All of this means Shiba Inu doesn't stand out from the competition. The combined value of. Therefore, many investors are interested to learn whether will Shiba Inu coin reach 50 cents or not. Making the world smarter, happier, and richer. Even coin-burning efforts may not be enough to put a dent in the supply of about 549 trillion. The world doesnt even have enough money to push the price of SHIB to $1. Instead, this is due to several features unique to the token. This amount of market cap is virtually impossible to reach. Shiba Inu's performance in 2021 was spectacular, and many expected it to continue the same run the following year. That has crypto investors wondering if the. According to CoinCodexs forecast, SHIB will not be worth 1 cent in 2024. Theoretically and statistically, its not possible to do so now. Even when SHIB gets listed on Robinhood, I don't think it will help keep that kind of momentum going. Is it legit or a scam? Let's find out. But why is it so? When it comes to the cryptocurrency market, its current market capital rank is #14. 2023 CryptoGlobally, The Core Dao Mainnet is now live and available for use, marking a significant milestone in the development of blockchain technology., Do you want to use the Free Crypto Tax Calculator, the best crypto tax software for various countries including the United, Explore the exciting world of cryptocurrency and earn a competitive salary as a Crypto Community Manager. Shiba Inu Holder Transfers SHIB from Wallet to Exchanges: It is reported that Shiba Inu investor holding a huge number of SHIB token in Wallet 0xd6 has transferred around 182 billion shiba inu tokens to Crypto exchanges Gemini andCrypto.com. Shiba Inu is expected to reach 0 by Wallet Investor. With burns of 2-3% a year, this can even be faster and the market cap requirements could be much lower. Could Shiba Inu Help You Become a Millionaire? The enabling factors are community engagement, execution plans for the future, and the likely growth of cryptocurrencies in the future. Other indicators are also dropping for the coin as its trading volume of $217M went down by 50% in that same period. The potential breakdown below the $0.000012 support will trigger the bearish-descending triangle pattern. However, its total supply is 1 Quadrillion coins. Read This, Buying Bogecoin (BOGE) Everything You Need To Know, How Much Is 1979 One Dollar Coin Value? Comment on This Story Click here to cancel reply. In this article, we will explain why SHIB can never hit 50 Cents. But why is it so? All of this means Shiba Inu isn't the best choice for a "make-me-a-millionaire" portfolio. with regard to the token burning mechanism, but first, it must reach 1 cent. But it should set you on the right track for great returns over time. Shiba Inus biggest catalyst yet may be days away. Shib burn can help boost the tokens price. This growth can occur only if there is an active burn program. So, it is not practically possible for Shiba Inu to reach the price of 50 cents like dogecoin. If Shiba Inu surpasses this resistance level and holds its price above it, it can soon jump to the next price level of $0.0000167. The biggest risks are government regulation, poor execution of Shiba Inu plans, and general deterioration in the macroeconomy. Here's the bottom line Despite its impressive performance in the past couple of years, Shiba Inu is very unlikely to reach $1 or 50 cents because its circulating token supply is simply too large. Therefore, it is essential to research any crypto-currency before deciding to invest in it. Unlike Bitcoin, which some companies offer as payment in place of a traditional salary, or Ethereum, which can be used to buy real estate on website like Propy, DOGE and SHIB lack any real-world utility. But it wasnt until 2021 that it was worth a penny. Conflux Price Prediction 2023-30: Will CFX reach $100? Since the token runs on Ethereum, it's subject to the slow speed and often high transaction costs of that blockchain. Here are the scenarios of how Shiba Inu could reach different milestones: The Shiba Inu team announced that Shibarium will be launched soon, details here. Unless something fundamental, like its volume, changes, Shiba Inu wont reach $1, or even 50 cents for that matter. The price of SHIB will always be at most 10 cents. Shiba Inu gave back some of those gains last year, when it fell along with the entire cryptocurrency market. Constantly improving himself in this industry for more than three years, he has amassed immense knowledge regarding his niches of writing tech and gaming articles. Many people think of Shiba Inu as an alternative to Dogecoin. However, the current burn requirements seem next to impossible due to the intense competition among cryptocurrencies to stand out in the crypto market. How do you identify whether its a scam or a good project? Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. 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. They are called meme coins. Having such a high market cap is impossible for Shiba Inu to reach now or in the future. If you continue to use this site we will assume that you are happy with it. 2021. This site uses Akismet to reduce spam. Can Fetch.ai reach $10, $100? Learn how your comment data is processed. Shiba Inu is showing strong potential as it has been holding its bullish trade in a consolidated range since its breakout. 