Since its launch, the Shiba Inu (SHIB) ecosystem has witnessed impeccable growth. The asset has given birth to several millionaires and billionaires. Since its all-time low in 2020, the meme coin has risen by more than 17043332.8%. Currently, SHIB remains only 84% below its all-time high. Looking at its previous growth, the asset certainly can surge in the coming years.
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At press time, Shiba Inu was trading at $0.00001395 following a 5% rise over the past 24 hours. The assetâs latest spike has put more SHIB holders at a profit. According to data from IntoTheBlock, 48% of the assetâs holders were making profits at SHIBâs current price.
Alongside this, 43% of them were drowning in loss. Even though many investors were reaping profits, many were also at a loss.
Shiba Inuâs Potential For Growth
The network aims to witness more than 80% of its holders at a profit. But for this to occur, the asset must record a notable uptick. While the assetâs ascent to 1 cent could increase profits to many, 10 cents will be life-changing to its investors.
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When Will SHIB Hit 10 Cents?
An array of platforms have different predictions for Shiba Inu. With artificial intelligence models like ChatGPT taking over, Watcher Guru asked the bot when SHIB would reach such a level.
Market Cap Requirements
Considering its current market conditions, SHIB will take quite some time to reach the 10-cent mark. According to ChatGPT, SHIB will have to see a massive spike in market cap. The meme coinâs market cap should rise to $58.9 trillion. It should be noted that the industryâs current market cap is a little over $2 trillion.
Supply Reduction Through Burns
In addition, a drastic drop in the supply of the asset could push its price. The Shiba Inu network has been carrying out burns for a while now. ChatGPT pointed out that a 90% burn could bring SHIB closer to its 10-cent dream.
Further highlighting the timeframe, ChatGPT predicts that it could take SHIB several decades to hit this level.
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