Shiba

2024

Bitcoin

Shiba Inu

<div class="finbold">
 <p class="paragraph">The start of 2024 has been particularly volatile for the cryptocurrency market as its flagship crypto, Bitcoin (BTC), experienced notable price fluctuations, leading to it surpassing the $52,000 threshold.</p>
 <p class="paragraph">As the market shifts, so does one of the most popular meme coins, Shiba Inu (SHIB). The previous month has been particularly fruitful, as it brought gains that have led to SHIB testing the crucial resistance zone set at $0.000001.</p>
 <p class="paragraph">The question, however, is whether SHIB can achieve a significant surge in price and <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a> the valuation of $0.50, and if so, when.</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picked for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    How everyday investors are outsmarting Wall Street <span class="self-center text-xs text-slate-500">23 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    What OnlyFans top earners are doing with their income <span class="self-center text-xs text-slate-500">25 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bitget token hits new all-time high near $1 <span class="self-center text-xs text-slate-500">32 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Unmasking the 'Top G': Andrew Tate's net worth revealed <span class="self-center text-xs text-slate-500">1 hour ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <h2 class="wp-block-heading" id="h-price-predictions-by-ai-algorithms">Price predictions by AI algorithms</h2>
 <p class="paragraph">To gain insights into the future price movements of SHIB and whether it can <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a> the half-dollar mark, Finbold utilized machine learning algorithms to predict this meme coin.</p>
 <p class="paragraph">Looking at the furthest possible price prediction reveals that even by 2050, SHIB won’t come close to threading near the one-cent mark.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="918" height="427" src="https://cdn.thebittimes.com/images/2024/02/19/25d61b39a3146595c937442b098c0a9a.webp" alt="SHIB price prediction. Source: CoinCodex
" class="wp-image-155871" srcset="https://cdn.thebittimes.com/images/2024/02/19/25d61b39a3146595c937442b098c0a9a.webp 918w, https://cdn.thebittimes.com/images/2024/02/19/25d61b39a3146595c937442b098c0a9a.webp 300w, https://cdn.thebittimes.com/images/2024/02/19/25d61b39a3146595c937442b098c0a9a.webp 768w" sizes="(max-width: 918px) 100vw, 918px">
  <figcaption class="wp-element-caption">
   SHIB price prediction. Source: CoinCodex
  </figcaption>
 </figure>
 <p class="paragraph">However, algorithms predict exponential growth, which sees the token erasing zeros and <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a>ing a $0.000401 valuation, an almost 4,000% increase from the current levels.</p>
 <h2 class="wp-block-heading" id="conditions-that-could-drive-the-price-surge">Conditions that could drive the price surge</h2>
 <p class="paragraph">To <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a> the full potential of its price, the token needs significant backing from investors and less supply than demand, which would drive its price further.</p>
 <p class="paragraph">As of the current writing, Shiba Inu boasts a circulating supply of 589.289 trillion SHIB. This signifies a deflation in the supply of 410.66 trillion SHIB (41%) since May 2021 and 72.66 trillion SHIB (11%) since October 2021.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="402" height="132" src="https://cdn.thebittimes.com/images/2024/02/19/84cc0d79c7a02b2a2b6150c8a4da0cf0.webp" alt="SHIB market cap. Source: CoinMarketCap
" class="wp-image-155872" srcset="https://cdn.thebittimes.com/images/2024/02/19/84cc0d79c7a02b2a2b6150c8a4da0cf0.webp 402w, https://cdn.thebittimes.com/images/2024/02/19/84cc0d79c7a02b2a2b6150c8a4da0cf0.webp 300w" sizes="(max-width: 402px) 100vw, 402px">
  <figcaption class="wp-element-caption">
   SHIB market cap. Source: CoinMarketCap
  </figcaption>
 </figure>
