{"id":575804,"date":"2024-02-19T20:00:46","date_gmt":"2024-02-19T20:00:46","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=575804"},"modified":"2024-06-11T08:33:24","modified_gmt":"2024-06-11T08:33:24","slug":"shiba-inu-price-never-reach-1","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/shiba-inu-coin\/shiba-inu-price-never-reach-1\/","title":{"rendered":"Crypto Analyst Reveals Why Shiba Inu Price Will Not Reach $1"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Despite witnessing recent price increases and moving forward with ongoing developmental projects in its ecosystem, cryptocurrency analyst Zack Humphries has declared that SHIB, the native token of the Shiba Inu ecosystem, will not \u201creach $1 anytime soon.\u201d\u00a0<\/span><\/p>\n<h2>Why Shiba Inu Will Not Hit $1<\/h2>\n<p><span style=\"font-weight: 400\">In a recent YouTube video, Humphries provided a compelling reason for why he believes that the price of <\/span><a href=\"https:\/\/shenyangcang.com\/shiba-inu\/what-is-shiba-inu-price-prediction\/\"><span style=\"font-weight: 400\">SHIB<\/span><\/a><span style=\"font-weight: 400\"> will not reach the $1 milestone in the near future. The crypto analyst\u2019s controversial statement is rooted in the belief that <\/span><a href=\"https:\/\/bitcoinist.com\/shiba-inu-to-1-ai\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">SHIB hitting $1<\/span><\/a><span style=\"font-weight: 400\">, would position it as the most valuable cryptocurrency asset and the largest company by market capitalization.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-rise-to-52000-masks-potential-pitfalls-ahead-analyst-warns\/\">Bitcoin\u2019s Rise To $52,000 Masks Potential Pitfalls Ahead, Analyst Warns<\/a><\/div>\n<p><span style=\"font-weight: 400\">Adding weight to his argument, Humphries pointed out the unparalleled <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-as-one-of-the-best-performing-assets-report\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">value of Bitcoin<\/span><\/a><span style=\"font-weight: 400\"> in the digital asset market and the dominance of Apple Inc. as the world\u2019s largest company by market capitalization. These formidable benchmarks make SHIB\u2019s ascent to $1 an almost impossible task, as it would have to surpass not only <\/span><a href=\"https:\/\/bitcoinist.com\/cathie-wood-hails-bitcoin-as-digital-gold\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin<\/span><\/a><span style=\"font-weight: 400\"> in the cryptocurrency landscape but also compete with established tech giants like Apple.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Humphries has labelled any predictions and expectations of SHIB surging to $1 in 2024 as \u201cgarbage.\u201d At the time of writing, the cryptocurrency is trading at a price of $0.0000098, reflecting a 5.64% increase in the past seven days, according to CoinMarketCap.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The <a href=\"https:\/\/bitcoinist.com\/shiba-inu-burn-rate-shib-price\/\" rel=\"nofollow\">highest price <\/a><\/span><span style=\"font-weight: 400\">Shiba Inu<\/span><span style=\"font-weight: 400\"> has been able to achieve since its inception is $0.000086 in October 2021. Following this all-time high, the cryptocurrency has struggled to achieve a significant price increase despite its rapidly <\/span><a href=\"https:\/\/shenyangcang.com\/shiba-inu\/shiba-inu-ecosystem-soars-shibarium-hits-crucial-milestone\/\"><span style=\"font-weight: 400\">developing ecosystem.\u00a0<\/span><\/a><\/p>\n<h2>SHIB\u2019s Recent Price Performance<\/h2>\n<p><span style=\"font-weight: 400\">Lately, Shiba Inu has been witnessing steady gains, capturing the attention of major long-term holder investors. A massive shift in whale movements was recorded in the last few days, with over <\/span><a href=\"https:\/\/shenyangcang.com\/shiba-inu\/shiba-inu-records-2500-spike-in-whale-activity-shib-price-about-to-skyrocket\/\"><span style=\"font-weight: 400\">2,500% surge in large holder inflows.\u00a0<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400\">Additionally, in the past week, Shiba Inu has displayed strong signs of a bullish recovery, which could see the cryptocurrency <\/span><a href=\"https:\/\/shenyangcang.com\/shiba-inu\/breakout-confirmed-shiba-inu-price-73-surge\/\"><span style=\"font-weight: 400\">rallying<\/span><\/a><span style=\"font-weight: 400\"> by a staggering 73% and achieving new price highs. On February 16, SHIB <\/span><a href=\"https:\/\/x.com\/sand_shibarmy\/status\/96375063?s=46\" rel=\"nofollow\"><span style=\"font-weight: 400\">erased a zero<\/span><\/a><span style=\"font-weight: 400\"> from its price and began trading at 0.00001.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/bitcoin-news\/bitcoin-rally-is-far-from-over-2-key-factors-behind-the-momentum\/\">The Bitcoin Rally Is Far From Over: 2 Key Factors Behind The Momentum<\/a><\/div>\n<p><span style=\"font-weight: 400\">This uptick came as <\/span><a href=\"https:\/\/bitcoinist.com\/heres-what-drove-bitcoin-price-to-50000-expert\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin successfully crossed the $50,000<\/span><\/a><span style=\"font-weight: 400\"> price mark on Monday, February 12. At the time of writing, the cryptocurrency is trading at $52,230, according to CoinMarketCap.