At the time of publication, the Shiba Inu was selling at $0.000013 after a 1.23% correction over the past 24 hours. Since the currency is acting like this, there may be an opportunity to short if the price falls.
If this happens, the price of Shiba Inu could drop by 27% and fall to $0.0000093. This would create a “fair value gap” (FVG), causing the price to fall further to $0.0000083. However, if the currency can reach the $0.0000179 level with a 95% gain, there could be a bull run for SHIB.
Despite this, many market experts have come up with different predictions about the possibility of SHIB reaching $1. Among them is Lark Davis, who has claimed that SHIB will not reach $1.
Shiba Inu Price Can Never Hit $1
Lack Davey Sis explained his point on Twitter using memes.
The meme currency was launched in August 2020 and is currently trading after rising to levels above $0.000012 in 13th place. The total supply of SHIB is $589.63 trillion, which is a huge hurdle for the currency to reach $1. However, if SHIB fails to break above $0.0000083, the currency will fall to around $0.0000074.
On the other hand, according to the CoinMarketCap community, Shiba Inu will receive $0.00001106 in 2022.
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Qadir Ak is the founder of Coinpedia. He has over a decade of technical writing experience, covering the blockchain and cryptocurrency space since 2010. He also interviewed some well-known experts in the cryptocurrency space.