Analytics Firm Projects When Shiba Inu Can Hit $0.0001

Amid sustained attempts from Shiba Inu to reclaim its previous highs, notable crypto analytics firm Telegaon recently predicted a timeline within which the asset will attain $0.0001.

To hit $0.0001, Shiba Inu would need to recover and tower above its current all-time high at $0.00008845. Shiba Inu hit this ATH value in October 2021 but has failed to reclaim it since dropping below the price in an elaborate multi-year correction.

Shiba Inu is 91.5% down from the all-time high, having retraced nearly all the gains of 2021. However, market participants hope for a recovery, albeit uncertain of the time required. Amid this sustained confidence, Telegaon made several projections.

Shiba Inu Price Projections

In one of its latest reports, the analytical platform delved into Shiba Inu’s historical data, including its origin and appeal to investors. The platform highlighted SHIB’s astronomical rally in 2021 and the subsequent price decline.

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Projecting a timeline for an imminent recovery, Telegaon asserted that Shiba Inu could hit the $0.0001 target in 2027. This would translate to a 1,231% increase in Shiba Inu’s value within four years. While this seems ambitious, Telegaon’s projections are loftier.

The platform doesn’t just predict that SHIB will reclaim $0.0001 in 2027. It forecasts that the asset would trade at an average price of $0.000153 that year. According to Telegaon, Shiba Inu’s minimum price for 2027 would stand at $0.0000945, with a maximum price of $0.000198.

Besides the $0.0001 prediction, the firm made several projections for SHIB’s performance until 2050. The projections show a trend of greater heights for Shiba Inu as the years progress. Notably, Telegaon forecasts that Shiba Inu will hit $1 in 2050.

Analyzing the Feasibility

Despite its prominence, Telegaon’s projections should not represent investment advice to market participants. This is because, while it is possible, it is improbable for Shiba Inu to capture these price targets at the predicted timeframes.

However, it remains to be seen how well the asset will fare as the years progress. The community has welcomed projects like Shibarium to help transform the ecosystem. Nonetheless, these projects do not represent price-pumping initiatives but avenues to bolster demand and utility.

Shiba Inu is trading for $0.00000751, up 3.16% over the past 24 hours. The asset has struggled to retain its position above $0.000008, with constant displacements from the bears. SHIB is down 7% this year.

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• Source: https://thecryptobasic.com/2023/09/23/analytics-firm-projects-when-shiba-inu-can-hit-0-0001/?utm_source=rss&utm_medium=rss&utm_campaign=analytics-firm-projects-when-shiba-inu-can-hit-0-0001