Shiba Inu is an ERC-20 token that's built on the Ethereum (ETH -0.43%) blockchain. More are nonetheless not convinced that Shiba Inu has what it takes to reach $10 in the next 5 years. This was a reach even in the bull market, and is extremely unlikely now. It was met with much skepticism after traders witnessed the massive rise and steep decline of Dogecoin who came before the Shiba Inu coin. 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. And according to the CoinMarketCap list of the largest cryptocurrencies, Shiba Inu - the Dogecoin Killer - is ranked in the top 15 cryptocurrencies with a market capitalisation of $11 Billion. The most you can do with SHIB tokens is transfer them from one wallet to another. Can SHIB double again? Top 10 Cryptocurrencies That Will Explode, Shiba Inu has a circulating supply of 549.063 Trillion SHIB tokens. Instead, you should be considering the coin or tokens market capitalization, as thats what will actually allow you to get an idea of how it compares to other crypto assets in terms of size. Things can be line people will pay less or even no attention to meme typed coins in 2025. This question seems to come up on social media multiple times per day. Coin Price Forecast predicts Shib will trade at $0.00004266 at the end of 2022. Will Shiba Inu reach 1 cent? Additionally, transaction fees can soar during these periods of congestion. You can use Shiba Inu to pay at certain merchants. Shibarium is a layer-2 blockchain project currently under development. A similar analysis by Wallet Investor and CoinPriceForecast websites is a tad more optimistic. Most meme coins have a very large circulating supply, which results in a low price per unit. If youre a speculator, you can sometimes leverage this to your advantage. Sometimes, we refer to such cryptocurrencies as penny cryptos. Will Shiba Inu Reach 1 Cent? Shiba Inu (SHIB) will never hit $0.10 or 10 cents since it is not commercially viable. This is a Layer 2 solution that could solve some of Shiba Inu's problems. (source). Finally, if Shiba Inu were to reach $0.001, it would have a market value of nearly $550 billion. It's somewhat similar to a publicly traded company enacting a stock buyback. Like before, the main restrictive factor is SHIBs circulating supply, which would, at current amounts, produce a market cap of $275 trillion if the meme coin were to reach the $0.50 mark. SHIB at. 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. Most crypto players offer the exact same things. 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. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. now, question will it continue to highlight that top gainer list and will Shiba surpass Dogecoin and other crypto for best investment of year 2021. Here's Why 589.6 Trillion Is the Key Number, Beyond Dogecoin and Shiba Inu -- These 3 Cryptos Are Better Buys, 3 Cryptocurrencies to Avoid Like the Plague in February, 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? Simply put, it's vanishingly unlikely that Shiba Inu will ever reach 1 cent, let alone any higher. Even the thought of getting here is simply unfathomable. Again, as with the $1 price milestone earlier in the article, the short answer to whether the Shiba Inu coin can reach 50 cents is no. SHIB. We and our partners use cookies to Store and/or access information on a device. There were 1000 trillion SHIB (1 quadrillion) in the start, but roughly 451 trillion were locked up or burnt forever. Can Shiba Inu Reach $1? To make the world smarter, happier, and richer. This is impractical. At its peak on Oct. 27, a single SHIB token set investors back $0.00008841. The SHIB price is currently $0.000007949 at the time of writing. Manage Settings 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. We still suggest to do your own research before investing because there more option in crypto industry that really have great utility that stays forever. But will it be hard for Shiba Inu to reach $10? Tax on profits may apply. There are still some coins that are worth investing in. How will Shiba Inu Perform in Q1 of 2023? The current price of Shiba Inu is $0.000012, and the 24-hour trading volume is $171 billion. In reality, you shouldnt be looking at a coin or tokens price per unit when trying to see if it is undervalued or overvalued. No, Shiba Inu will probably never reach and sustain a $10 token valuation. As investors, we must be passionate about our investments. 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. We also can see that we will get Shiba Inu at a cheaper rate than what is now. Is it expected to reach $10 or more in the next five years? Conservative Prediction: Can Shiba Inu reach $1 in 2023? There is a mining mechanism in place for these cryptos. As for less tangible catalysts, SHIB would need a historic amount of social media buzz to drive its token price to $0.001. Making the world smarter, happier, and richer. What is theShiba Inu price prediction, and is the SHIBA Inu on track to reach $1 soon? Trillion is correct. Answer (1 of 38): I'm erring toward more optimistic predictions and saying $1 capped. That's when it soared a mind-boggling 45,000,000%. Shiba currently holding 11th position in market cap ranking right after Dogecoin and difference between Dogecoin & Shiba market cap is around $9 Billion USD. SHIB or DOGE: Is Shiba Inu better than Dogecoin in 2023? 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. There is little indication to believe that the burn rate will be sufficient to propel the price of Shiba Inu to 50 cents. Its why Bitcoin is the largest cryptocurrency. Making the world smarter, happier, and richer. It would be worth more than the entire cryptocurrency market today. 