Dogecoin’s Historic Rise Spurs Confidence in Shiba Inu’s Potential to Hit $0.01
Market analyst Louis Delgado (Del Crxpto) recently highlighted a historic milestone achieved by Dogecoin, expressing his firm belief that Shiba Inu’s rise to $0.01 is inevitable.
In a recent post on X, Delgado pointed to Dogecoin’s ability to surpass the $0.01 mark. As the first-ever meme coin, Dogecoin debuted at an initial price of $0.00056 in December 2013. The coin soared to a peak of $0.00232 a month later, only to drop to $0.0001 by August 2014.
Dogecoin: Making the Impossible Possible:
Dogecoin traded between $0.0001 and $0.0002 for nearly four years, during which any discussions about a rise to $0.01 seemed absurd due to the significant increase required. However, during the bull run of 2017, Dogecoin began a historic upward trend, eventually reaching $0.01073 in December 2017.
Dogecoin has since climbed to greater heights, benefiting from billionaire Elon Musk’s endorsement, peaking at $0.7390 in May 2021. According to Delgado, Dogecoin’s rise above $0.01 served as a reminder to market participants that the impossible is possible.
This sentiment is prevalent in the cryptocurrency market, where assets have reached previously unimaginable values. One such case involves Shiba Inu, which has been the focus of many ambitious price targets. The $0.01 target has frequently appeared but was quickly dismissed by skeptics.
Confidence in Shiba Inu’s Rise to $0.01:
Despite skepticism, Delgado remains confident in Shiba Inu reaching the $0.01 milestone. He has consistently made predictions regarding this target, expressing unwavering confidence. In a previous post on X, the market commentator asserted that Shiba Inu’s rise to $0.01 is “certain.”
Delgado noted that once Shiba Inu surpasses $0.01, the narrative will shift to “$1 being impossible.” This observation is based on the fact that even the current price of $0.000016, where Shiba Inu is trading, was considered impossible when the token was trading at significantly lower values like $0.000000002 in 2020.
Shiba Inu’s marketer Lucy has also pointed out that the circulating supply, which exceeds 589 trillion tokens, poses a significant obstacle to reaching $0.01. A price of $0.01 for SHIB would result in a market capitalization of $5.89 trillion, more than double the current entire cryptocurrency market, making this price level challenging to achieve.
Read more Forbes Predicts a Bold Future for Shiba Inu (SHIB): Price to Hit $0.0003
Nonetheless, while the chances are extremely low, the cryptocurrency market has always been a source of surprises for investors. The highly unlikely scenario that could help SHIB reach $0.01 involves …
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