Shiba Inu will hit .01cents when
11/8/2024 03:29am
**The likelihood of Shiba Inu (SHIB) hitting 0.01 cents is remote, based on current price trends and market conditions.** Here's why:
1. **Current Price and Market Sentiment**: As of the latest data, SHIB's closing price was $0.0000199, which is far from the 0.01 cents mark. The token has experienced a significant price increase, rising by 17.82% to reach a multi-month high of $0.0000199. This bullish momentum is a recent development, with SHIB facing a major test as it approaches the 11.5 trillion SHIB roadblock.
2. **Market Dynamics and Volume**: The trading volume for SHIB is substantial, with 755.21 million USD traded in the last 24 hours. This high liquidity could indicate significant buying or selling pressure, but it does not necessarily predict a price drop to 0.01 cents.
3. **Bullish Indicators**: SHIB is experiencing a bullish trend with a golden cross approaching, and there is a significant accumulation by large holders, indicating bullish sentiment. The burn rate of SHIB has increased by 3,674%, which could be seen as a deflationary tactic that could raise SHIB's value.
4. **Dogecoin and Shiba Inu Price Surge Factors**: The price surge of both Dogecoin and Shiba Inu is attributed to broader crypto market dynamics and American election developments. The influence of Bitcoin's price and the actions of large holders (whales) are also factors.
5. **Predictions and Analysis**: While some predictions suggest that SHIB could have a substantial upside, the claim of turning a $1,000 investment into millions with SHIB in 2020 is highly speculative. The current market conditions and price levels do not support such a dramatic price drop.
In conclusion, the current price trajectory and market indicators for Shiba Inu do not support the notion that it will hit 0.01 cents in the near future. The token is experiencing a bullish period with significant price appreciation, high trading volume, and bullish technical indicators.