Shiba Inu Price Can’t Reach $0.01, Crypto Pundit Reveals Why

Crypto
analyst
Oscar
Ramos

has
outlined
why
he
doesn’t
believe
the
Shiba
Inu
price
can
go
above
$0.01
this
cycle.
He
made
this
statement
while
alluding
to
the
possibility
of
the

meme
coin

reaching
$0.5
at
some
point
in
the
future.

Why
Shiba
Inu
Can’t
Go
Above
$0.01

Ramos
mentioned
in
an
X
(formerly
Twitter)

post

that
Shiba
Inu
can’t
go
above
$0.01
because
of
its
current
supply
of
over
589
trillion,
according
to

data

from
CoinMarketCap.
The
crypto
analyst
made
this
remark
while
sharing
a
prediction
chart
from
the

price
prediction
website
Telegaon,
which
showed
that
Shiba
Inu
could
reach
$0.5
in
2040.

Related
Reading

Source:
Telegoan

Indeed,
Shiba
Inu’s
circulating
supply
significantly
impacts
its
price,
which
is
why
the

Shiba
Inu
team

has
made
a
conscious
effort
to
reduce
the
amount
of
SHIB
tokens
in
circulation
through
regular

token
burns.

Shiba
Inu’s
burn
tracker

had
previously
noted
that
Shiba
Inu’s
circulating
supply
would
need
to
be
just
over
85
billion
for
its
price
to
even
reach
$0.01,
as
Ramos
predicts.

That
means
almost
80%
of
Shiba
Inu’s
circulating
supply
still
needs
to
be
burned
for
the
meme
coin
to
attain
Ramos’
price
target.
Crypto
YouTuber
Jeff
had

previously
suggested

that
it
was
almost
impossible
for
Shiba
Inu
to
burn
that
much
of
its
circulating
supply,

stating

that
it
would
take
over
1
million
years
for
Shiba
Inu’s
circulating
supply
to
reduce
to
100
billion
tokens.

However,
there
is
no
doubt
that
the
Shiba
Inu
team
has
still
made
great
efforts
to
reduce
the
meme
coin’s
circulating
supply.
Over
76
billion
SHIB
tokens

were
burned

in
2023,
while
83
billion
were
burned
the
previous
year.
Seeing
how
Shiba
Inu’s
price
has
increased
since
last
year,
these
efforts
are
paying
off.

While
burning
80%
of
Shiba
Inu’s
circulating
supply
still
seems
like
a
far-fetched
goal,

SHIB
token
burns

are
expected
to
increase
exponentially,
especially
thanks
to
innovations
like
layer-2
network
Shibarium,
which
uses
some
of
the
transaction
fees
earned
for
SHIB
burns.
Therefore,
the
number
of
token
burns
carried
out
will
increase
as

Shibarium
enjoys
more
adoption.

SHIB
Can
At
Least
Rise
To
$0.011

Crypto
analyst
Ali
Martinez
had

previously
predicted

that
Shiba
Inu
could
make
a
historic
run
from
its
current
price
level
and
rise
to
as
high
as
$0.011.
Other
crypto
analysts
have
also
given
bullish
price
predictions
for
Shiba
Inu,
although
not
as
bullish
as
Martinez’s.