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Can Shiba Inu Reach $0.01?

TheMotleyFool

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After some big valuation pullbacks, Shiba Inu (CRYPTO: SHIB) now trades at less than $0.000012 per token, has a market capitalization of $6.5 billion, and ranks as the 15th most valuable cryptocurrency. In order to reach $0.01 per token, SHIB's price would need to climb more than 80,000% from its current level.

Given that the meme-powered cryptocurrency soared 46,000,000% in 2021 and still trades up over 35,000,000% from the low it hit in November 2020, the gains needed to hit the penny mark might not sound too farfetched. Is the meme token set to rebound and make investors rich on a march toward $0.01?

Image source: Getty Images.

Source Fool.com

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