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- Can Shiba Inu Reach $1?

Current Shiba Inu Data:
1. Market Cap: $8.96 Billion.
2. Total Supply: 589.27 Trillion SHIB.
Analysis:
To reach $1 per SHIB, the market cap of SHIB would need to reach the same value as the total supply, which is $589.27 Trillion ($589,270 Billion).
Comparison:
For comparison, Bitcoin’s current market cap (in 2024) is between $500-600 Billion, and Ethereum’s is around $200-300 Billion. To reach $1 per SHIB, SHIB’s market cap would need to be more than 580 times the current market cap of Bitcoin, which is highly unrealistic based on the current cryptocurrency market conditions.
Conclusion:
It is highly unlikely that Shiba Inu will reach $1 due to the very large supply of the coin. Even if there is a massive token burn or an unexpected event that greatly impacts the market, it will still be very difficult for Shiba Inu to reach this price.

Investing in cryptocurrencies like SHIB carries significant risks and you should always exercise caution and do thorough research before making any investment decisions.