welcome everybody....
If you hold $SHIB, this article is a must read for you. I will logically evaluate the future price of the Shiba Inu and its potential 💫
Despite its impressive performance in the past couple of years, it is unlikely that the Shiba Inu will reach $1 or 50 cents today. Because the token supply in circulation is very large. However, this does not mean that the Shiba Inu does not have a lot of upside potential.
Although meme coins have been around since 2013, when Dogecoin was created, they only became mainstream in 2021. Their popularity is mostly due to the promotion of $DOGE by famous individuals like Elon Musk and Mark Cuban. With the hype around Dogecoin, other meme currencies have received some attention. But in the end, the main winners were Dogecoin and Shiba Inu.
💸Key takeaways for a $1 or 50 cent Shiba Inu coin💸:
At the current circulating supply of 589 trillion Shiba Inu coins, the market cap of the meme is $5.56 billion.
If SHIB reached $1 at current circulating supply and time the Shiba Inu would achieve a market cap of $589 trillion, which is not possible.
The only way for the price of a Shiba Inu to reach $1 or 50 cents is for the circulating supply to decrease significantly through a token burning program. This is what the currency team actually does.
The Shiba Inu team recently launched Shibarium, a second-layer solution that burns SHIB per transaction, which could significantly reduce SHIB supply over time.
CoinCodex's price algorithm predicts that SHIB could rise more than +292% by the end of 2025 and +456% by 2030.
🌿Shiba Inu Token is a meme coin created in August 2020 by an anonymous person named Ryoshi and developed by lead developer Shytoshi Kusama🌿
Its name is based on the Shiba Inu dog found on Dogecoin, and they are both similar. The only significant difference was that the creators built Shiba Inu on the Ethereum network. Although it was launched in 2020, it became popular in 2021 after Vitalik sold 50 trillion SHIB tokens and donated the proceeds to the India Covid Fund.
🚀SHIB rose more than 85,000,000% within a year and reached an all-time high on October 28, making it the most prominent example of a massive rally in cryptocurrency history🚀
Its meteoric rise has many speculating whether it could rise further. In this article, we will discuss the odds of the Shiba Inu reaching key price milestones and explore SHIB's price forecast.
So the short answer to whether a Shiba Inu coin can cost 50 cents is “🔥NO🔥”. The main limiting factor is the circulating supply of SHIB, which, at current amounts, would produce a market cap of about $294.5 trillion if the memecoin were to reach the $0.50 mark.
We will acknowledge that this answer could change significantly in the future between 2030 and 2035. Some believe that the circulating supply of SHIB will increase significantly with increased use of the Shibarium Layer 2 network, which burns SHIB per transaction. There is no indication that the burn rate will be enough to push the price of the Shiba Inu to 50 cents. However, the SHIB burn could still contribute to the Will the Shiba Inu Coin Reach 50 Cents?
🔥 Buying 20 million tokens now and storing them puts you in the year 2030 and 2035 in the area of potential wealth. Certainly, the Shib coin has huge potential to reach 0.008 and 0.01, and certainly to reach $0.05 to make you a rich man. 🔥 .... So in the future, the Shib coin will reach 0.50. You will own $10 million through your investment today, and if you reach $1, you will own $20 million... through your purchase today of 20 million shib tokens.
This is not far from the Shib currency, which has proven its worth and reached record levels within one year and is still continuing with burning operations.
🔅The conclusion🔅
And unless something fundamental changes, like its size, a Shiba Inu won't be able to reach $1, or even $0.50 for that matter. But it may reach 1 cent after a few years of token burn and deflation mechanisms implemented with Shibarium. Anyway, Shiba Inu is one of the best cryptocurrencies under one cent, thanks to its vibrant ecosystem and strong community.
When it comes to cryptocurrencies, price unpredictability is always an important factor. Therefore, it is essential to research any cryptocurrency before you decide to invest in it.
Attention-grabbing:⛔🖐
I respect all people and wish goodness and success to all people. I am open to discussing your opinions in the comments, and I will be a very happy person when I am the reason in my article for earning you a sum of money, even if it is $1. I respect negative comments that are not consistent with my point of view
To everyone who liked my article and finds it close to logic, I hope you share the article with others because I am also happy when I am the reason for people to avoid loss and raise awareness about investing in digital currencies.
Followed in more detail by my next article.
Thank you..... Please discuss with me in comments
