$Will Shiba Inu go to $1?
Let’s first look at its fundamental aspects.
- Date: 03/05/2024
- Rank: No. 10
- Market capitalization: $25.34 billion
- Fully diluted market capitalization: $25.35 billion
- Market dominance: 1.01%
- Circulation offer: 589.29 T
- Total supply: 589.53 T
- Maximum offer: Not mentioned
- All-time high: $0.000088450814267 (2021-10-28)
- All-time low: $0.000000000081646 (09/01/2020)
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Here we see that $SHIB is The max supply is not mentioned, which is a negative, but the total supply: 589.29T and the market cap: $25.34 billion.
So, price per Shiba: ($25.34B ÷ $589.29T) = $0.0000430008993873.
If Shiba were to reach $1, its market cap would have to be $589.29 trillion, which is never possible because we know that the total market cap of the crypto market is $2.52 trillion.
On the other hand, if Shiba's supply is reduced from $589.29 trillion Shiba to $25.35 billion Shiba, equivalent to Shiba's current market cap, then Shiba would reach $1, but we know this is never possible .
However, 70% of Shiba's supply base transaction fees paid on the Shibarium layer 2 network are used to burn Shiba.
As of January 2024, Shiba Inu has burned 9.9 billion Shib.
