Shiba

Cryptocurrency

Shiba Inu

Avalanche

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 <p class="paragraph">As 2023 approaches its conclusion, certain assets within the cryptocurrency market continue to witness price growth, while others are experiencing a deceleration in their gains compared to previous weeks.</p>
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 <p class="paragraph">Shiba Inu (SHIB) is among those exhibiting a slowdown, prompting investors to contemplate whether it will achieve a rally to the desired psychological level of $0.01 in 2024.</p>
 <p class="paragraph">Shiba Inu initiated a positive price trend in late November, consistently ascending from $0.000008193 to the significant threshold of $0.00001000. It <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a>ed this level multiple times in December and consolidated at $0.00001068 as of December 28.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/12/28/a192f7b7f2804a1fb5c47e00622d8dd0.webp" alt="SHIB 30-day price chart. Source: Finbold
" class="wp-image-145968" srcset="https://cdn.thebittimes.com/images/2023/12/28/a192f7b7f2804a1fb5c47e00622d8dd0.webp 1024w, https://cdn.thebittimes.com/images/2023/12/28/a192f7b7f2804a1fb5c47e00622d8dd0.webp 300w, https://cdn.thebittimes.com/images/2023/12/28/a192f7b7f2804a1fb5c47e00622d8dd0.webp 768w, https://cdn.thebittimes.com/images/2023/12/28/a192f7b7f2804a1fb5c47e00622d8dd0.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   SHIB 30-day price chart. Source: Finbold
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 </figure>
 <h2 class="wp-block-heading" id="h-can-shib-reach-0-01-in-2024">Can SHIB reach $0.01 in 2024?</h2>
 <p class="paragraph">For this to happen, SHIB would need to surpass its all-time high price of $0.00007924, which it <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a>ed in October 2021, and for it to <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a> $0.01, an increase of a staggering 93,533% is required, a figure that may seem impossible to many, but market trends teach us that anything is possible.</p>
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 <p class="paragraph">Many investors think that Vitalik Buterin’s burn drove the previous rally, but it is important to note that he did not burn $1.7 billion in SHIB in May 2021 to influence its price then. The mentioned amount was allocated to him when the token was initially deployed. The subsequent transfer of 90% of this allocation from one wallet to another (the burn address) months later does not directly impact the token’s price.</p>
 <p class="paragraph">The notable surge in price observed in May 2021 can be attributed to heightened demand as more individuals discovered and invested in this token.&nbsp;</p>
 <p class="paragraph">Notably, approximately half of the token’s supply was already held by Vitalik Buterin, which may have contributed to the significant increase in the token’s value, climbing 46,000,000% since its launch. Importantly, SHIB has sustained a fivefold increase since May 6, 2021, as per a post from the burn tracker of this crypto, <em>Shibburn</em>, on X on September 6.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="722" src="https://cdn.thebittimes.com/images/2023/12/28/b87d23cba3626c2ce1f88722e44be7e9.webp" alt="SHIB price chart since its previous rally. Source: Shibburn
" class="wp-image-145969" srcset="https://cdn.thebittimes.com/images/2023/12/28/b87d23cba3626c2ce1f88722e44be7e9.webp 1024w, https://cdn.thebittimes.com/images/2023/12/28/b87d23cba3626c2ce1f88722e44be7e9.webp 300w, https://cdn.thebittimes.com/images/2023/12/28/b87d23cba3626c2ce1f88722e44be7e9.webp 768w, https://cdn.thebittimes.com/images/2023/12/28/b87d23cba3626c2ce1f88722e44be7e9.webp 1536w, https://cdn.thebittimes.com/images/2023/12/28/b87d23cba3626c2ce1f88722e44be7e9.webp 1720w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   SHIB price chart since its previous rally. Source: Shibburn
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 </figure>
