How Soon Could Shiba Inu Hit $100, $500, and $1000?

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As a seasoned researcher with years of experience in the volatile world of cryptocurrencies, I have seen my fair share of meteoric rises and crushing falls. The allure of meme coins like Shiba Inu (SHIB) is undeniable, but the question of whether it can reach prices as high as $100, $500, or even $1,000 is a topic that requires a realistic approach.

Investors in the meme cryptocurrency market have frequently experienced significant, although unpredictable, returns thanks to its high volatility. Traders who are drawn to speculation and crypto fans alike often ponder if well-known coins such as Shiba Inu (SHIB) could potentially reach lofty price goals like $100, $500, or even $1,000.

When Could Shiba Inu Reach $100, $500, or $1000?

At the time of reporting, the price of Shiba Inu was at approximately 0.000018 dollars, significantly increasing its total market value to around 10.83 billion dollars. Presently, this meme-based cryptocurrency is being traded far below the one dollar mark, and for it to reach or surpass $100, a massive, almost cosmic increase in its market capitalization would be necessary.

Should the number of Shiba Inu coins in circulation stay constant, reaching a price of $100 would result in a market capitalization surpassing a staggering $58.9 trillion. This figure is approximately 25.28 times greater than the current total value of all cryptocurrencies combined, which amounts to around $2.33 trillion.

Consequently, hitting a price goal of $100, $500, or even $1000 requires massive financial investment, an occurrence that appears plausible in the upcoming years.

Check out the article on top meme coins to buy for a detailed analysis.

What’s the Realistic Target for SHIB

In simpler terms, on the day-by-day Shiba Inu price graph, there appears to be a reversed “head and shoulders” shape. This configuration consists of three significant price movements, where the middle one dips lower compared to the other two.

In theory, this price pattern suggests a significant change in direction for Shiba Inu, with potential resistance or support levels located at a distance equal to the height between the neckline and the peak of the bottom. Today, the Shiba Inu market has seen a drop of 4.88%, aiming to find stability at around $0.000018.

If the underlying support remains strong, buyers in the market for digital coins could potentially push prices up by 11.6%, breaking through the pattern neckline resistance at approximately $0.000012. Once this resistance is successfully turned into support, it could further fuel bullish momentum, potentially leading to a surge of around 48% that would take the price to roughly $0.00002.

How Soon Could Shiba Inu Hit $100, $500, and $1000?

If sellers persistently hold the $0.00002 level, there’s a possibility that the Shiba Inu (SHIB) price may experience an extended period of stability over the next few months.

What Needs to Happen for Major Breakthroughs?

The Bitcoin price rise towards $70,000 has restone the Uptober sentiment in the crypto market. Along with broad market recovery, the Shiba Inu price needs the following factors to achieve the aforementioned target.

  • Aggressive Token Burns: Shiba Inu’s massive circulating supply remains the primary obstacle to price growth. Thus, the SHIB coin needs significant burn events to reduce the market supply and drive a significant recovery trend.
  • Widespread Adoption: The crypto market is rapidly maturing, and investors are looking for better utility in their investment than just market hype. Shiba Inu needs to expand its real-world use cases, integrate into more decentralized finance (DeFi) ecosystems, and establish strong partnerships with major platforms.
  • Market Conditions: This dog-theme meme asset would require the support of broader market recovery to drive a sustained recovery. With leading digital assets Bitcoin and Ethereum preparing for a Q4 rally, the SHIB price could break out of the In H&S pattern to escape the 4-month accumulation trend.

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2024-10-21 19:08