As Shiba Inu embarks on a relief rally, multiple entities have issued updated timelines for SHIB’s potential surge to $0.000646 and $0.62.
The recent relief rally across the broader crypto market has presented an opportunity for Shiba Inu to recover some losses it incurred in the past weeks.
SHIB is currently trades at $0.00002505, up 2.6% in the past 24 hours. This also represents an 11.3% surge in the weekly charts and a 1.2% increase over the past 14 days. Similarly, the recent development suggests that Shiba Inu’s price has risen 12.2% in the last month.
Following Shiba Inu’s recent rally, top prediction platforms have modified the timelines for the asset’s potential surge towards audacious price targets like $0.000646 and $0.62.
Shiba Inu to $0.000646
Reaching the $0.000646 price level may seem like a daunting task for Shiba Inu, considering that SHIB is expected to rally 2,478% from its current price.
Nonetheless, prominent crypto prediction platform Telegaon suggests that Shiba Inu could hit the target by 2030. Telegaon sets the $0.000646 target as the average price for Shiba Inu in 2030.
Meanwhile, analysts from popular crypto trading platform Changelly do not expect Shiba Inu to reach the $0.000646 target before 2032, eight years from now. By 2032, Changelly projects that Shiba Inu will trade at a minimum price of $0.0006769, an average price of $0.00069693, and a maximum price of $0.00081291.
Shiba Inu to $0.62
Shiba Inu’s potential surge to $0.62 poses a more challenging task for the crypto asset. To reach the $0.62 target, Shiba Inu must surge 2,474,949% from its current price of $0.00002505.
However, Telegaon still thinks Shiba Inu can achieve this feat in its lifetime. For Telegaon, Shiba Inu could reach the $0.62 price level by 2050, 26 years from now. The $0.62 target is the minimum price level Telegaon expects Shiba Inu to record by 2050. The platform speculates an average price of $0.89 and a maximum price of $1.06 in the same year.
Meanwhile, Changelly does not think Shiba Inu could reach the $0.62 target by 2050. By 2050, Changelly analysts expect SHIB to trade at a maximum price of $0.033. At press time, Changelly analysts have yet to issue any other prediction for Shiba Inu beyond 2050.
Many investors may consider Shiba Inu’s potential surge to $0.62 to be unrealistic for the token, given its enormous circulating supply. The Shiba Inu community has been relentless in reducing SHIB’s supply via its ongoing burn campaign that has led to the incineration of over 410.7 trillion SHIB so far.
At the moment, the Shiba Inu ecosystem team is already burning SHIB using a portion of Shibarium gas fees. There is a likelihood that the team could roll out more initiatives to intensify SHIB burns in the future.
Additionally, Shiba Inu is also making significant moves to transition into a utility cryptocurrency project to bolster adoption. So far, Shiba Inu boasts its own non-fungible token, metaverse, decentralized exchange, L2 blockchain, and other upcoming initiatives.