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<a href="https://bitcoinist.com/shiba-inu-price-100-0-0001/" rel="nofollow">Crypto analyst Oscar Ramos</a> has outlined why he doesn’t believe the Shiba Inu price can go above $0.01 this cycle. He made this statement while alluding to the possibility of the <a href="https://bitcoinist.com/shiba-inu-bullish-pennant/" rel="nofollow">meme coin</a> reaching $0.5 at some point in the future.&nbsp; 
<h2 id="why-shiba-inu-can-t-go-above-0-01">Why Shiba Inu Can’t Go Above $0.01</h2> 
Ramos mentioned in an X (formerly Twitter) <a href="https://x.com/realOscarRamos1/status/1792375285830025712" rel="nofollow">post</a> that Shiba Inu can’t go above $0.01 because of its current supply of over 589 trillion, according to <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="nofollow">data</a> from CoinMarketCap. The crypto analyst made this remark while sharing a prediction chart from the <a href="https://www.newsbtc.com/news/cardano/when-cardano-price-reach-45/">price prediction website Telegaon</a>, which showed that Shiba Inu could reach $0.5 in 2040. 
<img loading="lazy" decoding="async" class="wp-image-609291 size-medium" src="https://www.newsbtc.com/wp-content/uploads/2024/05/Shiba-Inu-1.png?w=460&amp;resize=460%2C372" alt="Shiba Inu" width="460" height="372" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/Shiba-Inu-1.png?w=512 512w, https://www.newsbtc.com/wp-content/uploads/2024/05/Shiba-Inu-1.png?w=460&amp;resize=460%2C372 460w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
&nbsp; 
Indeed, Shiba Inu’s circulating supply significantly impacts its price, which is why the <a href="https://bitcoinist.com/shiba-inu-message-exchanges/" rel="nofollow">Shiba Inu team</a> has made a conscious effort to reduce the amount of SHIB tokens in circulation through regular <a href="https://bitcoinist.com/shiba-inu-burns-bright-shib/" rel="nofollow">token burns</a>. <a href="https://shiba-burn-tracker.com/shiba-inu-statistics" rel="nofollow">Shiba Inu’s burn tracker</a> had previously noted that Shiba Inu’s circulating supply would need to be just over 85 billion for its price to even reach $0.01, as Ramos predicts.&nbsp;&nbsp; 
That means almost 80% of Shiba Inu’s circulating supply still needs to be burned for the meme coin to attain Ramos’ price target. Crypto YouTuber Jeff had <a href="https://bitcoinist.com/shiba-inu-will-take-years-burn-supply-100-billion/" rel="nofollow">previously suggested</a> that it was almost impossible for Shiba Inu to burn that much of its circulating supply, <a href="https://bitcoinist.com/shiba-inu-will-take-years-burn-supply-100-billion/" rel="nofollow">stating</a> that it would take over 1 million years for Shiba Inu’s circulating supply to reduce to 100 billion tokens.&nbsp; 
However, there is no doubt that the Shiba Inu team has still made great efforts to reduce the meme coin’s circulating supply. Over 76 billion SHIB tokens <a href="https://bitcoinist.com/shiba-inu-burns-bright-shib/" rel="nofollow">were burned</a> in 2023, while 83 billion were burned the previous year. Seeing how Shiba Inu’s price has increased since last year, these efforts are paying off.&nbsp; 
While burning 80% of Shiba Inu’s circulating supply still seems like a far-fetched goal, <a href="https://bitcoinist.com/shiba-inu-burns-bright-shib/" rel="nofollow">SHIB token burns</a> are expected to increase exponentially, especially thanks to innovations like layer-2 network Shibarium, which uses some of the transaction fees earned for SHIB burns. Therefore, the number of token burns carried out will increase as <a href="https://bitcoinist.com/shiba-inu-shibarium-crashes/" rel="nofollow">Shibarium enjoys more adoption</a>.&nbsp; 
<h2 id="shib-can-at-least-rise-to-0-011">SHIB Can At Least Rise To $0.011</h2> 
Crypto analyst Ali Martinez had <a href="https://bitcoinist.com/122000-surge-shiba-inu-price/" rel="nofollow">previously predicted</a> that Shiba Inu could make a historic run from its current price level and rise to as high as $0.011. Other crypto analysts have also given bullish price predictions for Shiba Inu, although not as bullish as Martinez’s.&nbsp; 
Crypto analyst Armando Pantoja <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-price-5000-0-001/#:~:text=Pantoja%20predicted%20in%20an%20X,considering%20SHIB's%20current%20price%20level.">predicted</a> that Shiba Inu could reach $0.001 and even claimed this would happen after the <a href="https://bitcoinist.com/bitcoin-bull-market-glassnode/" rel="nofollow">Bitcoin halving</a>. Ramos has also given his bullish prediction for SHIB in <a href="https://bitcoinist.com/bitcoin-bull-market-glassnode/" rel="nofollow">this bull run</a>, as he <a href="https://bitcoinist.com/shiba-inu-price-100-0-0001/#:~:text=To%20Fight%20Back-,Crypto%20Analyst%20Says%20Shiba%20Inu%20Price%20Is,Going%20To%20%240.0001%2C%20Here's%20Why&amp;text=A%20crypto%20analyst%20has%20made,price%20experiences%20this%20exponential%20growth." rel="nofollow">predicts</a> that the meme coin can shed another zero from its current price and rise to $0.0001.&nbsp; 
At the time of writing, Shiba Inu is trading at around $0.00002603, up over 2% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="nofollow">data</a> from CoinMarketCap. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/sRMaCXHn/" alt="Shiba Inu price chart from Tradingview.com" width="3286" height="1576">

Shiba Inu Price Can’t Reach $0.01, Crypto Pundit Reveals Why

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