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">While the prospects of Shiba Inu reaching the $1 price mark may appear distant, the cryptocurrency is still gaining steady momentum as more <\/span><a href=\"https:\/\/shenyangcang.com\/shiba-inu\/shiba-inu-8-billion-shib-burned\/\"><span style=\"font-weight: 400\">SHIB burns<\/span><\/a><span style=\"font-weight: 400\"> take place and new innovative projects are introduced into the ecosystem.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In January alone, the Shiba Inu team <\/span><a href=\"https:\/\/shenyangcang.com\/shiba-inu\/shiba-inu-9-35-billion-shib-burn\/\"><span style=\"font-weight: 400\">recorded an impressive 9.35 billion SHIB burns<\/span><\/a><span style=\"font-weight: 400\">. Moreover,\u00a0 with the imminent launch of the automated SHIB burn mechanism, additional token burns are anticipated. This could present an effective strategy to diminish the token\u2019s circulating supply and enhance its value through increased scarcity.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/ojhKx4yl\/\" alt=\"Shiba Inu price chart from Tradingview.com (SHIB crypto analyst)\" width=\"3286\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">SHIB price struggles to keep up with the market | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">SHIBUSD on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from CoinMarketCap, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Despite witnessing recent price increases and moving forward with ongoing developmental projects in its ecosystem, cryptocurrency analyst Zack Humphries has declared that SHIB, the native token of the Shiba Inu ecosystem, will not \u201creach $1 anytime soon.\u201d\u00a0 Why Shiba Inu Will Not Hit $1 In a recent YouTube video, Humphries provided a compelling reason for why he believes that the price of SHIB will not reach the $1 milestone in the near future. The crypto analyst\u2019s controversial statement is rooted in the belief that SHIB hitting $1, would position it as the most valuable cryptocurrency asset and the largest company by market capitalization.\u00a0 Related Reading: Bitcoin\u2019s Rise To $52,000 Masks Potential Pitfalls Ahead, Analyst Warns Adding weight to his argument, Humphries pointed out the unparalleled value of Bitcoin in the digital asset market and the dominance of Apple Inc. as the world\u2019s largest company by market capitalization. These formidable benchmarks make SHIB\u2019s ascent to $1 an almost impossible task, as it would have to surpass not only Bitcoin in the cryptocurrency landscape but also compete with established tech giants like Apple. Humphries has labelled any predictions and expectations of SHIB surging to $1 in 2024 as \u201cgarbage.\u201d At the time of writing, the cryptocurrency is trading at a price of $0.0000098, reflecting a 5.64% increase in the past seven days, according to CoinMarketCap.\u00a0 The highest price Shiba Inu has been able to achieve since its inception is $0.000086 in October 2021. Following this all-time high, the cryptocurrency has struggled to achieve a significant price increase despite its rapidly developing ecosystem.\u00a0 SHIB\u2019s Recent Price Performance Lately, Shiba Inu has been witnessing steady gains, capturing the attention of major long-term holder investors. A massive shift in whale movements was recorded in the last few days, with over 2,500% surge in large holder inflows.\u00a0 Additionally, in the past week, Shiba Inu has displayed strong signs of a bullish recovery, which could see the cryptocurrency rallying by a staggering 73% and achieving new price highs. On February 16, SHIB erased a zero from its price and began trading at 0.00001.\u00a0 Related Reading: The Bitcoin Rally Is Far From Over: 2 Key Factors Behind The Momentum This uptick came as Bitcoin successfully crossed the $50,000 price mark on Monday, February 12. At the time of writing, the cryptocurrency is trading at $52,230, according to CoinMarketCap.\u00a0\u00a0 While the prospects of Shiba Inu reaching the $1 price mark may appear distant, the cryptocurrency is still gaining steady momentum as more SHIB burns take place and new innovative projects are introduced into the ecosystem.\u00a0 In January alone, the Shiba Inu team recorded an impressive 9.35 billion SHIB burns. Moreover,\u00a0 with the imminent launch of the automated SHIB burn mechanism, additional token burns are anticipated. This could present an effective strategy to diminish the token\u2019s circulating supply and enhance its value through increased scarcity. SHIB price struggles to keep up with the market | Source: SHIBUSD on Tradingview.com Featured image from CoinMarketCap, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":575837,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[167,6664,26263,14690,83668,84473,89707,83667,89157,86437,89559,84562,84558],"class_list":["post-575804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-shib","tag-shib-price","tag-shib-price-prediction","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-price","tag-shiba-inu-price-prediction","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\n<title>Crypto Analyst Reveals Why Shiba Inu Price Will Not Reach $1<\/title>\n<meta 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