Market analyst Luis Delgado (Del Crxpto) recently pointed out a historic achievement of Dogecoin to support his belief that Shiba Inu will rally to $0.01. In a post on X, Delgado highlighted how Dogecoin surpassed the $0.01 mark, starting from an opening price of $0.00056 in December 2013 and reaching a peak of $0.00232 a month later. Despite retracing to $0.0001 in August 2014, Dogecoin later experienced a historic uptrend during the 2017 bull run, eventually hitting a high of $0.01073 in December 2017. Delgado sees Dogecoin’s rise as a reminder that the impossible is possible in the crypto market.
Drawing from this sentiment, Delgado believes that Shiba Inu can also achieve a rally to $0.01. He has expressed confidence in this target multiple times and considers it a “certainty.” Delgado argues that once Shiba Inu surpasses $0.01, the general narrative will shift to considering $1 as impossible. The current circulating supply of over 589 trillion tokens poses a challenge for Shiba Inu to reach $0.01, as it would result in a market cap of $5.89 trillion, more than twice the current valuation of the entire crypto market. Despite the low probability, the crypto market has a history of surprising investors, and a significant burn event could potentially help Shiba Inu achieve this price level. However, Shiba Inu currently trades for $0.0000165, exhibiting a 4% decline this month.