It is highly improbable that Shiba Inu (SHIB) will reach $1 within 10 years.
Here’s why:
- Massive Circulating Supply: The primary hurdle for SHIB reaching $1 is its enormous circulating supply, currently sitting around 589 trillion tokens.
- Market Capitalization: For SHIB to reach $1, its market capitalization would need to be $589 trillion. This is significantly higher than the total wealth of every person on Earth, which was $454 trillion at the end of 2022, according to UBS. It’s also vastly larger than the market caps of major global economies and leading cryptocurrencies like Bitcoin and Ethereum.
- Burning Mechanism: While the Shiba Inu community actively employs token burning to reduce the supply, the current burn rate is not nearly enough to significantly impact the price in a reasonable timeframe. At the current pace, it would take an estimated 13,271 to 20,460 years to burn enough tokens to justify a $1 price based on the current market cap.
- Meme Coin Volatility: SHIB is a meme coin, and its price is heavily influenced by speculative trading and market trends. It has shown extreme volatility in the past, and its value is not primarily driven by fundamental utility or adoption.
- Competition: The cryptocurrency market is dynamic and competitive. New meme coins emerge constantly, and Shiba Inu’s dominance could be challenged by these newer tokens.
While reaching $1 is unlikely in the short-to-medium term, more modest price targets are considered plausible:
- 0.01 cents (1 penny): Some experts predict SHIB could reach $0.01 (1 cent) by no later than 2046 in the best-case scenario.
- Price predictions for the next decade:
– By 2030, predictions vary, but some sources suggest a possible range between $0.000023 and $0.000063.
– [Investing Haven] forecasts a peak price of $0.000141 before 2030, but only for a short period.
- Price predictions beyond 2030: By 2040, SHIB’s value could potentially reach $0.001 if it develops significant utility like NFTs.
While Shiba Inu has gained significant popularity and continues to evolve with initiatives like Shibarium and token burning, its current tokenomics make it extremely challenging to reach a $1 price point within 10 years. Investors should approach SHIB with caution, understanding the speculative nature of meme coins and focusing on realistic expectations for potential gains.
