$Will Shiba Inu hit $1? Let's break it down:
- As of 05-03-2024:
- Rank: 10
- Market Cap: $25.34B
- Market Dominance: 1.01%
- Circulation Supply: 589.29T
- All-Time High: $0.0000885 (2021-10-28)
Considering the current market cap, each Shiba is valued at $0.000043. Reaching $1 would need an impossible $589.29 trillion market cap, given the total crypto market is $2.52 trillion.
Even if Shiba's supply is reduced to $25.35 billion, the current market cap, it's still impractical.
However, Shiba burns coins on Shibarium's layer 2. In January 2024, 9.9 billion Shiba were burned. To hit $1, 589.26465 trillion Shiba must burn. At the current rate, it'd take 4,960 years.
Conclusion: $1 is unlikely, but holding could still benefit due to Shiba Inu's aggressive coin burning.
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