 <p class="paragraph">For Shiba Inuto to <a rel="noopener noreferrer nofollow" title="reach" href="https://thebittimes.com/tag/reach.html">reach</a> a price of $0.50, it would require a substantial increase in its market capitalization.&nbsp;</p>
 <p class="paragraph">Currently priced at $0.000009796 with a circulating supply of 589,289,855,579,434 SHIB and a fully diluted market cap of $5.79 billion, achieving a price of $0.50 would necessitate a significant surge in market value of approximately $294.64 trillion in market capitalization. An outstanding figure, especially when considering the United States of America had a GDP of a little over $20 trillion in 2021.</p>
 <h2 class="wp-block-heading" id="shib-token-supply-dynamics">SHIB token supply dynamics</h2>
 <p class="paragraph">An increase in market cap should align with investor demand and confidence in the token’s future potential, driving its price upwards. However, such a drastic price increase would require considerable market activity. It may be influenced by factors such as investor sentiment, market trends, and token adoption in various applications.</p>
 <p class="paragraph">To counter the inflationary economics of this token, the development team has instituted regular burns to remove tokens from the circulating supply permanently.</p>
 <p class="paragraph">The SHIB burn rate has surged dramatically by an astonishing 3,400%, permanently removing over 52 million SHIB tokens from circulation. This aggressive deflationary strategy has eliminated 410,708,459,364,680 SHIB from the initial supply, indicating a substantial change in the asset’s scarcity and potential value.&nbsp;</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="319" height="318" src="https://cdn.thebittimes.com/images/2024/02/19/6875769e0758aa3038dc0bc80865df3a.webp" alt="SHIB burn amount. Source: Shibburn
" class="wp-image-155874" srcset="https://cdn.thebittimes.com/images/2024/02/19/6875769e0758aa3038dc0bc80865df3a.webp 319w, https://cdn.thebittimes.com/images/2024/02/19/6875769e0758aa3038dc0bc80865df3a.webp 300w, https://cdn.thebittimes.com/images/2024/02/19/6875769e0758aa3038dc0bc80865df3a.webp 150w" sizes="(max-width: 319px) 100vw, 319px">
  <figcaption class="wp-element-caption">
   SHIB burn amount. Source: Shibburn
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="shib-price-analysis">SHIB price analysis</h2>
 <p class="paragraph">The present tells a story of gains, as SHIB was trading at $0.000009794 after an increase of 0.17% in the 24-hour timespan and 5.75% over the past week.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2024/02/19/ea53b94c7f92ed5f343b196d9e5e8da6.webp" alt="SHIB 30-days price chart. Source: Finbold" class="wp-image-155883" srcset="https://cdn.thebittimes.com/images/2024/02/19/ea53b94c7f92ed5f343b196d9e5e8da6.webp 1024w, https://cdn.thebittimes.com/images/2024/02/19/ea53b94c7f92ed5f343b196d9e5e8da6.webp 300w, https://cdn.thebittimes.com/images/2024/02/19/ea53b94c7f92ed5f343b196d9e5e8da6.webp 768w, https://cdn.thebittimes.com/images/2024/02/19/ea53b94c7f92ed5f343b196d9e5e8da6.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   SHIB 30-days price chart. Source: Finbold
  </figcaption>
 </figure>
 <p class="paragraph">In the past 30 days, this crypto added 3.88% to its value.</p>
 <p class="paragraph">This digital asset trades above its 200-day moving average, showing a positive trend. However, it has experienced a -26% decline over the past year and is now at -89% below its all-time high.</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>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/will-shiba-inu-coin-reach-50-cents-tbt80205.html">https://thebittimes.com/will-shiba-inu-coin-reach-50-cents-tbt80205.html</a></p>

Will Shiba Inu coin reach 50 cents?

Table of Contents

TheBitTimes

Other articles published on Feb 19, 2024

BIG Airdrops Coming: Top 5 Hottest Airdrops Around Right Now

Here's Next Key Deadline in Ripple v. SEC Case, Bloomberg Expert Doubts Ethereum ETF Launch in Ma...

‘Rich Dad’ R. Kiyosaki predicts Bitcoin to $100k by June 2024

Bitcoin’s Rally Ignites Altcoin and Exchange Token Market

Vitalik Buterin Explores Crypto and AI Intersection Ahead of Dencun Upgrade

This Blockchain Gaming Platform Will Release a 20 Million Token Airdrop

Join our free newsletter for daily crypto updates!