(source). Currently trading at $0.000020, the, For starters, it has no real value. Thousands of mining machines (rigs) are used by independent miners across the globe to keep the network functioning. Though it expects Shiba Inu prices to carry on with an uptrend, their analysis indicates the highest that SHIB token prices can reach $0.000028 by December 2025. Dogecoins current supply is 132 billion coins, with about 5 billion new coins being added per year. (. How possible is this Cardano . To add to this list, coin burn is unlikely to provide the benefit SHIB holders expect or hope for. Bitcoin, Dogecoin is a standalone cryptocurrency. There is little indication to believe that the burn rate will be sufficient to propel the price of Shiba Inu to 50 cents. A single SHIB coin is . No one expected but now Shiba Inu changed landscape of meme coin niche by following footstep of Dogecoin. Jack Ma, Elon Musk, Edward Snow, Chamath, cathie wood, Changpeng Zhao and jack dorsey tweeted when shib will explode to reach 1 cent or $1 in 2021. Shiba Inu is one of the most popular cryptocurrencies out there. The purpose of Shibarium is to drastically reduce transaction fees. SHIB is a monetary token on the Ethereum network. Though Ethereum founder Vitalik Buterin was able to burn over 410 trillion SHIB coins in 2021 -- Shiba Inu's founder gifted roughly half of SHIB's 1 quadrillion token supply to Buterin -- future burn events won't come anywhere close to this level. We also can see that we will get Shiba Inu at a cheaper rate than what is now. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. Before the last 2021 crypto market rally went up in smokes in December, particularly at the height of the Shiba Inu rally, some highly optimistic crypto price forecasters had indicated that it might reach $1 by the turn of the decade. At its absolute peak, BTC had a market capitalization of $1.27 trillion. Ironically, the catalyst that brought Shiba Inu to the limelight was Dogecoin, which Shiba Inu was meant to replace. But will the gains last and help lift Shiba Inu to $0.01? There is a 0.977 correlation between the price of Dogecoin and Shiba Inu in the last seven days, and as meme coins, both tokens have had similar price performances. The. These are some of the questions that every medium to long-term cryptocurrency investor is asking right now. For those of you keeping score at home, this sort of return allows for an investor to double their money, on average, about once every seven years. Sean Williams has no position in any of the stocks mentioned. What would it take for Shiba Inu to rally close to 8,900% and hit $0.001 in 2023? Some do not even believe that Shiba Inu has what it takes to reach $1 by 2026. On Wednesday, the price of Shiba Inu coinwhich trades as SHIBsurged 33% to reach an all-time high of $0.00005478. But you would have to burn more than 99% of today's supply to reach a level that would support significant gains. The token is trading 87% down from its all-time high price, so people buying SHIB at current price levels are truly buying the dip. However, the SHIB burn could still contribute to making SHIB a good investment. How high can Solana go? 1 zero needs 10% of coins burned. Its not a product, not a platform, unlike Apple, Tesla, or Microsoft. As it happens, Shiba Inu first spurred these hopes when it skyrocketed by over 1,069% to its all-time high (ATH) of $0.00007924 back in late October 2021, only to drop 86.75% since then, at press time changing hands at the price of $0.00001137, as per data retrieved on March 3. This is a big win for Shiba Inu and its investors. Invest better with The Motley Fool. On the Ethereum network, SHIB is a monetary token. This is a fancy way of saying it's just a payment coin -- and there are countless digital currencies that could be used as a payment tool. Finally, if Shiba Inu were to reach $0.001, it would have a market value of nearly $550 billion. With an estimated 549 trillion SHIB coins still in circulation, per CoinMarketCap.com, a big burn event would be needed to pump up the value of each remaining token. While it might be difficult to decipher with so many zeroes following its decimal point, Shiba Inu gained an almost unfathomable 121,109,489% in under 10 months. Since the token runs on Ethereum, it's subject to the slow speed and often high transaction costs of that blockchain. Our algorithm predicts significant up-and-down price movementin Shiba Inu's future. The consent submitted will only be used for data processing originating from this website. We can expect 1 cent mark probably in year 2022. Are you lookingfor a chart analysis toolthat doesnt distract you with community messages and other noise? For more than a century, the stock market has been one of the greatest wealth creators on the planet. 1$ SHIB Price Possible? This could make Shiba Inu one of the leading cryptos to explode in 2023. Its not only the pioneer but also has the most prominent crypto following in the world. Let's take a closer look. Shytoshi Kusama, the developer, tweeted on December 24 that Shibarium is nearly impossible to show up before the end of the year due to the holiday periods. Check outGoCharting! Read Also: Is Shiba Inu (SHIB) Worth Buying? SHIB rose by over 85,000,000% within a year and hit its all-time high on October 28, making itthe most prominent example of a monumental bull run in crypto in recent years. Keep track of your holdings and explore over 10,000 cryptocurrencies. If more tokens are burnt, it will increase demand as supply dwindles. Its an Ethereum-based smart-contract cryptocurrency, comparable to Binance Coin (BNB), Tether (USDT), Chainlink (LINK), USD Coin (USDC), TRON (TRX), and others. The SHIB community is robust on Reddit, Twitter, Facebook (Meta), YouTube, and other social media platforms. The possibility of such price action taking place is theoretically impossible, given that the global GDP for all countries is just around $100 trillion. On the Ethereum network, its another ERC20 token. Lets see how this market cap stacks up against other financial products and see whether it makes sense. Let's elaborate. Will Shiba Inu prices rise again? As a result, the price per token is extremely lowat the time of writing, 1 SHIB is only worth $0.00001110. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. We know top market exchange also interested to bringing shiba on their platform after seeing huge spike in community. Shiba Inu is of course not the only contender in the meme coin sector. Its current circulating supply is about 550 trillion tokens. Its absurd that the total market cap of SHIB will be more than Bitcoin, Ethereum, Apple, Tesla, and other valuable companies when SHIB is nothing but an Ethereum based ERC20 token. The Shiba Inu coin price rose by 5% on the day, and it continued to increase as NowPayments also incorporated the coin as a payment channel for e-commerce platforms. Shibarium is a layer-2 blockchain project currently under development. New Uptrend 2023? The launch -- whether it happens then or later -- clearly could drive Shiba Inu higher. From there also . Secondly, analysts are conscious of the impracticality of the price leap that Shiba Inu needs to make if it is to reach $10 by 2026. SHIB can be transformed into a utility token by minimizing its supply in distribution. Shiba Inu (SHIB) will never hit $0.10 or 10 cents since it is not commercially viable. Shiba Inu's coin supply totals 549 trillion. Initially, the project will use the SHIB token to facilitate the purchase of Shiba Lands, which are made up of NFTs. Named after the quirky breed of Japanese hunting dogs, Shiba Inu Coin ( SHIB-USD) has surged from $3 billion in market cap to over $30 billion in the span of a few weeks. For more context on why its so unlikely anything could boost SHIB to a penny, lets take the example of Bitcoin. Unfortunately, Shiba Inu (SHIB) will never reach $0.10 or 10 cents because it is financially illogical. We look at relevant market data and examine potential the catalysts behind SHIB's long-term growth. Shiba Inu has a circulating supply of 549.063 Trillion SHIB tokens. In September, 1.5 million people searched for "Shiba Inu coin," believe it or not. For example, he predicted that Bitcoin would reach a peak of $69,500 in November 2021, which is . Click here to get a 10% discount on your first payment (monthly or yearly)! The whole cryptocurrency market cap, including all coins and tokens, is less than $2 trillion. Even reaching lower price milestones, such as $0.01 or even $0.001, seems very difficult. According to the figure above, for SHIB to attain a market size of $54.9 trillion, the overall market cap of Shiba Inu must be 549 trillion x $0.10 = $54.9 trillion. Therefore, according to simple reasoning, the SHIB coin will never even reach a valuation of $0.10 or 10 cents. Apple, Tesla, Google, etc., are precious companies because they make excellent products that consumers use and love. At the moment, no one believes that Shiba Inu will reach $10 in the near future, and certainly, no one believes it will reach $100 in our lifetime. This is a major development because the primary criticism directed at Ethereum is its increased gas fees and low latency functionality. It indicates that the Shiba Inu (SHIB) currency has no autonomous mining network. Chipotles first investment in bitcoin Microsoft is a company that specializes in (MSFT), Amazon is a company that sells books (AMZN), The Total Market Capitalization of the Worlds Stock Exchanges. There is a lot of optimism within the crypto community that Shiba Inu prices will resume the climb and continue rising into the near future. The United States entire Gross Domestic Product (GDP) is about $20 trillion, whereas Chinas GDP is roughly $14 trillion, according to the Federal Government. After reaching its all-time high in October of 2021, the token went through an intense bearish phase that has brought the SHIB price 87% below its all time highs. Shiba inu market volume continue to grow following successful audit and other trading safety protocol. Learn More. The first decentralized cryptocurrency was. From our experience, we can confidently say, the long-term success of a cryptocurrency largely depends on technology and community. Shiba market cap volume is crossed billion worth and now heading towards setting half trillion worth if more investor continues to show same interest. Unless something fundamental such as its volume, changes, Shiba Inu cannot reach $1, or even 50 cents for that matter. The Shiba Inu project recognizes the potential of the virtual world and has launched non-fungible tokens to tap into its ecosystem. The price has recently dropped to $0.0000082. Shiba Inu Price Prediction: SHIB is Set To Explode? It's now the 13th biggest cryptocurrency by market value. Will Shiba Inu Reach 1 Cent? Oluwapelumi is a firm believer in the transformative power blockchain and crypto industry possesses to change the global financial landscape. