#Will Shiba Inu ever reach $1? Let's delve into its fundamental aspects:

- As of 03/05/2024:

- Ranked No. 10

- Market capitalization: $25.34 billion

- Fully diluted market capitalization: $25.35 billion

- Market dominance: 1.01%

- Circulating supply: 589.29 trillion

- Total supply: 589.53 trillion

- All-time high: $0.000088450814267 (2021-10-28)

- All-time low: $0.000000000081646 (09/01/2020)

Calculating the price per Shiba: ($25.34B ÷ $589.29T) = $0.0000430008993873.

For Shiba to reach $1, its market cap would have to soar to $589.29 trillion, which is unrealistic considering the total market cap of the crypto market is $2.52 trillion.

Alternatively, if Shiba's supply were drastically reduced from 589.29 trillion to $25.35 billion, matching its current market cap, then reaching $1 would be conceivable. However, this scenario is highly improbable.

Nevertheless, it's worth noting that 70% of Shiba's supply base transaction fees on the Shibarium layer 2 network are used to burn Shiba. As of January 2024, Shiba Inu has burned 9.9 billion Shiba.

Remember: Providing sound investment advice requires meticulous effort. Your generous support fuels our mission and motivates us to deliver top-notch investment insights.

#TrendingTopic #SHIB /USD #SHIBA ✅🚀

#shibainu