Crypto:
29856
Bitcoin:
$67.640
% 2.65
BTC Dominance:
%52.9
% 0.21
Market Cap:
$2.53 T
% 1.90
Fear & Greed:
76 / 100
Bitcoin:
$ 67.640
BTC Dominance:
% 52.9
Market Cap:
$2.53 T

Will Shiba Inu Coin Reach $1? Shiba Inu Price Prediction

Will Shiba Inu reach to 1 dollar?

In 2021 – the last bullish season Shiba Inu coin reached almost 0.00008 cents. That means huge rises. Just in 1 year investors and holders make a lot of money thanks to the Shiba Inu coin. If you buy Shiba Inu for 15$ in 2020, your maximum earning amount will be about 1.5 million dollars.

So, everyone wants to know if this will happen again. Because the coin did that in the past and it can do it again. Here, answers the questions: Will Shiba Inu reach 1$ or not? Millions of investors have hope for the coin and its price.

Rise Of 8 Million Percent

We already know Dogecoin. It’s also a meme coin. Dogecoin’s price raised in 2020 and the coin created new meme hype in the crypto market. Next, was created Shiba Inu and raised quickly. Everyone starts investing in Shiba Inu who catches the “Dogecoin Train”.

Shiba’s price raised rose by 80.000 times thanks to Elon Musk and other influencers. Shiba Inu price’s all-time high (ATH) was 0.00008845 dollars. Among the effects was Binance. Hence, Shiba Inu’s price was raised to that area due to listing on Binance.

Shiba Inu’s price is 0.00006 cents when was written the blog. I mean Shiba’s current price is down %70 from ATH.

Will Shiba Inu Reach To 1 Dollar?

We need a little mathematical calculation. But don’t worry, that’s not difficult. There’s one formula: Market Cap= Current Price * Circulating Supply. Let’s get started expecting the prognosis of the next price.

According to CoinMarketCap Shiba’s current market cap is 4 billion dollars. The circulating supply is 589,349,064,330,322.9. In this case, we can calculate the next price. We must do that: Market Cap/Circulating Supply. The coin’s current supply is approximately 500 Trillion. I mean Shiba Inu needs 500 Trillion dollars for reaching to 1$. It’s impossible. Bitcoin’s market cap is 500 billion and its supply is about 19 Million. Even Bitcoin doesn’t have that market cap.

In another situation, Shiba needs huge burnings. Burning mechanisms work like that: Somebody (individual or institutional) is buying large amounts of the coins and sending them to a null address. This is also impossible because nobody wants that, I mean don’t want to waste their own money for any meme coin.

You might also like: What Is Binance NFT Marketplace And How To Use It?

Another Reason For Another Barrier

The Musk effect

We already know about the CEO of Tesla and Dogecoin fan Elon Musk. Already we can say he started the meme coin rallies. Musk and their tweets which they are following millions of persons. So, what did Musk do?

Dogecoin raised the first giant rise because of her tweets. He announces that I’m a backer of Dogecoin in his own tweet. And then he continues sharing the tweets. He did the last which was to change Twitter’s logo to a Dogecoin icon.

But right now Musk’s tweets don’t have influence as was happened in the past. Even Dogecoin backers and fans judge her because of these behaviors.

ShibArmy loses their own powerful

In the past, Shiba Inu had so stronger community. The community is the main fundament of the meme coin. But now there isn’t the power due to failing price, market cap, etc. If there isn’t a strong community, there isn’t a rising price.

What We Must Do?

First of all, you must learn. Even you just must learn. Because you are an investor in the market. You must get some knowledge about cryptocurrencies and blockchain technologies. For example, you investing in Solana, but you definitely have no idea what is Solana and how to work it, in this scenario, you’re doomed to failure.

That’s why, don’t think about what will any coins in the future or don’t say I wish I bought Bitcoin in 2009, etc. The opportunity there is in the market every time. You should learn and work instead of being too sad.

 

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