The Shiba Inu (SHIB) cryptocurrency’s price reaching $1 is highly improbable due to various factors, according to an analyst from InvestingHaven. The analyst stated that SHIB’s market cap and supply are too large and that the adoption rate is not fast enough for the coin to hit $1. Additionally, speculative market sentiment is unlikely to sustain a $1 price point.
In order for SHIB to reach $1, it would need significant supply burns, widespread adoption, and a shift in market sentiment. These factors would need to align perfectly, which is challenging given SHIB’s current structure and speculative nature. Although SHIB has shown some bullish signs in the short term, long-term growth to $1 remains unlikely.
