Will Shiba Inu Coin Reach $1?
Will shiba inu coin reach $1?: The price of Shiba Inu is currently trading at around $0.000029. With 549,063 Billion tokens in circulation. This means that if all of them were worth $1, then the coin would be worth $549 trillion! However, that is highly unlikely. The token is still extremely overvalued and reaching $1 would mean a massive restructuring of the global economy.
Shiba Inu Coin Current Statistics
The price of Shiba Inu has risen 5.80% in the past 24 hours. Its market cap is now at $14,686,036,770 and traded volume has jumped 36.38%. The success of the Shiba Inu is largely dependent on the growing community, as utility and use of the coin are less important.
| Project Parameters | Detail |
|---|---|
| Name of Project | Shiba Inu |
| Stock Symbol | SHIB |
| Analysis Date | 21 February 2022 |
| Current Price | $0.00002675 |
| Current Rank | 14 |
| Current Circulating Supply | 549,063.28 Billion SHIB |
| Total Supply / Max Supply | 589,735,030,408,323 |
| 24H Price Change | 5.80% |
| Market Cap | $14,686,036,770 |
| All Time High | $0.000080 |
| All Time Low | $0.000000000145 at time of listing on Coinmarketcap |
| Official Website | https://shibatoken.com/ |
From above states we can see that Shiba Inu eliminated 5 zeros in 2 years, which is a very big achievement in short time. Assuming the price of the Shiba Inu reaches $1, it’s unlikely that it will ever reach that level. This is because the market cap of the coin will have to be 590 trillion dollars to achieve this. This would be 650 times bigger than the market cap of Bitcoin and six times larger than the GDP of the world in 2021. Therefore, the question of will the Shiba Inu reach $1 is a bit of a lottery. The SHIB is already traded on more exchanges. That means it will be traded in more markets in future, which will help the currency increase its value.
The Shiba Inu was one of the most popular cryptocurrencies in just a short time, but its price has since dropped from $0.00008 since 28-Oct-2021 to $0.00002661 current price (Monday, 21 February 2022). This means that the price is dropped almost 34% after making all times high. Many supporters believe that it will hit $1 by 2025, which would make it the 2nd largest cryptocurrency in the world. However, it has yet to gain mainstream adoption. That said, the token’s popularity is a good sign for its price. In fact, if the current price is correct, the coin will soon be able to reach a high level.
The inflated price is mostly due to the hype surrounding the Shiba Inu. However, the price of the cryptocurrency has fallen by 34% in just a few months. That’s not enough to stop it from going up. The cryptocurrency will need to be widely accepted before it can reach this level. If it does, the market cap will be around $550 trillion, which is more than 650 times bigger than Bitcoin. In other words, it won’t hit $1 anytime soon.
The Shiba Inu is a great investment, but it has also shown tremendous volatility. Although the price surge was a one-time event, it was extremely risky. Many people have lost a lot of money with the Shiba, and the price will fluctuate based on hype and popularity. This means that it’s impossible to predict when the coin will hit $1. The answer to the question of will the Shiba Inu reach $1 is still unknown.
While the price of the Shiba Inu has fallen in recent months, the market is still far from a dollar. To reach 1$ the price have to elimite 4 zeros, which is looking great target. The current price of shiba Inu is around $0.00002661 per token. The token is likely to rise again in the next four years. Its volatility in the past year, it still has an amazing amount of potential.
