Shiba Inu is presently being traded at levels around $0.000007 and faces difficulties in removing its fifth decimal place, even with the introduction of Shibarium. This year has not seen a significant uptrend in the token’s value, as the initial excitement surrounding the launch of the layer-2 network quickly faded away. It has been nearly half a year since Shiba Inu last traded with five zeros, which is putting the patience of its investors to the test. SHIB boasts nearly 1.3 million investors, and a substantial portion of them find themselves in a loss position due to the declining price.
Shiba Inu Token Forecast
Telegaon, a prominent on-chain metrics and price forecasting company, has offered an optimistic outlook for Shiba Inu. According to their price projection, Shiba Inu could eliminate two decimal places and reach $0.0001 by mid-2027. The forecast suggests that SHIB will maintain an average price of $0.000153 in 2027, following a peak of $0.000198 during the same year. This translates to a substantial increase and a potential return on investment (ROI) of around 1,500%.
However, the prediction indicates that SHIB might continue trading with three decimal places until the end of the decade. Nevertheless, the price estimate asserts that the dog-themed token is unlikely to reach $0.01 even 17 years from now. Achieving the 1-Cent milestone appears to be a formidable challenge, given the slow pace of the token burn process. The notion of Shiba Inu burning trillions of tokens annually seems more like a myth at the moment. For a more realistic price forecast on when SHIB could eventually reach the $0.01 mark, you can refer to the linked article. As of the latest update, SHIB is trading at $0.000007, marking a 0.2% decline in the past 24 hours.
Furthermore, SHIB has experienced a significant drop of nearly 92% from its all-time high of $0.00008616, which it achieved in October 2021. It has been nearly two years since the dog-themed token saw a significant price decrease, and it has struggled to regain its previous peak.