While many SHIB enthusiasts predict a return of the Sunday, the facts show that a jump to $ 0.1 per SHIB is less possible than it might seem at first glance.

One of the biggest winners of the recent bull market, many investors are optimistic that the SHIB will recover significantly with the change of the current bearish market conditions. However, many are overly optimistic about the future of memecoin and are speculating extensively about its potential to reach the $0.1 level within the next year.

People who support the SHIB value of 0.1 dollars think that memecoin has gained a tremendous value of 8,914,728.26% since its launch in December 2020. The leap of #Shibainu into the league of the largest cryptocurrencies leaves some hopes that SHIB can reach $ 0.1 and surprise everyone. Underestimating the power of the global community gathered around the SHIB.

But a reality check reveals that a SHIB price of $0.1 is theoretically impossible. For the Memecoin project to have a chance of reaching such a high price, it will need to significantly change its supply dynamics and core Sunday attractiveness.

Breaking Down the Probability that the Shiba Inu Will Reach $ 0.1 By 2024

At the time of writing, SHIB is trading around $0.00000728, while maintaining a market capitalization of $4.92 billion. The current figures are a far cry from the token's all-time high price of $0.00008845 and the $43.5 billion market valuation reached in October 2021.

But the probability that the SHIB will reach $ 0.1 in 2024 or in the foreseeable future is almost zero. The reason is not far away. a price of $0.1 would increase Shiba Inu's market capitalization to $58.9 trillion, given the coin's total token supply of $589.59 trillion. At this stage, it is worth remembering that the global crypto market capitalization is only $ 1 trillion, and at the peak of the 2021 bull run, it only went up to $ 3 trillion.

Additional context arises from the consideration of nominal global October Gross Domestic Product (GDP). The global GDP measure measures the added value of goods and services created by all countries of the world. The nominal GDP of the world is worth $ 100 trillion, while the United States has roughly $ 25 trillion.

Therefore, a SHIB price of $0.1 would require memecoin to reach a market capitalization of twice the US GDP and more than half of the global GDP statistics. Such an outcome is absolutely unrealistic.

Can SHIB reach $0.1?

According to the current token supply, it is theoretically impossible for SHIB to reach $ 0.1. However, such a price can only be reached if the project significantly changes the token supply. For example, if the supply of SHIB drops to 1 trillion tokens, a price of $0.1 will only increase its market capitalization to $100 billion, making SHIB the third largest cryptocurrency based on current market valuations.

Sundays Dec, but it is worth noting that such a change in the token supply could lead to a big controversy among the SHIB community and potentially cause memecoin to lose its market appeal. An inflated token supply is usually a key feature of most memecoins; individuals are attracted by the expectation of holding millions, even billions of tokens that have less value in dollars compared to more established crypto assets such as Bitcoin #crypto2023 #Binance #ETH