Will Shiba Inu Coin Reach $1? The Answer Is 'Likely Impossible”

Shiba Inu Coin is more than just a meme coin. Unlike many of its counterparts, SHIB has found use cases on the recently launched Shibarium blockchain.

Shiba Inu (SHIB) coin, named after the popular meme dog and launched in 2020, quickly became a favorite among investors thanks to its low price and potential for high returns. But as the cryptocurrency market booms and SHIB’s value continues to rise, many holders are wondering if the coin can ever reach $1.

To answer this question, we need to look at the numbers behind SHIB’s price and supply. When SHIB was first launched, there were one quadrillion tokens in circulation. Despite significant burns, including the famous action by Ethereum co-founder Vitalik Buterin, the current circulating supply is still around 589.27 trillion SHIB tokens.

Now, let's do some math. At the time of writing, SHIB’s price is about $0.00001532. For the coin to reach $1, its market capitalization would need to increase to about $600 trillion.

To put this in perspective, Bitcoin, the leading cryptocurrency, has a market cap of about $1.3 trillion. For SHIB to reach $1, its market cap would need to be 460 times higher than Bitcoin’s current value, or about 250 times the entire cryptocurrency market's value.

Even if we look ahead to 2030 or 2050, SHIB reaching $1 seems highly improbable. The core issue lies in the massive number of SHIB tokens in circulation. Even with active token burning efforts by the community, reaching the level of burn required for a $1 valuation is extremely unlikely. To put this into perspective, the supply would need to be reduced by 99% to bring the market cap below $6 trillion at a $1 price point. This level of reduction is highly improbable at the current burn rates.

While 2050 may seem far off, and inflation might reduce the relative value of a dollar, the current SHIB burn rate is nowhere near sufficient to make a $1 valuation realistic. The burn rate would need to increase dramatically and consistently over decades to make a significant dent in the supply.

Given these figures, it’s highly improbable for Shiba Inu coin to reach $1 in the foreseeable future. A more realistic question might be whether Shiba coin can reach 1 cent?

Shiba Inu Coin Reaching $0.01 Seems More Realistic

While $1 seems out of reach, the possibility of Shiba Inu coin reaching $0.01 is more plausible, though still challenging. As of this writing, Shiba Inu price trades at $0.00001532. To reach $0.01, SHIB would need to increase its current value by 615 times.

Shiba Inu has performed well, increasing by 72.0% in the past year. However, reaching $0.01 would require sustained growth and significant reduction in token supply through burns.

How Could Shiba Inu Coin Reach $0.01?

The Shiba Inu ecosystem has been expanding rapidly, with several key developments that could potentially drive the project’s growth and value.

Successful Launch Shiba Eternity Game

One of the most notable additions is the Shiba Eternity game, the first mobile game from the Shiba Inu project. This game boasts top ratings on both Google Play and Apple’s App Store. The Game burns 5% of its profits in SHIB tokens, reducing supply over time. Shiba Eternity is still under active development, with new features planned to enhance gameplay.

ShibaSwap Development

Another crucial development in the Shiba Inu ecosystem is ShibaSwap, a decentralized exchange (DEX) built on the Shibarium blockchain. ShibaSwap offers a range of functionalities including token bridging between Shibarium and other blockchains, as well as staking opportunities within the Shiba Inu ecosystem.

Bury, a staking mechanism, allows SHIB holders to earn yields in ETH, SHIB, and BONE – a governance token for the Shiba Inu ecosystem. BONE holders can participate in ecosystem governance by voting on proposals. Additionally, another token called LEASH grants access to exclusive perks, including early access to NFT mining, land sales in the upcoming metaverse project, and enhanced rewards for liquidity providers on ShibaSwap.

You May Also Great Emphasis on SHIB Burning Tokens

Token burning is another significant aspect of the Shiba Inu project’s strategy. This process involves sending tokens to an unrecoverable wallet address, effectively removing them from circulation forever. Both the project team and the community actively participate in burning SHIBA coins to reduce the overall supply. On peak days, up to 28 million tokens have been burned, although the burn rate tends to be inconsistent.

The Shiba Inu community has even initiated a petition on Change.org, requesting Binance to burn 1% of SHIB trading fees daily. While token burning is unlikely to push Shiba Inu coin to reach $1 in

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