Does Shiba coin have a future? For example, he predicted that Bitcoin would reach a peak of $69,500 in November 2021, which is . So then, why did SHIB jump so drastically recently? However, with the crypto market kicking 2023 off on a bullish note, weve seen some renewed interest in crypto assets, including meme coins. Even with all the money in the world, SHIB's price cannot be raised to 50 cents. Core DAO Mainnet Review: Is It the Future of Blockchain? Your email address will not be published. If the Shiba Inu team implements those effectively, the prediction accuracy will improve. Shiba Inu really . And that's not just because of fading interest. The Shiba Inu Tokens creator transferred half of the total coin supply to Ethereum founder Vitalik Buterin. Ans: Its highly unlikely that Shiba Inu coins will have a future. Shiba Inu Market Capitalization. The short answer is that nobody knows. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. All of this is to say that it's hard to predict just how high SHIB will actually go. It is very unlikely that the Shiba Inu coin will hit the $1 mark as it hasn't shown much growth unlike its Shiba Inu counterpart, Dogecoin. As the name suggests, Shiba Inu coins (SHIB) are a form of cryptocurrency introduced in August 2020. now ask the question to yourself Will Shiba Inu coin reach 50 cents?. Shiba Inu isn't a blockchain. However, many cheaper cryptocurrencies exist on the market, like Shiba Inu and DogeCoin. About Us; Staff; Camps; Scuba. .setZone(136136); While SHIB has some great momentum at the moment, the crypto does have its limitations. Its 274 times the worth of Bitcoin and Tesla, 550 times more than Ethereum, and 137 times more than Apple. It's even the second-biggest holding of Ethereum whales right now, according to Whale Stats. It may not even reach one cent. Even after investors burned billions of Shiba Inu tokens, its price didnt change much. But here's the problem: Shiba Inu actually doesn't offer anything more than the thousands of other cryptocurrencies out there. And that's Shiba Inu's biggest problem. Copyright 2023 CryptoGlobally | Powered by CryptoGlobally, Sandeep Nailwal to help India during the COVID-19 pandemic, How to do Fundamental Analysis On Crypto Projects, How to Become a Crypto Millionaire [2023], What is Metis Crypto? The only significant difference is that the creator built Shiba Inu on the Ethereum network. Ans: While initially marketed as a meme coin going against DOGE, the Shiba Inu Coin is expected to die by the end of 2023. But you would have to burn more than 99% of today's supply to reach a level that would support significant gains. The Motley Fool has a disclosure policy. But despite this drastic climb higher, the crypto isn't going to hit $0.50 anytime soon. There are many ways to do it! The cryptocurrency market has begun to thaw after a deep freeze throughout 2022. However, with the crypto-currency market starting 2023 on a bullish note, we have seen some renewed interest in crypto-assets, including meme currencies. Conversely, the Bollinger bands lower limit trades at $0.00001042, acting as a crucial support level for determining Shiba Inus future price fluctuation. Further, the regulatory environment should be favorable and not restrictive. If the cryptocurrency were to reach $0.01, its market value would top $5.4 trillion. Shib coin is selling for about $0.0000085 per coin with a market value of $3.4 billion, so there's still plenty of time to grow. There is little indication to believe that the burn rate will be sufficient to propel the price of Shiba Inu to 50 cents. Will Shiba Inu reach 1 cent? 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 FAANG Stocks Billionaires Are Selling in Droves and 1 They Can't Stop Buying, 3 Stocks That Could Join Apple, Microsoft, and Alphabet in the $1 Trillion Club, 1 Bargain-Basement Warren Buffett Stock Down 78% to Buy Before It Starts Soaring, 2 Growth Stocks That Can Turn $250,000 Into $1 Million by 2030, 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. If the Shiba Inu price increases by 50% annually it will take 16 years for Shiba Inu to reach 1 cent. However, price forecasts are not set in stone, as market conditions can change dramatically. It has the potential to change Shiba Inu Hodlers life if the team creates token utility within the metaverse, such as buying and selling NFT, land using Shib tokens, and the Play to Earn concept. And it only gets worse for Shiba Token. His coin gained a very huge marketcap because of hype without having the actual product. A big area for the community is given that in the year 2021, Shiba Inu had risen 60 times in 6 months, Can Shiba Inu reach 1 cent? As per our current simulation, Shiba Inu is likely to reach 10 cents in 35 years. Therefore, the answer to the question Can Shiba Inu reach 50 cents? is, unfortunately, no. Shiba just has too many coins to mean anything. Interestingly, the creator of Shiba Inu Coin transferred half of the total coin supply to Vitalik Buterin, the founder of Ethereum, and the other half threw away the key and locked it in Uniswap. Let me explain why. Conflux Price Prediction 2023-30: Will CFX reach $100? While the cryptocurrency market is highly volatile and often unpredictable, SHIB is still a relatively new coin and has not yet established a consistent track record of growth. