We cannot leave out Shiba Inu when discussing cryptocurrencies that have made investors millionaires. Ever since its launch, Shiba Inu has performed quite remarkably, rising by over a million percent. It generated buzz even in 2024, which was not its greatest year when its price went to $0.00002 in March. It is therefore not surprising that the crypto community expects much from Shiba Inu. As a result, there have been several forecasts lately that the token will skyrocket to $0.00005 by November. Although these forecasts seem interesting, three main elements will most likely stop them from coming true.
Three Factors at Play Against Shiba Inu (SHIB)
Excessive Supply
Shiba Inu started with one quadrillion tokens. Given the current token count, it will be challenging to observe an appreciable price increase. However, Shiba Inu started burning its tokens last August, with the highest burn coming from Vitalik Buterin, who was given half of the token’s supply when it launched. So Buterin sent 410 trillion SHIB, 90% of his token holdings, to a dead account. Shiba Inu still has approximately 589 trillion tokens in circulation, which indicates it has burned less than half. Before it reaches $0.0005, it must burn about 90%, which will take years.
Lack of Use Cases
As a meme coin, Shiba Inu mainly grows through hype, speculation, and community support. It has no specific real-world application, leading to high volatility. It has also lost most of its steam, especially with the introduction of new meme coins, especially as cat meme coins are gaining ground over dog-themed ones. Shiba Inu’s lack of a strong use case and its fall in popularity makes it difficult for the meme coin to soar.
Time Constraint
While mega rallies in cryptocurrencies are feasible in a short period of time, this is not necessarily the reality. November is simply a stone’s throw away; hence, it could be difficult to expect SHIB to rise from $0.000018 to $0.00005. Between January and May of 2021, Shiba Inu skyrocketed by 45000%; replicating that price movement is difficult given that 2024 has been a particularly slow year for SHIB. Besides its rally in March following Bitcoin’s (BTC) surge, it hasn’t made as much growth. Its year-to-date increase is about 150%; that’s practically about the same increase SHIB will need to get to $0.00005 by November. Even with the alt season, achieving that in just one month will take a miracle.
Reaching $0.00005
Of course, climbing to $0.00005 is not impossible for Shiba Inu (SHIB). With the right time frame and market conditions, SHIB will achieve this price point. Generally speaking, it will take longer for SHIB to get to that all-time high. So there’s little possibility of SHIB seeing $0.00005 in November.
Rexas Finance (RXS): Raised Over $4M Presale Funds
Meanwhile, Rexas Finance (RXS), a new cryptocurrency offering more than hype and speculation, has caught the attention of investors with its impressive real-world applications.
Simplifying and democratizing the process of tokenizing real-world assets, Rexas Finance fills a market gap by turning real-world assets (RWAs) like real estate and commodities and even intangible ones like intellectual property into tokens, providing easy global access, liquidity, and transparency.
With tokenization, investors can now access a market that was once closed off to small investors because of its high price. Now, investors can own a fraction of the business, tearing down the price barrier to empower. The platform’s tools play key roles in the real-world asset sector, providing solutions to real problems. The Rexas Token Builder provides an easy approach to tokenizing assets, and the Rexas QuickMint Bot lets you design and distribute tokens using your PC or smartphone. Other tools, including Rexas Gen AI, Rexas Launchpad, Rexas Estate, Rexas AI Shield, and Rexas DeFi, distinguish the platform with their unique value. In presale stage 4, Rexas Finance is selling for $0.60. Its unique selling point has spurred quick sales, resulting in around 4 million tokens sold thus far. At the next presale stage, RXS will sell for $0.70. Following RXS’s $0.20 launch, experts estimate the price will climb and provide notable returns for investors.
Conclusion
Given the present circumstances, Shiba Inu (SHIB) seems improbable to reach $0.00005 despite the speculations. But Rexas Finance’s (RXS) doors are open, so there are chances for both short—and long-term profit. Still in its presale stage, now is the best time to get in for maximum gains post-launch.
About Rexas Finance :-
Website: https://rexas.com
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The post How High Will Shiba Inu (SHIB) Price Climb in November 2024? 3 Factors That Might Hinder a Rise to $0.00005 appeared first on Crypto News Land.
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