Shiba Inu (SHIB) Drops 20.43% in 30 Days, Investors Debate Future

Shiba Inu (SHIB) has recently experienced a significant price decrease, with a 20.43% loss over the past 30 days. This decline has led to a mix of frustration and opportunity for investors. At the time of reporting, SHIB was trading at $0.00001174, marking an 11.99% decrease over the previous week. The price drop has sparked a debate among investors, with some expressing disappointment and fear of further losses, while others see it as a strategic entry point to accumulate more SHIB.

The current price of SHIB means that 100 million tokens can be purchased for approximately $1,174. If SHIB were to reach the $0.001 mark, the value of these tokens would surge to $100,000. This potential 8,300% increase in price would push SHIB's market capitalization to around $589.25 billion, assuming no change in the circulating supply. This scenario has drawn significant interest, with almost 71,510 addresses currently holding at least 100 million SHIB tokens, collectively valued at approximately $213.3 million.

The path to reaching $0.001 is fraught with challenges, requiring an 8,300% surge from its current price. Market observers have differing views on the feasibility of this target. Crypto Sheriff, for instance, identified a technical breakout in October 2024 as a potential indicator of future upside, with immediate targets of $0.00002 and $0.0002, and a long-term target of $0.001. LuckSide Crypto has also cited increasing interest among large holders and the absence of serious resistance as potential catalysts for a future rally. Platform-based long-term projections suggest that SHIB might reach the price of up to $0.001 around 2035-2039.

Despite the recent selloffs, some investors remain optimistic about SHIB's potential. The ongoing downturn is seen by many as an opportunity to expand their portfolios, with the belief that the token's value could rise significantly in the long term. However, the route to a price of $0.001 is not straightforward, and opinions are divided among investors and observers. The debate continues, with some expressing skepticism and others remaining hopeful about SHIB's future prospects.