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. size: 550x425 - 550 x 425 */ Can Shiba Inu Reach $1? Social Media Sentiment Trends: Ethereum vs Cardano vs Solana, Can Solana Reach $5000, $10000? Is Shiba Inu a Good Investment? Shiba Inu burn and whale action are also essential factors in determining the price of Shiba Inu. Save my name, email, and website in this browser for the next time I comment. It is financially illogical and mathematically impossible for the Shiba Inu coin to reach $1, so we cannot help but burn the token supply. The intraday trading volume of the Shiba Inu coin is $172.5 Million, indicating a 12% loss. However, burning SHIB coins will remain the same price, as it will increase only by a small margin. Although meme coins have been around since 2013, when Dogecoin was created, it was in 2021 that they became mainstream. But why is it so? Coins like Blur (BLUR), Shiba Inu (SHIB), and TMS Network (TMSN)TMS Network The prediction is currently expecting the Shiba Inu price to decline throughout 2023, before starting to recovery in early 2024 and eventually starting a big rally. If Shiba Inu aims to reach $0.5, it needs to execute an extreme burn of tokens and get to at least half of the current circulating supply, i.e., 275 trillion. That has crypto investors wondering if the Shiba Inu coin can reach the $0.50 milestone sooner than later. That abundance is part of the joke. However, due to the general decline of the crypto market, that hasnt come to pass. On 28 October, the token initiated a fresh upward rally and broke above its EMA-20 trend line at $0.000012, and continued its upward momentum further. However, according to Binance, "the top no 1, no 2 and no 5 wallets hold 50.5 per cent, 7 per cent and 3 per cent of total supply respectively". At its peak, the total cryptocurrency market cap was just slightly above $3 trillion. Rather, this is due to several unique features of the token. And the more accessible the coin is for traders, the more likely it is to be bought and sold, particularly if there's already a spotlight shining down on it. Will Shiba Inu reach 1 Dollar?Is Shiba Inu Dead. That said, people keep actively asking whether the Shiba Inu coin price could keep eating zeros and reaching the cent figure. FinanaceTeam.net is an enthusiastic platform that covers everything from the global finance sectors. That said there are some promising elements of Shib, This is why Shiba Inu is in our list of Best Cryptocurrencies to Invest in 2023. Its current outstanding supply is about 550 trillion tokens. The popular meme token soared about 45,000,000% back in 2021. Despite the cryptocurrency's $10 billion in market value, there are only 43 businesses that accept it as payment. Shiba Inu is a meme coin at the moment. This is a big deal in enhancing the intrinsic value of Shiba Inu. Shiba Inu has delayed the release several times over the past year. An anonymous person or group created these coins with the name of Ryoshi. However, since the crypto market is so volatile, nothing can be set in stone. Since then, many people have been wondering about its expected future prices especially since Ethereum founder Vitalik Buterin burned over 90% of his Shiba Inu holdings. Shiba Inu gave back some of. Therefore, Shiba Inu will not be a good investment choice. But this would require burning a significant amount of the token for the price to rise to 1 dollar. The same answer also applies to questions like will Shiba Inu coin reach $1? and Will Shiba Inu coin reach $10?. Shiba Inu may even touch $1 if the current circulating supply of 550 trillion is burnt at a rate of 90%. In fact, it is impossible to predict the price of an asset 40 years from now. By Money Morning Staff Reports, Money Morning October 13, 2021 Shiba Inu is up over 300% in less than a month. The goal of 50 cents may be possible if Shiba Inu gets immense support from the community and brings continuous developments and partnerships to the platform, including Metaverses, DEXs, etc., which will create a high demand for SHIB tokens in the market and hence its price will spark tremendous surges. The potential breakdown below the $0.000012 support will trigger the bearish-descending triangle pattern. Will Shiba Inu Coin Reach 50 Cents? AGIX SingularityNET Price Prediction 2023-2030: Will AGIX reach $100? SHIB will never reach a cent, much less a dollar, and that's because its supply is so massive. The real question is what are the 3-4 factors that could drive Shiba Inu towards 1 Cent, Here is why Dogecoin is better than Shiba Inu, To reach 50 Cents, Shiba Inu will have to rise 32279 times higher. Yes, we believe Shiba Inu can reach 0.0001 dollars in the next 11 years. All these developments will improve Shiba Inu's functionality and could boost its price. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The crypto is primarily a payment token running on Ethereum. While Dogecoin has a. While Dogecoin has a strong chance of reaching $1 in the future, we cannot say the same for Shiba Inu, at least not in its current state. Shiba Inu has a total supply of 1 quadrillion tokens. Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. As before, the primary limiting factor is the outstanding supply of SHIB, which at current amounts would produce a market capitalization of $275 trillion if the meme coin reached the $0.50 mark. With burns of 2-3% a year, this can even be faster and the market cap requirements could be much lower. That doesn't allow for appreciation since there is always some more in circulation than those who demand it. 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. 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