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. SHIB is based on Ethereum ERC20. It defies logic that SHIBs market value is 54 times more than Bitcoins, 100 times greater than Ethereums, 27 times greater than Apples, 2.5 times greater than US GDP, or half of global GDP. Instead, its an Ethereum smart-contract based cryptocurrency, similar to Binance Coin (BNB), Tether (USDT), Chainlink (LINK), USD Coin (USDC), TRON (TRX), etc. While $0.001 might be a target SHIB holders like to dream about, it's far likelier Shiba Inu gets sent to the doghouse in 2023. Shiba Inu is a decentralized cryptocurrency that was launched in August 2021. At a $0.10 valuation, the total market cap of SHIB will be $54.9 Trillion, which is 2.5 times of US GDP, 54 times more than Bitcoin, 100 times more than Ethereum, 27 times more than Apple (AAPL), and 55 times more than Tesla (TSLA) market cap. Lets See The Next 5 Alternatives. In August 2020, when Shiba Inu made its debut, it was one of thousands of nondescript tokens looking to make a name for itself in the digital currency space. And it's climbed more than 44,000,000% this year. At a $0.01 valuation, the total market cap of SHIB will be $5.89 Trillion, which is 5 times more than Bitcoin, 10 times more than Ethereum, and 3 times more than Apple (AAPL), and 5 times more than Tesla (TSLA) market cap. Continue with Recommended Cookies. Despite its parabolic price jumps in the last few months, reaching $10 will be an uphill task. Token officially listed on top tier 1 exchange including Binance, Coinbase, Huobi, FTX and others. It is not anchored on unique blockchain technology - just hosted on, Price prediction websites, crypto experts, and even, website paints a rather grim future for the altcoin. But since they all remain confident that the SHIB token prices will continue rising in the foreseeable future, how far up do they then expect the token to reach by 2026? From the fundamental side of things, the Shiba Inu team is working on several products that are geared towards making SHIB a more attractive token to hold. Here's what the prospects look like for SHIB as it struggles to reach the one cent mark. Currently trading at $0.000020, the Dogecoin Killer will need to grow its value by 18 Million percent if it is to reach this target price. Shiba Inus biggest catalyst yet may be days away. In short, Shiba Inu (SHIB) will never hit $0.10 or 10 cents. As a result, Shiba Inu took off. The Shiba Inu coin, launched less than a year ago and named after the dog breed, is a cryptocurrency that trades as SHIB and champions itself as the "Dogecoin killer.". This could be similar to the run of Dogecoin itself. Another important figure in the Shiba Inu project is Shytoshi Kusama, who serves as the lead developer. Key among them is its incredibly high maximum token supply, its clear lack of intrinsic value (real or perceived), and an apparent lack of clear goal - it currently focuses on beating Dogecoin and not creating value or growing Shiba into a technologically advanced ecosystem. The hype surrounding Shiba Inu ( SHIB) is still there amid ongoing discussions on whether it faded away or not due to recent on-chain metrics. We can expect 1 cent mark probably in year 2022. Nevertheless, rumors have been swirling on social media that this public test is coming relatively soon. But many investors remain interested in the token and haven't lost hope in Shiba Inu's potential. Is Shiba Inu Price BULLISH? SHIB or DOGE: Is Shiba Inu better than Dogecoin in 2023? This News Confirms. To reach $1 shib would need to be 100 trillion, worth more than the value of every asset on the planet as of 2017 (80 trillion ish). Most probably between end of 2024 or even start of 2025. Further, Shibarium's launch was widely expected last year. Elon musk recently asked to reveal how much he holding Shiba token and he replied none. With momentum playing such a key role for digital currencies, the fear of missing out (FOMO) would be important. Shiba Inu is an ERC-20 token that's built on the Ethereum (ETH -0.43%) blockchain. The price of Shiba Inu increased significantly at the end of October. As an investor, we have to be impassioned. Following the massive drop, the price has gradually returned to normal. The more it is used for transactions, the higher the burn rate. With one Quadrillion SHIB tokens around, getting to $100 per token would mean creating an unutterable market capitalisation of $100 Quadrillion for the Shiba Inu network. All of this means Shiba Inu doesn't stand out from the competition. Shiba Inu Coin ON THE MOVE! Nicknamed the "Dogecoin killer," many. When the clock struck midnight on Jan. 1, 2021, investors had the opportunity to scoop up SHIB coins for just $0.000000000073. Before 2021, its trading volume was extremely low, less than $1,000 on most days. Shiba Inu (SHIB), a cryptocurrency project that started as a competitor to Dogecoin but which has since transformed into a veritable momentum engine, just made history by reaching a new. Gaming doesn't look as if it's going to differentiate Shiba Inu, either. But not a single price prediction we have come across shows the possibility of SHIB tokens selling for $10 any time soon. Although meme coins have been around since 2013, when Dogecoin was created, it was in 2021 that they became mainstream. Above prediction is based of average performance of shiba inu from past 6 months. That said, people keep actively asking whether the Shiba Inu coin price could keep eating zeros and reaching the cent figure. Shiba token burning program protocol has changed, as initially token was transferred to Ethereum founder wallet. Shibarium will provide a strategy for burning SHIB tokens. When SHIB was on the way up, many token holders were wondering if Shiba Inu will reach 1 cent. Shiba Inu's price history. Instead, this is due to several features unique to the token. The Motley Fool has a disclosure policy. Because Shiba Inu is constructed on Ethereum, these considerations have slowed significantly the SHIB networks development. This is especially true for Shiba Inu, which has only been around since the summer of 2020 and therefore doesnt have a long price history that would help us understand how SHIB tends to behave across crypto market cycles.