Can Shiba Inu( SHIB) Reach to $1 🦊

Examining the Possibility of Shiba Inu Reaching

$1: A Detailed Analysis

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In this analysis conducted on March 5, 2024, Shiba Inu (SHIB) is currently ranked 10th with a market cap of $25.34 billion and a circulation supply of 589.29 trillion. Notably, its maximum supply is undisclosed, posing a negative aspect. The theoretical price per Shiba is approximately $0.000043, derived from the current market cap and supply.

To reach $1, Shiba's market cap would need to be an astronomical $589.29 trillion, an unattainable figure considering the entire crypto market's total cap is $2.52 trillion. Reducing the supply to match the current market cap is equally implausible.

Despite aggressive coin burning efforts by the Shiba Inu team, evidenced by the monthly burn of 9.9 billion Shib, reaching $1 seems unachievable. The calculations suggest that burning 589.26465 trillion Shiba would take an impractical timeframe of 4,960 years.

In conclusion, while a $1 valuation appears impossible, holding Shiba may still prove beneficial due to the team's committed coin burning strategy. Stay informed for updates and consider long-term growth opportunities.

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