When Shiba Inu emerged, it was dubbed a DOGE killer. During that period, SHIB, which was DOGE’s closest follower and occasionally entered the top 10, did not lose its second place in the meme coin world to its rivals. In 2021, a potential target from a famous name drew all attention to SHIB.
Shiba Inu and Price History
A SHIB prediction by Moataz “Eljaboom” Elsayed, a candidate on Forbes’ 40 under 40 list, attracted attention. Eljaboom pointed to SHIB’s past and suggested that the price could potentially reach $0.00024.
Eljaboom’s forecast necessitates examining the movements on SHIB’s side since mid-2021 for better understanding. In May 2021, the token reached a historic milestone and was listed by the Binance exchange.
Following the listing, SHIB experienced an incredible price surge and rose to $0.00005. Afterward, the price clearly pulled back to the $0.00001995 region. Following this historic rise, SHIB reached its ATH of $0.00008854 in October 2021.
However, the price started to decline afterward. In May 2022, the Terra events were one of the reasons for SHIB’s decline. After the declines, SHIB fell below the $0.00001784 support level, as seen above. This support level later turned into resistance. This area persisted for 658 days and was one of the biggest obstacles for SHIB.
In March 2024, SHIB made a move that broke this point. SHIB suddenly surged from this region and achieved an incredible 374% increase. After the rise, the price reached a period peak of $0.00004567.
How Much is SHIB Coin Now?
Considering the analysis by the famous name, SHIB could potentially increase its price by over 1,000% from its current level of $0.00002176. This means SHIB could eliminate one “0”.
If all these predictions come true, SHIB’s market value could reach $141.6 billion. Considering all these factors, it would be healthy for investors to consider that SHIB could accompany a possible Bitcoin bull run and experience a price increase.
However, it is known that the market has experienced declines in the past due to economic and political events, which can negatively affect cryptocurrencies. Therefore, it would be healthier for investors to closely follow movements in the world and markets, especially Bitcoin movements.