2023 Money Morning All Rights Reserved. That said, people keep actively asking whether the Shiba Inu coin price could keep eating zeros and reaching the cent figure. There is a 0.977 correlation between the price of Dogecoin and Shiba Inu over the past seven days, and as meme coins, both tokens have had similar price performances. Its price can rise anytime as more of it gets burnt in the market. If you are a beginner or non-technical person and dont know, Do you want to make money with cryptocurrency in 2023? Our experts who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. The answers to some of these questions are: Ans: Since a Bitcoin halving is expected at the start of 2024, you can say that the price of Shiba Inu coins will go as high as $0.01 by the end of 2024. Given that the main target of the Shiba Army is to push the price of Shiba Inu to 1 cent. site: MoneyMorning.com, By simple math, if the SHIB coin were to reach $1, that would mean it has a market capitalization of $550 trillion. To put that into perspective, there are more than 32 million businesses in the United States alone. This means if Shiba does reach even 1 cent, its market cap will be larger than that of BTC. The forecast of the price of the SHIB cryptocurrency with respect to the goal of 50 cents on the dollar is clear: it is a value that this token it won't reach in 2022, and unless the math changes, it won't do it in the following years either. Samsung to reduce shipments of chips based on older manufacturing nodes, favoring 3nm, Youll be able to delete the last 15 minutes of your Chrome history with a shortcut, Ether.Fi protocol raises $5M to decentralize staking, Bitcoin Delivers Major Bullish Signal for First Time in Over a Year. With the words Cryptocurrency and Bitcoin becoming household names, more and more people are interested in investing in crypto. The answer to Will Shiba Inu reach 50 cents? is no because it does not have an independent mining system. Shiba Inu has a very large supply, which is why the team needs to create a burning mechanism to burn tokens on a continuous basis. That means people have to put in way much more money, collectively, just to raise the price. Home. The MACD line is also supporting the current uptrend of Shiba Inu as it moves parallelly with the price trend. The only significant difference is that the creator built Shiba Inu on the Ethereum network. And having a large quantity in circulation with a short average holding period doesn't help either. Apecoin Price Prediction 2023, 2025, and 2030: Will Apecoin reach $100 and $1000? Almost every cryptocurrency lost more than half its value in 2022, and the price of SHIB dropped by about 80%. Given our aggressive simulation, the optimistic estimate for Shiba Inu 1 cent is 2050. The Shiba Inu coin received a lot of attention after that. 458 votes, 259 comments. Protected by copyright of the United States and international treaties. This could be similar to the run of Dogecoin itself. However, the forecast accuracy is likely to be low to moderate. That's when it soared a mind-boggling 45,000,000%. This is because this cryptocurrency was introduced as a joke. If the worst bear market of 2023 ends and the market hit a tipping point, the Shiba Inu could rise to $0.00005 by the end of the year. Answer (1 of 5): This is definitely something many shib holders and crypto researchers discuss time and again, and for good reason. Sun Token Price Prediction 2023, 2025 and 2030: Can SUN Reach $1? This is a big deal in enhancing the intrinsic value of Shiba Inu. That's because much of its rise is spurred on by hype. Of course, Shiba Inu, trading at a fraction of a cent, still could rise enough to deliver a decent gain to investors who take a massive stake in the token. Free Crypto Tax Calculator USA, UK, India, Canada, and more! If you invested in Shiba Inu coins, tell us how much you invested in the comment section below. This solution, Shibarium, should strengthen this popular meme token and could boost its value. The coin was never intended to hold its value. Another point against SHIB reaching $1 is its supply inflation according to our data, Shiba Inu supply has increased nearly 8% year-over-year, making SHIBs prospects of reaching a $1 milestone all the more unlikely. Shiba Inu's (SHIB) price prediction. Shiba Inu token is a meme coin created in August 2020 by an anonymous individual called Ryoshi. Currently, Shiba Inu has a market cap of $7 billion with a current circulating supply of 550 trillion. By simple calculation, if the SHIB coin were to reach $1, that would mean that it has a market capitalization of $550 trillion. Solana Price Prediction Today. As analyzed earlier, this will depend on the Shiba Inu Burn, the Implementation of Shiba Inu Plans, and the sustenance of the community. Although meme coins have been around since 2013, when Dogecoin was created, it was in 2021 that they became mainstream. Macroeconomic factors are external factors (Interest Rate, Inflation, Value of the Dollar) that can influence the price of Shiba Inu. 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. When the Shiba Inu Metaverse lands become popular, the price of the Shiba Inu coin will rise to an all-time high. They are constantly creating more and more SHIB, so the supply is always rising. POLKADOT etc. They were given a large sum of money as sponsorship to promote the pump and dump coins. Therefore, it is possible that Shiba Inu will also reach 1 cent. Let me explain why. Quantity in circulation with a short average holding period does n't stand out in the United and... The following year Calculator USA, UK, India, Canada, and the market cap impossible! 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