LIVEIs SHIBA INU going to reach $1?
Let's analyze this scenario:
As of 10-03-2024,
- Rank: 10
- Market Cap: $25.34B
- Market Dominance: 1.01%
- Circulation Supply: 589.29T
- All-Time High: $0.0000885 (2021-10-28)
Based on the current market cap, each Shiba is worth $0.000043. To reach $1, the market cap would have to be $589.29 trillion, which is impossible given that the total crypto market is only $2.52 trillion.
Even if Shiba's supply is reduced to match the current market cap, which is $25.35 billion, it would still be unrealistic.
However, Shiba has a mechanism to burn coins on Shibarium's layer 2. In January 2024, 9.9 billion Shiba were burned. To hit $1, 589.26465 trillion Shiba would have to be burned. At the current rate, it would take 4,960 years.
Conclusion: $1 is very unlikely, but holding Shiba could still be profitable due to its aggressive coin burning strategy.
