The probability of SHIB reaching $1 or even $0.01 depends largely on several factors. Here is a detailed analysis:
1. SHIB reaches $1
Circulating Supply: SHIB currently has a circulating supply of around 589 trillion tokens. For SHIB to reach $1, its market cap would need to reach:
$589 trillion, which is more than the entire world's GDP and is very unrealistic.
Massive token burn required: In order for $1 to be possible, a significant percentage of SHIB’s supply would need to be burned. Even burning 90% of its supply would leave 58.9 trillion tokens, requiring a market cap of $58.9 trillion – still a long way off in today’s market.
2. SHIB reaches $0.01
More realistic:
For SHIB to reach $0.01: Its market cap would need to reach $5.89 trillion, assuming no further token burns. While that’s still high, it’s closer to the size of the entire cryptocurrency market in a bull market.
To reduce the required market cap, continuous token burns through mechanisms like Shibarium and community initiatives should be necessary.
Key Factors That May Affect SHIB Price
1. Burning Tokens: Burning billions or trillions of SHIB tokens on a continuous basis is crucial to reducing supply and increasing scarcity.
2. Adoption and use:
Shibarium (SHIB's layer 2 blockchain) and its ecosystem (DeFi, NFTs, metaverse projects) must attract real-world usage to justify higher valuations.
3. Community enthusiasm:
Like most meme coins, SHIB relies heavily on its community to maintain continued interest.
4. Cryptocurrency Market Trends:
A strong bull market could push SHIB closer to $0.01, but $1 is still almost impossible without drastic changes.
conclusion
$1: Nearly impossible due to the huge market cap required.
$0.01: Possible in the long run with massive burn, increased usage, and a favorable market environment. However, it is still far from reach without significant progress in these areas.
