2 Key Factors Pushing The Shiba Inu Price To $0.001 In 2024

Despite
adaptations
and
efforts,
Shiba
Inu
price
hasn’t
recovered
the
way
it
was
supposed
to.
Shiba
Inu,
the
second
most-demand
meme
coin,
has
been
wandering
around
at
a
low
value
for
years
now.
However,
hope
has
risen
among
investors
as
the
analysts
talk
about
Shiba
Inu’s
price
to
hit
$0.001
this
year.

In
this
blog,
let
us
discuss
the
key
factors
pushing
the
Shiba
Inu
price
to
$0.001.

Shiba
Inu
Price
Analysis

Shiba
Inu’s
price
is
limited
to
$0.00002397
and
is
72%
away
from
its
all-time
high
record
of
$0.00008845
set
three
years
ago.
In
2021,
SHIB’s
price
surged
by
45,000,000%,
and
a
minor
investment
made
traders
millionaires.
However,
with
the
FTX
fall,
Shiba
Inu
has
sunken
to
the
bottom
until
now.
With
the
bullish
market
condition
at
the
beginning
of
2024,
Shiba
Inu’s
price
and
many
other
cryptocurrencies
faced
a
boost.
At
that
time.
Shiba
Inu
peaked
at
$0.00003356,
the
highest
value
in
three
years.

Later,
the
price
rally
was
halted
by
the
declining
market
condition,
which
brought
the
value
down.
But
with
the
recovery
in
conditions
this
week,
SHIB
price
has
also
lifted,
building
the
hopes
of
targeting
the
$0.001

Can
Shiba
Inu
Price
Hit
$0.001?

Based
on
Shiba
Inu’s
price
history,
the
target
of
$0.001
is
way
higher
than
its
all-time
high
of
$0.00008845.
This
ATH
was
set
in
the
most
bullish
moments
of
Shiba
Inu.
Expecting
a
target
of
$0.001
is
even
more
challenging
as
Shiba
is
bulls
away
from
reaching
the
ATH.
However,
the
last
few
improvisations
and
features
like
SHIB
Burn,
Shibarium,
and
surged
demand
for
meme
coins
in
2024
could
help
the
SHIB
to
surge
in
the
upcoming
days.

SHIB
Burn

SHIB
Burn
is
an
initiative
to
remove
a
proportion
of
Shiba
Inu
supply
to
create
demand.
Like
any
meme,
Shiba
Inu
was
launched
with
a
humongous
total
supply,
getting
in
its
way
due
to
decreased
demand
in
the
market.
With
the
SHIB
burn
mechanism,
the
team
has
reduced
the
total
supply
to
589.52T
SHIB
after
burning
410T
SHIB
till
now.
In
the
last
24
hours
only,
around
6.3M
$SHIB
has
been
burnt.

If
the
supply
of
this
dog-themed
coin
keeps
reducing
the
same,
the
increased
demand
and
stability
will
aid
in
its
price
rally.

Shibarium
Network

Shibarium
is
the
L2
network
launched
on
the
Ethereum
blockchain
to
aid
the
Shiba
Inu
meme
coin.
It
was
built
to
provide
three
necessary
benefits
to
the
SHIB
network,
scalability,
security,
and
efficiency.
Shiba
Inu’s
creator,
Ryoshi,
introduced
Shibarium
as
a
way
to
transform
it
from
a
mere
meme
coin
to
a
complete
ecosystem,
which
includes
being
the
decentralized
exchange,
running
on
metaverse,
and
drafting
blockchain
games
like
Shiba
eternity.

From
the
moment
of
launch,
Shibarium
has
achieved
multiple
grand
milestones,
improving
its
performance
and
increasing
the
Shiba
Inu
price.
Just
recently,
it
went
through
a
Heimdall
hard
fork
to
boost
transaction
reliability
on
the
network.
With
the
completion
of
this
hard
fork,
Shiba
Inu’s
price
witnessed
an
instant
6%
surge
to
$0.00002303.

In
such
a
way,
both
the
Shib
Burn
and
the
Shibarium
network
can
aid
in
pushing
the
Shiba
Inu
price
even
further.
Maybe
not
to
the
target
of
$0.001,
but
an
impressive
surge
might
be
witnessed
when
the
post-bitcoin
halving
rally
turns
the
crypto
market
bullish.