Shiba Inu: 5-cent dream – Can Shibarium ignite the spark?

Shiba Inu, much like its rival Dogecoin, remains one of the best-performing meme tokens. The coin has garnered a much more dedicated user base due to its ventures like Shibarium.

However, the coin has been going through a slump for a while now. Despite the crypto industry gaining momentum, SHIB has failed to capitalize on it. Currently, Shiba Inu is trading at 0.000009638 dollars, marking a 0.12% daily dip.

The token has lost over 11% of its value in the past month, a concerning figure given the positive crypto market standing. Under the current market performance, Shiba Inu has to undergo a whopping 562,003% surge to reach the 5-cent mark.

Although the growth seems improbable at first glance, it is worth noting that SHIB has surged 721452.42% in price since its launch in August 2020. The token went as high as 0.0000884 dollars within a year of its launch.

Thus, there is a bright hope for the future of Shiba Inu among crypto traders. Experts believe that Shiba Inu will reclaim its all-time high at the end of 2024. At this rate, the coin is expected to reach the 1-dollar mark by 2050. Thus, the 5-cent mark becomes a possibility for SHIB by 2040. 

While there is ever-lingering optimism and speculation surrounding Shiba Inu, the coin must undergo several hurdles before becoming a reliable investment option. Here are some of the factors it must consider and conquer for that:

  • The real-world use cases for a coin determine how much Shiba Inu will fluctuate in its adoption rate.
  • SHIB should also maintain a decent burn rate to create scarcity among token holders.
  • Projects like Shibarium will be pivotal in helping Shiba Inu gain better market status.

If the Shiba Inu community manages to overcome these challenges, the coin might reach the 1-dollar mark much quicker.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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