It is unlikely that Shiba Inu (SHIB) will reach 1 cent in the short or medium term.
Here’s why:
- Massive Supply: SHIB has a circulating supply of over 589 trillion tokens. To reach $0.01 (1 cent) with this supply, its market capitalization would need to be around $5.89 trillion, which is a staggering amount that exceeds the current total value of the entire cryptocurrency market, [according to Binance].
- Burning Alone Isn’t Enough (Currently): While token burning is a strategy employed to reduce the circulating supply and potentially increase value, the current burn rate would take an extremely long time to make a significant impact on SHIB’s price. Some estimates suggest it could take centuries or even millennia at the current pace to reach $1, [notes The Economic Times].
- Reliance on Speculation and Hype: SHIB’s price is significantly influenced by market sentiment, social media trends, and speculative demand, much like other meme coins. While a strong community (“Shib Army”) supports it and drives engagement, a prolonged increase in value needs more than just hype.
- Massive Increase in Token Burns: If the burn rate were to increase drastically and consistently, it could reduce the circulating supply enough to make a $0.01 target more plausible, though it would still require significant time and effort.
- Broad Adoption and Real-World Utility: If SHIB gains widespread adoption for real-world applications (e.g., payments, DeFi, or within its metaverse project, [according to 99Bitcoins] ), this could increase demand and drive its value.
- Sustained Crypto Bull Market: A strong, sustained bull run in the broader cryptocurrency market, especially if driven by positive sentiment and innovation, could potentially boost SHIB’s price alongside other altcoins.
Most analysts believe that reaching $0.01 is a very ambitious goal that will likely take a long time, potentially decades, and will require a perfect storm of factors including massive token burns, widespread adoption, and a very favorable market environment.
Important Note: The cryptocurrency market is highly volatile and unpredictable. Past performance is not indicative of future results, and investing in Shiba Inu or any cryptocurrency carries inherent risks. Investors should always do their research and only invest what they can afford to lose.
What would happen if Shiba Inu coin reach $1?
I can help with that. Supply might be the biggest barrier to $1
There are 589.25 trillion tokens in circulation, so at the current price of $0.000013, Shiba Inu has a market capitalization of $7.5 billion. Simple math suggests that a price of $1 per token would result in an eye-popping market cap of $589.25 trillion.