Shiba Inu has become a hot topic in the cryptocurrency world, with a loyal community hoping it will achieve the elusive $1 mark. But is this dream realistic, especially as we approach January 2025? In this article, we will explore current trends and key factors that could influence SHIB's journey to $1.
How Has the Price of Shiba Inu Changed Recently?
The current price of Shiba Inu (SHIB) is $0.00002119, with a 24-hour trading volume of $465.60 million. Its market capitalization is $12.48 billion, accounting for 0.38% of the market share. In the past 24 hours, the price of SHIB has increased by 2.13%.
Shiba Inu reached its all-time high of $0.00008819 on October 28, 2021. In contrast, its lowest price ever recorded was on November 28, 2020, at $0.0000000005637. Since the peak, the lowest point of SHIB was $0.000005821 (cycle low), while the highest point during the recovery was $0.00004501 (cycle high). Currently, market sentiment towards Shiba Inu remains pessimistic, with the Fear & Greed Index at 66 (Greed).
The circulating supply of Shiba Inu is 589.26 trillion SHIB, with a total maximum supply of 589.74 trillion SHIB. The annual supply inflation rate is -0.01%, indicating a reduction of 44.79 billion SHIB over the past year.
Will Shiba Inu Coin Reach $1 By January 2025?
Shiba Inu (SHIB) has captured the community's imagination with ambitious goals and continuous innovation, but whether it can reach $1 by January 2025 is a complex question. The current price is $0.00002119, and to reach $1 would require a massive price increase of nearly 4,717,361%.
With a circulating supply of 589.26 trillion tokens, achieving $1 would push SHIB's market capitalization to an unattainable level of $589.26 trillion, significantly higher than the combined GDP of the world's largest economies. This makes the $1 target very unlikely within a certain timeframe.
That said, the Shiba Inu price has shown impressive performance and growth. Over the past year, it has grown 97%, outperforming 71% of the top 100 cryptocurrencies. The upcoming launch of "SHIB: The Metaverse," which includes over 100,000 virtual plots for building and monetizing, brings tangible utility to the SHIB ecosystem.
This project could attract new investors and increase long-term value, laying the groundwork for stable price growth. Furthermore, SHIB is trading above the 200-day simple moving average, a bullish indicator, and has a negative inflation rate of -0.01%, suggesting its token supply is gradually decreasing over time.
Despite these positives, several barriers make the $1 target seem unrealistic. For SHIB to achieve such a level, a significant reduction in token supply or an unprecedented inflow of capital is needed.
The current circulating supply is simply too high to support a $1 price without pushing its market cap into an unreachable zone. Moreover, while the Metaverse initiative adds utility, SHIB still lags behind major cryptocurrencies like Bitcoin in terms of adoption and industry integration. It is also worth noting that SHIB is still 76% lower than its all-time high of $0.00008819, reached in October 2021. Even returning to that peak would require a 316% increase, which is challenging but much more realistic than reaching $1.
Assuming the SHIB price maintains an annual growth rate of 97% and benefits from increased adoption through the launch of the Metaverse, this coin could realistically reach a price range of $0.000042 to $0.000084 by January 2025, increasing 2 to 4 times from its current value.
While this would be a significant achievement, the SHIB price is still far from the $1 mark. Achieving $1 would require unprecedented scenarios, including widespread adoption, a surge in capital inflow, and a strong supply reduction, none of which seem feasible in the coming year.
While Shiba Inu is poised for steady growth thanks to innovation and community support, the $1 target remains distant in the current market and economic context. Investors should approach with realistic expectations, focusing on the incremental benefits that SHIB can achieve as it continues to build utility and strengthen its ecosystem.
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