$Will Shiba Inu go to $1?
Let’s first look at its fundamental aspects.
- Date: 03/05/2024
- Rank: No. 10
- Market capitalization: $25.34 billion
- Fully diluted market capitalization: $25.35 billion
- Market dominance: 1.01%
- Circulation offer: 589.29 T
- Total supply: 589.53 T
- Maximum offer: Not mentioned
- All-time high: $0.000088450814267 (2021-10-28)
- All-time low: $0.000000000081646 (09/01/2020)
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Here we see that $SHIB is The max supply is not mentioned, which is a negative, but the total supply: 589.29T and the market cap: $25.34 billion.
So, price per Shiba: ($25.34B ÷ $589.29T) = $0.0000430008993873.
If Shiba were to reach $1, its market cap would have to be $589.29 trillion, which is never possible because we know that the total market cap of the crypto market is $2.52 trillion.
On the other hand, if Shiba's supply is reduced from $589.29 trillion Shiba to $25.35 billion Shiba, equivalent to Shiba's current market cap, then Shiba would reach $1, but we know this is never possible 😐
However, 70% of Shiba's supply base transaction fees paid on the Shibarium layer 2 network are used to burn Shiba.
As of January 2024, Shiba Inu has burned 9.9 billion Shib.
🫂Remember: A lot of work goes into providing you with the best investment items. Your generous advice would strengthen our mission and help us work even harder so that you can give the best investment advice.#TrendingTopic: #SHIB/𝗨𝗦𝗗𝗧 #SHIBA✅🚀 #shibainuOctober14, 2024
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