Is Shiba Inu's $1 Dream Really Possible 🦊
The idea of Shiba Inu ($SHIB ) reaching $1 is highly unrealistic due to several reasons:
1. Market Challenges: With over 590 trillion tokens, SHIB would need a market cap of $590 trillion to hit $1, which is beyond the total global economy.
2. Token Burns: Developers are burning tokens to reduce supply, but reaching $1 would require reducing over 99.99% of SHIB's supply—a slow and community-driven process.
3. Utility and Demand: SHIB needs more utility and wider adoption to boost demand. Despite ShibaSwap, its real-world use is limited.
4. Comparisons: Like Dogecoin, SHIB’s path to $1 is tough. Meme coins are highly volatile and driven by market sentiment.
5. Realistic Goals: While $0.01 or $0.001 might be possible with extensive token burns, $1 is far-fetched.
In conclusion, SHIB could see price hikes, but $1 is extremely unlikely due to its massive supply. Investors should manage expectations.
