Shiba Inu is inching closer to eliminating a value from its entire figure. The hint is at the token jumping in its trading value tenfold, a phenomenon that is also referred to as erasing zeroes. SHIB is currently valued at $0.000008017, an increase of 0.26% in the last 24 hours. Seeing the valuation this close has put the community on the edge, thinking that the token could surpass the valuation of $0.00001 by the end of this year.
SHIB is estimated to do that before it begins next year. However, the token is alternatively estimated to stay more or less the same.
Two of the many variables that will influence the final price are the product’s global potential and acceptance. Acceptance encompasses both the bullish accumulation of tokens by existing holders and the addition of tokens to portfolios by new holders.
Shiba Inu surpassing the stated benchmark is also predicated on the notion that the team is working on a significant project. Shytoshi Kusama has hinted at this by stating that several significant adjustments are imminent. Uncertainty surrounds the nature of the alterations referred to in the statement. Despite this, SHIB is approximately 90% lower than its all-time maximum.
SHIB will have to prove that it is more than just a meme coin, and this is precisely where its potential comes in. Community-driven cryptocurrencies have to strike maximum market valuation along with interest. It is only then that there will be greater confidence among those who want to get on board.
The price increase of SHIB is also supported by the fact that the entire cryptocurrency community is currently shifting gears. This is an explicit reference to Bitcoin and Ethereum discarding the burden of the crypto winter. BTC, for example, is well above the $30k threshold, surpassing the value of $34k at the time of writing. Similarly, ETH has surpassed a transaction valuation of $1,800. It was observed fluctuating around $1,813.68, a rise of 1.50% over the previous 24 hours.
BTC and ETH dominate the cryptocurrency market without concern. Consequently, the market sentiments of traders, both retail and institutional. Initially, the price of one bitcoin was anticipated to approach the $30,000 mark. It accomplished this by gaining a 4k margin. Assuming both tokens continue their ascent, there is a strong likelihood that the crypto market will recover, particularly for those who have maintained their holdings throughout the winter season.
The market capitalization of SHIB is also poised to break some records. The ideal goal is to increase its trading value in the hopes that it will sustain the growth for a longer time. Volatility will play an important role, no matter the situation or token. Shiba Inu will just have to fight a little harder to prove that it is indeed more than just a meme coin.