Will Shiba Inu Coin Reach $1?

Will Shiba Inu coin reach $1: A price level of $1 would require a market cap of $580 trillion for Shiba Inu, which is completely unrealistic.

The crypto sector is as vast as it is complex. There now are more than 20,000 tokens for investors to choose from. Most of these remain unproven, providing little in the way of practical utility for users.

Many investors, inside and outside the crypto sector, have criticized Shiba Inu (SHIB) for just this reason. It’s a meme token that, like others before it, has relied on marketing and hype, sending valuation to unbelievable levels.

In 2021, this token briefly provided investors with an annualized return of more than 85,000,000% and hit an all-time high on October 28, making SHIB one of the top 10 coins by market cap and the most prominent example of a monumental bull run in crypto in recent years.

The party has ended, however, and the token is down nearly 90% from its 2021 peak of $0.000088. That said, it still is the 14th most valuable crypto and some enthusiasts still call for $1 price target.

Let’s see if that’s even possible. Before diving into the detailed analysis, we’ll have a basic overview of Shiba Inu.

Shiba Inu (SHIB) Overview

Latest Shiba Inu News

• Shibarium needs further work, particularly around holder count, processing time, resiliency, and reliability.

• BitPay, a leading crypto payment gateway, has partnered with Ramp Network to allow customers to purchase over 20 supported cryptocurrencies, includingSHIB, using Ramp Network checkout.

• Binance moved Shiba Inucoin out of its Innovation Zone on April 18. This decision indicates increased confidence in these projects’ long-term growth and sustainability.

• Shiba Inu has been listed in one more crypto exchange. BTCC exchange announced the listing of Shiba Inu (SHIB) on its exchange. BTCC is an excellent crypto exchange offering trading services in US, Canada, and many countries in Europe. It announced the listing of Shiba Inu on March 3rd, 2023.

Will Shiba Inu Coin Reach $1? Shiba Inu Price Prediction $1 Detailed Analysis

While it’s hard to pinpoint what Shiba Inu should be worth in the future, it’s much easier to identify levels at which this token will never trade.

As Shiba Inu’s price history shows, the cryptocurrency has never come close to even one cent, let alone $1.

The decline in 2022 is not why the Shiba Inu coin is unlikely to reach $1 dollar. Instead, this is due to several features unique to the token. Given that it is an ERC-20 token, i.e., it is compatible with the Ethereum blockchain, Shiba Inu already has some advantages over Dogecoin. But more than that is needed to reach $1 due to its humongous supply. Shiba Inu has a total supply of 1 quadrillion tokens. Its current circulating supply is about 589 trillion tokens.

At the time of writing, SHIB is trading at $0.000011 with a market cap of 6.4 billion. By simple calculation, to reach $1, Shiba Inu’s market cap would need to be $580 trillion. The possibility of such price action taking place is theoretically impossible, given that the global GDP for all countries is just around $100 trillion and the total global wealth stands at around $500 trillion. At its peak, the total cryptocurrency market cap was just slightly above $3 trillion.

Those who apply any sort of fundamental mathematics to their valuation models will see that such a valuation is impossible to obtain.

*using 580 trillion SHIB circulating supply as a basis

To sum up, as we can quickly deduct from the table above, the likelihood of the Shiba Inu price coming anywhere close to $1 at current levels of circulating supply is simply not feasible. Even reaching lower price milestones, such as $0.01 or even $0.001, seems very difficult. While Dogecoin has a high chance of reaching $1 in the future, we can’t say the same for Shiba Inu, at least not in its current state.

Another point against SHIB reaching $1 is its supply inflation – according to our data, the supply of Shiba Inu increased nearly 8% year-over-year, which makes the prospects of SHIB hitting a $1 milestone all the more unlikely.

The only way it could reach $1 would be a gargantuan reduction in the total supply of Shiba Inu tokens, and at the moment there’s no effective mechanism for doing that.

Though burning the SHIB token is a way to reduce the total supply and increase the SHIB price. For instance, if we burn 99.9999% of all the 589 trillion coins currently in circulation, the price would reach $1.11.

The burn can be lower if many of Shib’s plans like Metaverse, Shib Swap, and Payment partnerships all take off and consume a lot of these tokens. However, none of these are practical scenarios.

Burning 50% or 99.9999% Shiba Inu coins is impossible for a variety of reasons. Not all investors would be seeking abnormal returns, and some would be happy with much lower returns and would not be keen on burning their coins.

Will Shiba Inu reach $1 by 2025?

Looking at the data above, it is impossible for Shiba Inu to reach $1 by 2025.

Will Shiba Inu reach $1 by 2030?

Looking at the data above, it is impossible for Shiba Inu to reach $1 by 2030.

Then how high can Shiba Inu realistically go? Let’s move on to our Shiba Inu coin price prediction for 2023 and beyond.

Shiba Inu Price Prediction 2023, 2025,2030: How High Can Shiba Inu Realistically Go?

Detailed below is a brief overview of our Shiba Inu price prediction for the coming years, ensuring you have a rough idea of SHIB coin’s value potential:

Please know the figures are generated using our price prediction tool and in that matter, not a guarantee, that the actual price action will follow what we mentioned. Forecasts are not immune to changing circumstances and will be updated with new developments. Always do your own research and evaluate all necessary factors before making any investment.

Will Shiba Inu Coin Reach $1: Conclusion

Overall, if you’re making a Shiba Inu price prediction, the $1 price level is more or less out of the question. With the current circulating supply, Shiba Inu is unlikely to reach $1 any time soon.

Although Shiba Inu is an outstanding example of a meme coin success story, SHIB’s 589 trillion token circulating supply has rendered the notion of SHIB to $1 all but impossible—barring a sudden shrinking of coins in circulation.

The overall market cap of Shiba Inu has been fluctuating between $6 billion and $7 billion for the last couple of weeks. As we’ve shown, such a price level would imply a completely unrealistic market capitalization of $580 trillion for Shiba Inu, which is more than the combined value of Bitcoin, Ethereum, and all other cryptocurrencies (The market cap of Bitcoin which is above $20,000 is around $450 billion).

However, that doesn’t mean that Shiba Inu doesn’t have upside potential. Shiba Inu is one of the best cryptos under 1 cent to buy due to its vibrant ecosystem and robust community. If the crypto market enters another bull run, SHIB is likely to be one of the meme coins to explode. The Shiba Inu team is working on key products like Shibarium, and SHIB is positioned well thanks to numerous crypto exchange listings.

One popular and reliable exchange for you to buy SHIB is BTCC. You can check the links below to create an account on BTCC and start trading now.

What are BTCC’s specs?

Sometimes, users feel more comfortable working with an exchange if they know that the exchange has a footprint in the industry. BTCC has over 1.6 million registered users, and it has a trade volume (24H) of $21.19 billion.

BTCC is one of the best known exchange with over 12 years of stable and secure operating history focused on the Bitcoin and Ethereum, offering trading service in US, Canada, and many other countries in Europe. BTCC also supports tokenized futures service, allowing users to trade stocks and commodities futures with USDT as the margin.

Trading on BTCC begins with registration and log in, which only takes 30 seconds. New customers can now sign up here to get a welcome bonus of $10 USDT, and complete the KYC verification process to access all BTCC’s features and BTCC discount. Once verified, you can start trading SHIB now.

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