Shiba Inu (SHIB) has performed the most spectacularly during the 2021 bull run. The price of the asset has been falling since its peak in 2021. SHIB supporters and investors are not bothered by the asset’s below-average performance and are still chasing higher prices and a larger market cap.
SHIB currently has a market cap of $10.3 billion, making it the 13th largest crypto project. If SHIB’s market cap is to reach $100 billion, it would need to grow by 870.87%. Considering that there are about 589 trillion SHIB tokens in circulation, if SHIB’s market cap reaches $100 billion, the price per SHIB token would be $0.000169.
When will the market value of Shiba Inu exceed 100 billion US dollars?
SHIB is currently experiencing a downturn, but the asset has great potential to once again have an explosive rally like it did in 2021. For SHIB to rebound like it did in 2021, a few things need to happen.
One of the biggest catalysts for SHIB's rise in 2021 was Vitalik Buterin's massive burn. Buterin received half of the supply when SHIB launched and decided to burn 90% of the tokens he received. Similar burns could have a significant impact on SHIB's price.
As lead developer Shytoshi Kusama pointed out, burning alone cannot drive up the price of SHIB. Burning needs to be combined with high adoption to drive price increases.
Another factor driving the price of Shiba Inu is the general positive sentiment in the market. In 2021, most major crypto projects have hit new all-time highs. This has set the stage for a rebound in assets such as SHIB. Investors are taking risks and investing in newer, smaller projects.
Shiba Inu (SHIB) has performed the most spectacularly during the 2021 bull run. The price of the asset has been falling since its peak in 2021. SHIB supporters and investors are not bothered by the asset’s below-average performance and are still chasing higher prices and a larger market cap.
SHIB currently has a market cap of $10.3 billion, making it the 13th largest crypto project. If SHIB’s market cap is to reach $100 billion, it would need to grow by 870.87%. Considering that there are about 589 trillion SHIB tokens in circulation, if SHIB’s market cap reaches $100 billion, the price per SHIB token would be $0.000169.
When will the market value of Shiba Inu exceed 100 billion US dollars?
SHIB is currently experiencing a downturn, but the asset has great potential to once again have an explosive rally like it did in 2021. For SHIB to rebound like it did in 2021, a few things need to happen.
One of the biggest catalysts for SHIB's rise in 2021 was Vitalik Buterin's massive burn. Buterin received half of the supply when SHIB launched and decided to burn 90% of the tokens he received. Similar burns could have a significant impact on SHIB's price.
As lead developer Shytoshi Kusama pointed out, burning alone cannot drive up the price of SHIB. Burning needs to be combined with high adoption to drive price increases.
Another factor driving the price of Shiba Inu is the general positive sentiment in the market. In 2021, most major crypto projects have hit new all-time highs. This has set the stage for a rebound in assets such as SHIB. Investors are taking risks and investing in newer, smaller projects.