Shiba Inu (SHIB) enthusiasts have long held ambitious hopes for the token’s price to reach significant milestones, such as $0.001, $0.01, or even $1. However, the reality of achieving these price targets, given the current circulating supply, is highly improbable due to the extreme market capitalization that would be required.
Despite the bearish trends in the crypto market, including SHIB’s initial drop to $0.00001291 after a 6.21% decline over the past week, proponents of the meme coin continue to predict substantial price gains.
Some suggest that SHIB could eliminate several decimal places and trade at $0.001 or higher. However, the issue with such predictions is the market valuation that SHIB would need to attain to reach these price levels.
Shiba Inu at $0.001: The Market Cap Challenge
In August, Armando Pantoja, a member of Benzinga’s crypto advisory board, predicted that Shiba Inu could surge 72 times its current value, potentially reaching $0.001. He cited a bullish RSI divergence and stated that SHIB had entered an ideal buying zone, projecting a 7,193% increase.
With over 589 trillion SHIB tokens in circulation, a price of $0.001 would result in a market cap exceeding $589 billion, more than twice Ethereum’s current value. This makes such growth highly unrealistic in the near term. Similarly, some predict Shiba Inu could reach $0.01 or $1, including Lucie, the content marketing specialist for the project. While this belief is shared by many, only a few have provided a clear timeline for when they expect it to happen.
For SHIB to reach $0.01, its market cap would need to skyrocket to $5.89 trillion, which is more than five times Bitcoin’s current market value. The notion of SHIB achieving a $1 price is even more extreme, as this would require a market cap of $589 trillion.
For comparison, the total estimated global wealth is $454 trillion, meaning that a $1 price point for Shiba Inu would necessitate a market value greater than the total wealth of the entire world. This makes the idea of SHIB reaching $1 not only improbable but also unrealistic.
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The Scale of Growth Needed
Shiba Inu (SHIB) needs to increase by over 7.7 million percent to reach $1. While SHIB’s historical price surge from its all-time low has been impressive, replicating such a massive growth rate in the future is highly unlikely.
Even prediction platforms like Telegaon, which forecast SHIB hitting $1, suggest a timeline extending to 2050, nearly three decades away. Such long-term projections, though intriguing, are purely speculative and offer no guarantees of future performance.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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The post Why Shiba Inu (SHIB) May Never Reach $1, $0.01, or $0.001 appeared first on Times Tabloid.
