The cryptocurrency industry entails thousands of assets. While the market started with just one cryptocurrency, now each one is different than the other. The meme coin market is often criticized for its lack of utility. But the introduction of Shiba Inu (SHIB) was a game-changer. The team behind the network has often highlighted its developments towards building SHIB’s utility. The community believes that this factor could push the meme coin beyond the 1 cent milestone.
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The 1 cent mark has been pertinent in the Shiba Inu market. The network has been relentlessly trying to claim this price level. But the asset is a far cry from this target. The highest that SHIB has surged to is its all-time high of $0.00008845. Sadly, the asset is 84% below this peak.
Shiba Inu Registers Double Digit Rise
The entire cryptocurrency market was jumping back into action after its brutal slowdown during the past few months. Shiba Inu did not fall behind. The meme coin saw an 11.63% increase in its price over the past 24 hours. At the time of writing, Shiba Inu was trading at a high of $0.00001376. In addition, the asset was priced at a low of $0.00001229 before jumping to a high of $0.00001389.
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Can $0.012 Become A Reality For The Meme Coin?
The chances of Shiba Inu claiming a high of 1.2 cents aren’t impossible. But the asset will most likely take some time. According to data from Telegaon, the meme coin will only reach this price level between the years 2035 and 2040. The community will clearly have to wait for over a decade to reap the benefits of this rise. But the volatile nature of the cryptocurrency market could also boost the price of SHIB.
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