also Read: Shiba Inu: These Investors Earned Billions, Here’s What Happened</strong></p> 
 <p>As per the report, Shiba Inu (SHIB) could reach a maximum price of $0.0000316 in 2023. By 2027, the token could delete two additional zeros and achieve a maximum price of around $0.000198. However, the report mentioned that it would take another 13 years for SHIB to delete two more zeros. The report predicted that SHIB will attain a price of $0.076 by 2040. And lastly, SHIB could attain its $1 goal sometime in 2050, 27 years from now.</p> 
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 <h3 class="wp-block-heading" id="h-how-will-shiba-inu-reach-the-1-level">How will Shiba Inu reach the $1 level?</h3> 
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  <img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/09/25/97657746b4721df1478dd81d2c52c42b.webp" alt="Shiba Inu" class="wp-image-109940" srcset="https://cdn.thebittimes.com/images/2023/09/25/97657746b4721df1478dd81d2c52c42b.webp 1024w, https://cdn.thebittimes.com/images/2023/09/25/97657746b4721df1478dd81d2c52c42b.webp 300w, https://cdn.thebittimes.com/images/2023/09/25/97657746b4721df1478dd81d2c52c42b.webp 768w, https://cdn.thebittimes.com/images/2023/09/25/97657746b4721df1478dd81d2c52c42b.webp 380w, https://cdn.thebittimes.com/images/2023/09/25/97657746b4721df1478dd81d2c52c42b.webp 550w, https://cdn.thebittimes.com/images/2023/09/25/97657746b4721df1478dd81d2c52c42b.webp 800w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: news.bitcoin.com
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 <p>The Telegaon report suggested that the Shiba Inu (SHIB) team could burn half the current supply before 2040. This would be a similar move to how Ethereum (ETH) co-founder Vitalik Buterin burned almost half the initial supply in 2021. Buterin’s move played a big hand in SHIB’s initial price spike.</p> 
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 <p>Now, how the team will burn half the current supply remains to be answered. The team has said that they are working on a new burn mechanism that is rumored to burn trillions of tokens every year. Such a mechanism could potentially burn a significant number of tokens in a short amount of time.</p> 
 <p>However, as pointed out by SHIB lead developer Shytoshi Kusama, burns alone will not push up prices. Burns have to be accompanied by an increase in demand. A reduction in supply and an increase in demand are what will help SHIB attain its price goals. At press time, SHIB was trading at $0.00000733, down by 1% in the last 24 hours.</p> 
 <p><strong>Also Read: Shiba Inu: If You Invested $100 Upon Launch, Here’s Your Profit</strong></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/shiba-inu-here-s-how-long-shib-will-take-to-reach-1-tbt63873.html">https://thebittimes.com/shiba-inu-here-s-how-long-shib-will-take-to-reach-1-tbt63873.html</a></p>

Shiba Inu: Here's How Long SHIB Will Take to Reach $1

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