 <p class="paragraph">Considering the SHIB circulating supply on November 24, Shiba Inu would have <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a>ed a value of $0.000424 per token at its peak market capitalization. Notably, this marks an increase of $0.000175 (70%) from the earlier price of $0.000249 in 2021. Achieving its previous all-time high would necessitate increased investment in the token, let alone <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a>ing the $0.01 benchmark.</p>
 <p class="paragraph">However, investors’ trust seems to be decreasing. As of November, a significant withdrawal has been observed, totaling over 8 trillion Shiba Inu tokens (SHIB) from recognized cryptocurrency exchange wallets. This substantial withdrawal represents an estimated valuation of approximately $88 million, per a post from crypto analyst Ali Martinez on December 24.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://cdn.thebittimes.com/images/2023/12/28/ec95605c7ea82cf91bcba8535f2c5e4a.webp" alt="Decrease of SHIB balance on exchanges. Source: Ali Martinez
" class="wp-image-145970" srcset="https://cdn.thebittimes.com/images/2023/12/28/ec95605c7ea82cf91bcba8535f2c5e4a.webp 1024w, https://cdn.thebittimes.com/images/2023/12/28/ec95605c7ea82cf91bcba8535f2c5e4a.webp 300w, https://cdn.thebittimes.com/images/2023/12/28/ec95605c7ea82cf91bcba8535f2c5e4a.webp 768w, https://cdn.thebittimes.com/images/2023/12/28/ec95605c7ea82cf91bcba8535f2c5e4a.webp 1199w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Decrease of SHIB balance on exchanges. Source: Ali Martinez
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 </figure>
 <h2 class="wp-block-heading" id="shiba-inu-price-analysis-and-prediction">Shiba Inu price analysis and prediction</h2>
 <p class="paragraph">the artificial intelligence (AI) algorithms utilized by the cryptocurrency analytics platform <em>CoinCodex</em> do not anticipate Shiba Inu <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a>ing $0.01 in the foreseeable future. These predictions extend to 2050, with the furthest projection indicating a price of $0.000418 for SHIB, which falls short even at that distant time.</p>
 <figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="928" height="445" src="https://cdn.thebittimes.com/images/2023/12/28/c1f87637cc80986bb74a9f87298dab14.webp" alt="Shiba Inu price prediction until 2050. Source: CoinCodex
" class="wp-image-145971" srcset="https://cdn.thebittimes.com/images/2023/12/28/c1f87637cc80986bb74a9f87298dab14.webp 928w, https://cdn.thebittimes.com/images/2023/12/28/c1f87637cc80986bb74a9f87298dab14.webp 300w, https://cdn.thebittimes.com/images/2023/12/28/c1f87637cc80986bb74a9f87298dab14.webp 768w" sizes="(max-width: 928px) 100vw, 928px">
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   Shiba Inu price prediction until 2050. Source: CoinCodex
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 </figure>
 <p class="paragraph">Meanwhile, SHIB was at press time changing hands at the price of $0.00001058, down 0.76% on the day, while holding onto the 2.47% increase across the week and a 29.85% advance on its monthly chart, according to the most recent information retrieved on December 28.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/12/28/27261f231940c49c397a33cf319bda7e.webp" alt="SHIB 7-day price chart. Source: Finbold
" class="wp-image-145972" srcset="https://cdn.thebittimes.com/images/2023/12/28/27261f231940c49c397a33cf319bda7e.webp 1024w, https://cdn.thebittimes.com/images/2023/12/28/27261f231940c49c397a33cf319bda7e.webp 300w, https://cdn.thebittimes.com/images/2023/12/28/27261f231940c49c397a33cf319bda7e.webp 768w, https://cdn.thebittimes.com/images/2023/12/28/27261f231940c49c397a33cf319bda7e.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   SHIB 7-day price chart. Source: Finbold
  </figcaption>
 </figure>
 <p class="paragraph">As many indicators tell the story of SHIB not moving near the 1 cent threshold anytime soon, it is important to remember that the market environment is volatile and forever changing. Developments might bring a positive push for the price of this meme coin.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk</em>.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/will-shib-reach-1-cent-in-2024-tbt75026.html">https://thebittimes.com/will-shib-reach-1-cent-in-2024-tbt75026.html</a></p>

Will SHIB reach 1 cent in 2024?

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