Can Shiba Inu Coin Reach $1 By The End of 2024?

With the bull run just around the corner and meme coins becoming a hot commodity, everyone is wondering if SHIB will reach the $1 value by the end of the year. Things sure look good for it, but is this goal realistic?

Let’s find out!

What’s so special about Shiba Inu?

Meme coins became a thing in the early 2010s’ and were created to parody mainstream crypto. A good example is Dogecoin, which pretty much only exists to parody Bitcoin. In a funny twist, Dogecoin took off, attracting a passionate community in the process.

A few years later, Shiba Inu hit the scene and attracted even more attention. While it started as a basic meme coin, it eventually branched out and implemented ShibaSwap, a full-featured DEX. There are also plans to implement an L2 blockchain to lower fees and speed up transactions.

All in all, Shiba Inu is slowly introducing some well-needed utility that can only improve its fighting chance in the treacherous crypto market. But are these efforts enough to push it to $1 by the end of the year?

SHIB price predictions

According to some investors, Shiba Inu is past its prime and has already hit its value ceiling in 2021. However, others have a more positive outlook and predict SHIB may actually climb as high as $1 in 2025.

Shiba Inu Price is up 5% in the last week. Source: Brave New Coin Shiba Inu Market Cap data.

The current price is $0.00001882. With the surge in trading volume in the last few months (24-hour trading volume of $1,113,807,599 USD), it may be more realistic to expect the price to climb to at least $0.5 by the end of the year.

SHIB community sentiment is strongly bullish according to CoinMarketCap

That’s because there’s a tiny flaw in the $1 prediction. Apart from the fact that updates like the L2 haven’t been implemented yet, the circulating supply is simply too massive. Token burns would certainly help, but the way things are right now (589 trillion total supply), the market cap would have to be around $589 trillion – a stretch to say the least, considering ongoing trends.

While patiently waiting to see how the Shiba Inu progresses, it may be wise to check out newer, more practical meme coins that are experiencing a spike in popularity and redefining the meme coin sector with some big-boy features. A good example is another dog-themed coin called Shiba Galaxy ($SHIBG).

New kind of meme coin

While Shiba Inu is a good addition to any crypto portfolio, Shiba Galaxy is a valid choice if you’re looking for an up-and-coming meme project. It’s a meme coin, sure, but the features Shiba Galaxy brings to the table are that of quality crypto projects with real-world utility – a rare sight in the meme offshoot of the crypto community.

Not only is it affordable, but it’s also an L2 blockchain meme coin that offers instantaneous bridging between Ethereum and the Shiba Galaxy Chain.

This addresses the common pitfall of plenty of other coins in the meme sector – high transaction fees and slow processing speeds. As a full ecosystem, Shiba Galaxy features both a dedicated builder and a block explorer, allowing developers to create new meme coins with minimal effort.

To bridge the gap between regular crypto and a meme coin, Shiba Galaxy also offers staking, which will allow investors to gain more value on their investments.

At the moment, the pre-sale is in full swing. SHIBG can be purchased through the official website for only $0.105. The good news is that the market cap is just $30 million (compared to Shiba Inu’s $11 billion), which indicates there’s room for a potential upswing during the bull run.

Enrich your portfolio

Meme coins are here to stay. While Shiba Inu may not grow by a wide margin in the next few months, with token burns, it may eventually reach the $1 mark.
Shiba Galaxy, on the other hand, adds a breath of fresh air by combining mainstream crypto features with meme appeal. Since these traits are rare with meme coins, Shiba Galaxy may become a major player in the sector – especially for those who bag it early.

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.