Analysts and market watchers have been speculating on the future price direction of Shiba Inu (SHIB). While some have made bullish forecasts about the digital asset, there have been some claims that are extremely unrealistic. An article in the reputable media outlet Analytics Insight predicted that SHIB could hit $10 by 2024 with the Shiba Inu Metaverse project as the potential driver.

However, this prediction has been immediately dismissed by most of the market players as it requires a completely unattainable 101,358,099% surge from the current price. For Shiba Inu to reach that number, its circulating supply would need to drastically reduce to around 1 billion tokens, marking a 99.9% drop. This is highly unlikely to happen unless all holders of the asset agree to burn their SHIB holdings.

Rather than this ambitious $10 target, the Shiba Inu community is looking at $0.0001 to $0.001 as a realistic outcome. Measures have been taken to provide support for SHIB price movements with the L2 network, Shibarium, which plans to burn tokens with 70% of base transaction fees.

At present, SHIB is trading for $0.000009873, down 0.85% in the past 24 hours. Although the asset is on the decline, the Shiba Inu holders remain hopeful that it will cross the $0.00001 territory as a safeguard against further drops.



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