Altcoins

Here’s Why Shiba Inu (SHIB) Price Can Hit $0.001 level

Written by: Nidhi Kolhapur

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Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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Apr 14, 2022

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The Shiba Inu (SHIB) cryptocurrency has been steadily climbing since the previous day, after having been steadily dropping for several weeks. Shiba Inu was up 4 percent to $0.00002661 per token at the time of writing, after reaching as high as $ 0.00002977 in the previous 24 hours. 

Robinhood has added Shib and when the news was announced on April 12, the price of the token increased by more than 20%. However, it is still 69.90 percent below the coin’s all-time high of $0.00008845, which it reached in late October of last year.

Shiba Inu to $0.001?

David Gokhshtein, the CEO of PAC Protocol, the founder of Gokhshtein Media, and a former U.S. congressional candidate, took to Twitter to express his thoughts on the Shiba Inu price’s potential. He believes the second-largest meme coin has the potential to reach $0.001, but not $1.

Gokhshtein tweeted that he doesn’t think Shiba Inu will ever hit $1, but that it might “touch” the $0.001 threshold. SHIB fans rebuked the influencer for taking this strategy, reminding him that the SHIB development team has yet to unveil an extra burn mechanism for the token.

The influencer previously stated that the biggest potential of Shiba Inu and its popularity is that it may draw a large number of amateur investors to the crypto market’s titans, Bitcoin and Ethereum.

His message was prompted by news that Shiba, along with SOL, MATIC, and COMP, will be listed on Robinhood before the site made an official announcement.

According to Gokhshtein, the trending ApeCoin will be the next coin offered by Robinhood.

In October of last year, Gokhshtein voiced a similar opinion about Dogecoin, the most popular dog-themed cryptocurrency.

He claimed at the time that DOGE had attracted a large number of individuals to Bitcoin.

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Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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