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Shiba Inu Secures Community Support To Rally To $1, Here’s How
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Shiba Inu Secures Community Support To Rally To $1, Here’s How

Scott Matherson
Scott Matherson
10 months ago
3 mins read
Shiba Inu

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The possibility of Shiba Inu rising to $1 is one crypto community members look to support. This follows a recent poll by the crypto exchange CoinW, which showed that others besides the SHIB community believe such a price target may be attainable. 

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Shiba Inu Rising To $1 Gains Community Support

In an X (formerly Twitter) post, CoinW made a poll asking community members which prediction for the top-ranked crypto tokens is likely to happen first. This included the prediction of Shiba Inu rising to $1, which showed that the meme coin eventually rising to this price level has been considered and supported by notable figures in the crypto community. 

Shiba Inu rallying to $1 will undoubtedly be massive, representing over a 7 million percent price gain for the meme coin. However, such a price gain isn’t new to Shiba Inu, considering that it recorded an unprecedented price gain of 150 million percent in the 2021 bull run. However, it remains uncertain whether or not reaching this price level can happen in this market cycle.

Based on the most bullish predictions given for SHIB, the rally to $1 will unlikely happen in this bull run. Crypto analyst Ali Martinez, who has offered the most bullish price prediction for Shiba Inu, stated that the meme coin could rise to as high as $0.011 in this market cycle. Crypto analyst Armando Pantoja has predicted that Shiba Inu will rise to $0.001 in this bull run. 

While there is a consensus that Shiba Inu can eventually reach $1, some crypto analysts, like Oscar Ramos, have reservations about this happening. This came following his statement that Shiba Inu can’t even reach $0.01 in this cycle due to its current supply of over 580 trillion. 

Shiba Inu’s burn tracker previously noted that the meme coin will need to have a circulating supply of just over 85 billion to reach $0.01, meaning that Shiba Inu’s supply will still need to be much less if it is to reach $1 eventually. 

Shiba Inu’s Next Move

While the crypto community contemplates when Shiba Inu’s rise to $1 will happen, crypto analyst Javon Marks has provided insights into the meme coin’s next move. Marks has predicted that the meme coin could enjoy a price rally to $0.000081, with Shiba Inu already holding a larger breakout. 

A rise to this price level represents an almost 500% price gain for the meme coin from its current price. However, Marks is confident that SHIB can make such a run, noting how certain bullish signals on the chart point to a bullish breakout for the meme coin.

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SHIB has been trading at around $0.00001378, up over 5% in the last 24 hours, according to data from CoinMarketCap.

Shiba Inu SHIB SHIBUSDT
SHIB’s price trends to the downside on the daily chart. Source: SHIBUSDT on Tradingview

Cover image from Dall-E, chart from Tradingview

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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

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