As one of the leading meme coins, Shiba Inu (SHIB) has gained immense popularity in the crypto world since its inception. Its playful branding and catchy tagline “Dogecoin Killer” have attracted a large community of supporters and investors.
Shiba Inu has turned many early investors and traders into multi-millionaires and even billionaires in some cases. Moreover, there is speculation that this meme coin could potentially reach a new all-time high in the upcoming month (April).
However, to have one million dollars worth of SHIB at $0.0001 per token, you would require almost 10 billion SHIB Tokens. Currently, the cost of 10 billion SHIB tokens is approximately $271,370. If this investment is made, the portfolio’s value could potentially increase by over 250%.
How High Can SHIB Coin Go in April 2024?
According to CoinMarketCap, the SHIB Coin is currently trading at around $0.0000271, showing a bearish trend. However, many crypto analysts believe that Shiba Inu might remove another zero by April 2024, anticipating a surge to $0.0001 by the end of April 2024.
As per our expert’s technical and price analysis, Shiba Inu is anticipated to touch a maximum price of $0.0000838, with average price can be around $0.0000748 by the end of April 2024. On the other hand, the minimum price can decline to $0.0000657 if the crypto market faces any major bearish trend.
Moreover, one major thing affecting Shiba Inu’s price is its high token supply. However, the team behind the Shiba Inu project is developing a new burn mechanism that could potentially burn trillions of tokens annually. But, the official launch date for this new burn mechanism has not been announced yet.
Our Final Opinion: Investing in Shiba Inu can be a risky move, as with any cryptocurrency investment. However, considering its strong community and potential future developments, it could be worth the risk for those looking to invest in meme coins. As always, do your own research and consider consulting with a financial advisor before making any investment decisions.
Also Read: If you invested $1000 in Shiba Inu on Jan 1, 2024, How Much Could You Earn?
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