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. They have alluded as much on the official Shiba Inu website stating that Nicknamed the DOGECOIN KILLER, this ERC-20 ONLY token can remain well under a penny and still outpace Dogecoin. But many investors remain interested in the token and haven't lost hope in Shiba Inu's potential. And if the uptrend that the token has posted in October 2021 is anything to go by, Shiba Inu can be expected to resume its price rally soon. It indicates that the Shiba Inu (SHIB) currency has no autonomous mining network. Buy These 2 Stocks in 2023 and Hold for the Next Decade, Warren Buffett's Latest $2.9 Billion Buy Brings His Total Investment in This Stock to $66 Billion in 4 Years, 2 Stocks That Are About to Make Their Shareholders Richer, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. The Numbers are IN! SHIB Price Prediction, As we can quickly deduct from the table above, the likelihood of the Shiba Inu price coming anywhere close to $1 at current levels of circulating supply is simply not feasible. Its why they are Trillion dollar company. Shiba Inu gave back some of those gains last year, when it fell along with the entire cryptocurrency market. The volatility of crypto markets makes it impossible to determine what SHIB would be worth even in the next 24 hours. Lets See The Next 5 Alternatives. To reach $0.10 shib would need to be 10trillion, aka the most valuable asset in history. Why the sudden change of heart, though? Before we get started, however, lets take a brief look at the story of the Shiba Inu project and its journey towards the top of the crypto markets. To add, only 715 merchants on online business directory Cryptwerk were accepting SHIB as a form of payment, as of January 2023. For example, some people that are looking to invest in crypto for the first time avoid Bitcoin because 1 BTC is too expensive, even though its possible to buy as small a fraction of Bitcoin as youd like. Meme coins, in particular, had to accept even greater losses. Even though many crypto investors dismiss meme coins outright, the fact remains that SHIB is the 13th largest crypto asset by market capitalization, surpassing the likes of Litecoin, Polkadot and TRON. The coin reached a high of $0.00003018 back in April. Yes, its Trillion. With the hype around Dogecoin, other meme coins enjoyed some interest. SHIB, on the other hand, is a cryptocurrency based on ERC20 tokens. Token officially listed on top tier 1 exchange including Binance, Coinbase, Huobi, FTX and others. Shiba Inu will definitely reach 10 cent in 10 years alot of investors are moving in Meanwhile, major cryptocurrencies exchanges have them on their platform.. Buy and hold for the said 10 years 1 David Turner Former Litigation Partner (Ret.) So, it is possible for Shiba Inu also to reach 1 cent. Don't Miss: Could Shiba Be A Millionaire-Maker Coin? From our experience, we can confidently say, the long-term success of a cryptocurrency largely depends on technology and community. What would it take for Shiba Inu to rally close to 8,900% and hit $0.001 in 2023? As we dig in, Shiba Inu is the largest token held by the dollar value among the largest 100 ETH whales. While on our last post we wanted to remind everyone that BONE ? Dogecoins current supply is 132 billion coins, with about 5 billion new coins being added per year. Shibarium is the foundation for all of Shiba Inu's other potential ecosystem ventures. Its meteoric rise has made many speculate whether it could even rise higher. But over the past decade, cryptocurrencies have turned this traditional moneymaking strategy on its head. $1 means almost 1803651% up from price $0.00005544 USD. Shiba inu coin revealed plan to hit $0.10 Shib token news. To Shiba Inu (SHIB) reach $0.10, the total market cap of SHIB has to be 549 Trillion x $0.10 = $54.9 Trillion. According to Shiba Inu developers, Shibarium will be focused on providing cheap and fast token transactions for metaverse and gaming use cases. 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.. The possibility of such price action taking place is theoretically impossible, given that the global GDP for all countries is just around $100 trillion. It could happen if enough SHIB token is burnt. When Will Shiba Token reach $10 USD? Its another ERC20 token on the Ethereum network. Will Shiba Inu prices rise again? Even reaching lower price milestones, such as $0.01 or even $0.001, seems very difficult. However, he was working with dogecoin developer to bringing real utility in dogecoin ecosystem. As an investor, we have to be impassioned. Shiba 2024 Price Forecast in INR: Shib Coin is predicted to touch 0.006 by the end of 2024. 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. You might actually LOVE this Answer! SHIB Burn Rate Turns Out Extremely Low In February Even during SHIBs all-time high in October 2021, when the token was trading at $0.0000881, SHIB would have needed to increase in price by 113x to hit a price of $0.01. The GDP of the entire planet earth is around $80 Trillion. Instead, this is due to several features unique to the token. Lets see how this market cap stacks up against other financial products and see whether it makes sense. Currently trading at $0.000020, the, For starters, it has no real value. Almost every cryptocurrency lost more than half its value in 2022, and the price of SHIB dropped by about 80%. As an outcome, one of Shibariums objectives is to use Ethereums secure network as a layer-2 solution to improve Shiba Inus scalability. For Shiba Inu, the one clear-cut catalyst that provides make-or-break potential in 2023 is Shibarium. Long-term, a currency has no intrinsic worth. 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