Shiba Inu to $1: Pipe Dream or Inevitable Moon Mission?
Dogecoin’s cheeky cousin keeps barking up the speculative tree—but when does this meme coin actually have a shot at the dollar milestone?
Let’s crunch the uncomfortable numbers: SHIB’s current circulating supply would require a market cap surpassing most sovereign wealth funds to hit $1. Even with aggressive burns, the math feels like a Wall Street analyst’s caffeine-fueled hallucination.
Yet crypto’s a land where logic takes backseat to hype trains. If Dogecoin could flirt with $0.70 during the 2021 frenzy, who’s to say SHIB won’t catch its own irrational wave? Just don’t bet your Tesla on it.
Tokenomics aside, the real hurdle? Convincing investors this isn’t just another ‘greater fool’ play while VCs quietly exit through the revolving door.
Shiba Inu Records Increased Price Action!
As per the latest reports, the SHIB burn rate has experienced a jump of 180.85% in 24 hours to 38,126,662 SHIB tokens. Notably, during this period, it has experienced 3 burn transactions with 2 exceeding 10 million tokens in a single transaction.
Moreover, Shibarium has introduced Remote Procedure Call (RPC) rate limits to enhance Decentralization (DeFi), recommending developers operate personal nodes for greater resilience. This comes after significant whale sell-off, Shiba Inu could see growth from fresh buyers and Shibarium ecosystem advances.
SHIB Memecoin Struggle To Breakout of Its Important Resistance Zone!
With a trading volume of $457.59 million, the Shiba Inu price has dropped approximately 3% in 24 hours. Moreover, with a circulating supply of 589.5 trillion, this memecoin is exchanging hands at $0.0000148 and has a valuation of $8.75 billion. With this, it has a dominance of 0.2541% in the crypto market.
The Relative Strength Index (RSI) is on the verge of retesting its neutral point in the daily time frame with its average trendline constantly acting as a resistance to the SHIB price chart. This indicates a mixed price action for it in the crypto space.
While the 50-day EMA acts as support to the price chart in the 1D time frame. On the other hand, the 200-day EMA displays a strong resistance around the $0.0000160 level. By evaluating the present market sentiments, this memecoin is set to witness increased price volatility in the upcoming time.
How High Will Shiba Inu Go In 2025?
Maintaining the value above the $0.00001525 could set the stage for SHIB price to head toward its target price of $0.000020. If the bullish sentiment intensifies at that point, this may result in the second largest meme coin preparing to retest its upper price target of $0.000025 during the upcoming weeks.
On the contrary, if the bears outrun the bulls, this could result in the SHIB price retesting its immediate support level of $0.0000125. Furthermore, if the bearish sentiment intensifies, the price of Shiba Inu token could plunge toward its crucial support level of $0.000010.
Also Read: Dogecoin or Shiba Inu: Which will Gain More From Bitcoin ATH?
