Shiba Inu (SHIB) has faced quite a correction over the last few weeks. The asset is down 1.7% in the daily charts and 30.1% over the previous month. Despite the dip, SHIB’s price has faced no changes in the weekly charts. The asset has also rallied 9.4% in the 14-day charts and nearly 62% since February 2024.
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Shiba Inu Stumbles Along With The Larger Market
SHIB’s current predicament is likely due to the larger crypto market stagnating. Bitcoin (BTC) is struggling to regain the $100,000. The global crypto market cap has also fallen to $3.3 trillion. SHIB’s ranking has slipped to the 20th position among the top projects by market cap.
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The market dip is likely due to macroeconomic factors. Investors may be weary of risky assets such as cryptocurrencies. Shiba Inu (SHIB), being a memecoin, has even more risks than regular coins.
When Will The Asset Delete A Zero?
Shiba Inu (SHIB) investors have long pursued the $0.0001 price point. The memecoin has to rally by 530.9% to hit the $0.0001 mark.
According to Telegaon, SHIB could breach the $0.0001 mark in 2027, about two years from now. The platform anticipates the asset to hit a maximum price of $0.000198 in 2027. Hitting $0.000198 from current price levels will entail a rally of about 1149.2%.
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Changelly also presents a similar forecast for Shiba Inu (SHIB). Like Telegaon, Changelly also predicts SHIB will breach the $0.0001 price point in 2027. The platform anticipates the asset to hit a maximum price of $0.0001229877 in 2027. Reaching $0.0001229877 from current price levels will lead to a rally of about 675.95%.
