Inu Coin borrowed the mascot in 2020 when it launched the Shiba Inu coin, SHIB. SHIB quickly gained popularity. Will Shiba Inu Coin reach $1?
In this article, we will examine Shiba Inu tokenomics and use cases to understand more about the token’s long-term potential. Unlike most other meme currencies, SHIB has a use case on the newly developed Shibarium blockchain. When will Shiba Inu coins reach one dollar, and is it even possible? Let us find out.
Is $1 the ultimate goal for Shiba Inu Coin?
Initially, SHIB had one quadrillion tokens. The US debt, in contrast, is close to $35 trillion. Based on the original supply, SHIB at $1 could pay out the US national debt roughly 29 times over.
However, the Shiba Inu community is aggressively burning tokens. Vitalik Buterin has already torched roughly half of the initial supply. As of this writing, the current amount of tokens in circulation is 589.27 trillion. Based on the present availability, SHIB at $1 could pay out the US debt roughly 17 times over.
It’s market capitalization is $9.57 billion. To achieve $1, it would have to rise to around $600 trillion. Bitcoin, the most valuable cryptocurrency, is valued at $1.3 trillion on the market. Accordingly, SHIB’s market capitalization would be about 250 times greater than the value of the whole cryptocurrency market ($2.41 trillion) or 460 times greater than Bitcoin’s present market capitalization.
$1 SHIB is not accessible. How far can a Shiba Inu jump, though? Can a Shiba Inu coin ever be worth a cent? That may make more sense.
The current price of SHIB is $0.00001627. Because SHIB is so cheap, some trading platforms—like eToro—sell it by the thousand, making it difficult to handle.
SHIB would have to grow its present value by 615 times to achieve $0.01. In the one-year chart, Shiba Inu performed better than Bitcoin after its price spike in March 2024.
Even though SHIB has increased by +45.37% over the last year, $1 SHIB doesn’t seem to be within reach anytime soon. Despite the fact that SHIB generated millionaires from modest investments in its first year when it surged by 8,766,010%, such performance is improbable given the necessary market capitalization.
Will a $1 Shiba Inu Coin Achieve in 2030?
The primary barrier to achieving $1 is still SHIB’s supply. It would be necessary to cut the amount of tokens drastically. Even if you burn 99% of the current 589.52 trillion SHIB supply, your market cap would still be higher at $5.8952 trillion than it is now for Bitcoin ($1.3 trillion).
Let’s examine some achievable Shiba Inu price projections instead, supposing cautious token burning.
Even though our study for SHIB places the trading range significantly below $1 or even $0.01, it nevertheless shows sizable potential returns for 2030:
- Low price: $0.000027 (+64.43%)
- Average price: $0.00003 (+82.70%)
- High price: $0.000033 (+100.97%)
Will a Shiba Inu coin be worth $1 in 2050?
Because of the quantity of tokens in circulation, SHIB is unlikely to reach $1 in 2030 or 2050. Even though the community is actively destroying tokens, it is unlikely that more than 99% of the token supply will ever be burnt.
A market capitalization of less than $6 trillion would need a 99% reduction in supply. A dollar probably won’t be worth as much in 2050 because that is a long way off. Even in 2050, the present burn rate falls short of what is required for SHIB to reach $1.
Conclusion
In ten years, will a Shiba Inu coin be worth $1? Is Shiba Inu ever going to make a dollar? It doesn’t seem realistic to achieve $1 with the current supply of over 589 trillion tokens. For Shiba Inu’s future, a $0.01 penny pricing objective seems more reasonable.
However, even getting to $0.01 from the present pricing will require a large number of token burnings in addition to increased SHIB token usefulness. Even if these goals are now unattainable, if the Shiba Inu development team keeps delivering on its objectives for the Shiba Inu ecosystem, we still anticipate strong performance from SHIB over the next years.
