If you own $SHIB, this article is a must for you. I will evaluate the price and potential of the Shiba Inu in the future in a logical way 💫
Despite their amazing performance in the past few years, the Shiba Inu is unlikely to reach $1 or 50 cents because the number of coins in circulation is so large. But this does not mean that the Shiba Inu does not have great potential to rise.
Although memes have been around since 2013, when Dogecoin was created, they only became popular in 2021. Their popularity was due to the promotion of $DOGE by famous people like Elon Musk and Mark Cuban.
With the hype around Dogecoin, other meme currencies have enjoyed some attention. But in the end, the big winners were Dogecoin and Shiba Inu.
💸Key points about the Shiba Inu coin reaching $1 or 50 cents💸:
Given the current number of Shiba Inu coins in circulation of 589 trillion, the meme has a market cap of $5.56 billion.
If the price of SHIB reached $1 at the current number of coins in circulation, the Shiba Inu would occupy a market cap of $589 trillion, which is not possible.
The only way the price of the Shiba Inu could reach $1 or 50 cents is if the number of coins in circulation was significantly reduced by a coin burning program.
The Shiba Inu team recently launched Shibarium, a second-layer solution that burns SHIB for every transaction, which could significantly reduce the number of SHIB tokens over time.
CoinCodex's price algorithm predicts that SHIB's price will increase by more than +292% by the end of 2025 and +456% by 2030.
🌿Shiba Inu Coin is a meme coin created in August 2020 by an anonymous person named Ryoshi and developed by lead developer Chitoshi Kusama🌿
Its name is inspired by the Shiba Inu dog on Dogecoin, and they are similar. The only big difference is that the creators built Shiba Inu on the Ethereum network. Although it was launched in 2020, it gained popularity in 2021 after Vitalik sold 50 trillion SHIB coins and donated the proceeds to the India Covid Fund.
🚀SHIB's price rose by more than 85,000,000% in one year and reached an all-time high on October 28, making it the most prominent example of a massive run in the history of cryptocurrencies🚀
Its meteoric rise has many wondering if it can rise even higher. In this article, we will discuss the possibilities of the Shiba Inu reaching significant price levels and explore the SHIB price outlook.
So, the short answer to whether the Shiba Inu coin can reach 50 cents is “🔥No🔥” The main limiting factor is the number of SHIB coins in circulation, which would produce a market cap of approximately $294.5 trillion if the meme coin reached the $0.50 level.
We'll acknowledge that this answer may change significantly in the future. Some believe that the number of SHIB coins in circulation will increase dramatically with increased use of the Layer 2 Shibarium network, which burns SHIB for every transaction. There is no evidence to suggest that the burn rate will be enough to push the price of the Shiba Inu to 50 cents. However, SHIB burning may contribute to its higher price.
🔅The conclusion🔅
Unless something fundamental changes, such as their size, a Shiba Inu cannot reach $1, or even 50 cents. But it may be as little as 1 cent.
