Shiba Inu: Here's When SHIB May Reclaim Its Peak of $0.000086

Shiba Inu (SHIB) has been among the best-performing crypto assets for the last four years. Since its launch in August 2020, to reaching its all-time high of $0.00008616 in October 2021, SHIB’s price rallied by many million percent. Many early investors made millions of dollars in profit if not billions. However, the asset has more or less struggled since its 2021 high. SHIB is currently down by 72.5% from its all-time high.

Also Read: Shiba Inu: $5 Monthly Since Launch Becomes $9 Million in 2024

SHIB’s plummet from its 2021 peak is likely due to the bearish market conditions in 2022 and 2023. However, SHIB fans and investors are pursuing higher prices for the asset.

When will Shiba Inu (SHIB) reclaim its all-time high?

shiba inu shib eclipse
Source: Twitter

According to CoinCodex, SHIB could surge to $0.00007993 on May 27, 2024, about 7.8% away from its 2021 peak. If SHIB can hold its price at $0.00007993, the asset may hit a new all-time high in May or June.

Also Read: Shiba Inu: Robinhood Enables SHIB Trading In New York

Source: CoinCodex

Changelly also paints a bullish picture for Shiba Inu (SHIB) in May. The platform anticipates SHIB to hit $0.00008351 on May 25, 2024.

Both platforms anticipate SHIB to get very close to its all-time high of $0.00008616 next month. If the asset continues its bullish outlook, it may surpass its previous peak.

Also Read: Shiba Inu (SHIB) Predicted to Reclaim All-Time High: Here’s When

One of the most significant barriers to Shiba Inu’s (SHIB) price is its massive 589 trillion supply. If the team can reduce the asset’s circulating supply, its price may skyrocket. One of the most impactful moves that helped SHIB rally in 2021 was Vitalik Buterin’s massive burn. Buterin received half the SHIB supply upon launch. However, the Ethereum co-founder decided to burn 90% of the tokens he received.

  • shiba inu

Comments

Post a Comment

Popular posts from this blog

Australian Regulators halt Bitcoin, Ethereum funds for Investment firm

The Australian Securities and Investments Commission has passed interim stop orders against asset manager Holon Investments from offering or distributing three crypto-related funds—tracking Bitcoin, Ethereum, and FileCoin—to investors. Per the official statement, the said decision has been passed due to Holon’s non-compliant target market determinations [TMDs]. Australia’s apex market regulator made interim orders to protect retail investors from potentially investing in funds that may not be suitable for their financial objectives, situation, or needs. ASIC has made interim stop orders preventing Holon Investments Australia Limited from offering or distributing three funds to retail investors because of non-compliant target market determinations. https://t.co/AXpqgdAQnl — ASIC Media (@asicmedia) October 16, 2022 The official statement noted, The interim orders stop Holon from issuing interests in, giving a product disclosure statement for, or providing general
Read more

Litecoin halving completes as LTC sees increased payments adoption

Image
Litecoin block rewards have now halved to 6.25 LTC as the halving clock is reset for another four years. The Litecoin halving event has been completed with block rewards now halved at 6.25 Litecoin (LTC) per block.  On Aug. 2, the Litecoin blockchain went through its automated halving procedure at block 2,520,000. LTC miners are now getting half the rewards and the clock has been reset for the next halving in roughly four years' time. Litecoin founder Charlie Lee commented on the discrepancies between the different halving countdown timers, suggesting that the NiceHash one was the most accurate. However, all of them agreed on an Aug. 2 date. This is funny. I googled "Litecoin Block Halving Countdown" and checked the first 4 hits. The ETA for the halving is all over the map! From my quick calculation, I believe NiceHash's countdown is the most accurate. I expect the halving to occur in about a 1 day, 2 hours, and 30… pic.twitter.com/7lvOKCtiOh — Charlie Lee ️️ (@
Read more

Exploring the early CBDC adoption results beyond the hype

Image
Preliminary outcomes from countries where central bank digital currencies (CBDCs) have been introduced show mixed results. Despite widespread exploration and a handful of launched projects, CBDCs are yet to achieve global adoption.  According to an Atlantic Council report, 130 countries and currency unions are exploring CBDCs, with 11 nations having launched their digital currencies.  Сountries launched, testing or developing CBDCs, as of July 2023 | Data source: Atlantic Council This rapid pace of exploration is a significant increase from May 2020, when only 35 countries were considering a CBDC. Now, 64 countries are in an advanced exploration phase, including development, pilot, or launch. The European Central Bank (ECB) is on track to pilot its digital euro, while Australia, Thailand, Russia, and several other nations are continuing their pilot testing. In contrast, the United States’ progress on retail CBDC has somewhat stalled, but it’s forging ahead with wholesale CBDC deve
Read more