The meme coin market has experienced a significant downturn over the past month, with Shiba Inu (SHIB) undergoing a notable correction. SHIB's value dropped by 30% in the last 30 days, currently trading at $0.00001345 (approximately 0.0011 INR). Despite this decline, the SHIB community remains optimistic about its future potential.
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Key Factors Driving SHIB’s Potential Growth
Current Market Position and Sentiment
While U.S. investors hope for SHIB to hit $0.01**, Indian crypto enthusiasts are targeting the **1 INR** milestone. Achieving this would require SHIB to surge to **$0.012. According to Telegaon, this milestone might not occur until after 2035, possibly around 2040.
Growing Adoption in India
Indian investors are showing increasing interest in SHIB, with platforms like WazirX reporting it as the most-traded cryptocurrency—even surpassing Bitcoin (BTC) and rivals like Dogecoin (DOGE) and Pepe (PEPE). Ethereum (ETH) trailed further behind in trading volume.
Trading Dominance on WazirX:
Top-Traded Tokens (March 2024):
- Shiba Inu (SHIB)
- Bitcoin (BTC)
- Dogecoin (DOGE)
- Pepe (PEPE)
- Floki (FLOKI)
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Security Incidents and Risks
Despite its popularity, SHIB has faced security challenges. In a high-profile hack, 5.4 trillion SHIB (worth $100+ million) was stolen from WazirX, marking one of the largest crypto thefts involving the meme coin.
FAQs About SHIB’s Future
1. What will SHIB’s price be in 2030?
Predictions vary, but Telegaon estimates a gradual rise, potentially reaching $0.012 (1 INR) post-2035, contingent on adoption and market trends.
2. Why is SHIB popular in India?
Its low entry price and active trading on platforms like WazirX make it accessible to retail investors, fueling demand.
3. Can SHIB hit $0.01?
Achieving $0.01 would require a 74,000%+ increase from current levels—a long-term possibility but dependent on massive adoption.
4. Is SHIB a safe investment?
Like all cryptocurrencies, SHIB carries volatility and risk, as evidenced by exchange hacks. Diversification is advised.
5. How does SHIB compare to Dogecoin?
Both are meme coins, but SHIB’s larger supply and ecosystem (e.g., Shibarium) differentiate its growth potential.
Final Thoughts
Shiba Inu’s journey to 1 INR hinges on sustained adoption, security improvements, and broader crypto market recovery. While short-term volatility persists, its grassroots support in markets like India could fuel long-term gains. Stay informed and invest wisely!
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