Shiba Inu (SHIB) is struggling to hold the $0.000006 level after a year-long downtrend. Analysts project a very long timeline for the meme coin to reach the $0.011 mark, with predictions ranging from after 2050 to significantly lower price targets by that year. The primary obstacle is SHIB’s massive circulating supply of 589 trillion tokens.
Shiba Inu continues to face significant price pressure, currently struggling to maintain a level of $0.000006. The asset has been on a downward trajectory for more than a year, dimming hopes for a rapid ascent.
A key barrier to Shiba Inu reaching a price of $0.011 is its enormous circulating supply of approximately 589 trillion coins. At that price point, the project’s market capitalization would reach an unrealistic figure in the hundreds of trillions of dollars.
According to Telegaon analysts, Shiba Inu will hit the $0.011 mark sometime after 2050. This projection suggests a journey of more than 24 years from the present.
Changelly analysts offer an even more conservative forecast for the token. Their prediction anticipates a maximum price of only $0.0000355 by the year 2050, which remains below SHIB’s all-time high.
Lead developer Shytoshi Kusama has stated that burns alone will not push the asset’s price. The Shiba Inu team argues that massive adoption alongside token burns is necessary for substantial price appreciation.
The team has launched the Shibarium network to increase utility and is developing the ShibOS platform to aid business transition to Web3. Shiba Inu is also reportedly working on a stablecoin, developments the team believes could accelerate growth.
