1/2 ? Efforts are underway to burn Shiba Inu tokens to reduce supply. And according to the CoinMarketCap list of the largest cryptocurrencies, Shiba Inu - the Dogecoin Killer - is ranked in the top 15 cryptocurrencies with a market capitalisation of $11 Billion. Still, Shiba Inu, trading at a fraction of a cent, has a long way to go to reach $0.01. The Shiba Inu project is quite well established, as it has a large base of token holders and listings on major cryptocurrency exchanges. From there, ADA should rebound higher as what happened previously. For example, it would not be so outlandish to say that a cryptocurrency with a market cap of $10 million could potentially 100x in price over a long enough time period. But will the gains last and help lift Shiba Inu to $0.01? Another point against SHIB reaching $1 is its supply inflation according to our data, the supply of Shiba Inu increased nearly 8% year-over-year, which makes the prospects of SHIB hitting a $1 milestone all the more unlikely. The volatility of crypto markets makes it impossible to determine what SHIB would be worth even in the next 24 hours. We can safely assert that a cryptocurrencys long-term viability is mostly dependent on technology and community, based on our experience. The SHIB price is currently $0.000007949 at the time of writing. It was not uncommon for the total daily trading volume in SHIB to come in below $500 in the months following its debut, based on data from CoinMarketCap.com. Of course, Shiba Inu going to 1 dollar is an even more unrealistic scenario. Shibarium will provide a strategy for burning SHIB tokens. Sometimes, we refer to such cryptocurrencies as penny cryptos. Meme coins, in particular, had to accept even greater losses. $1 means almost 1803651% up from price $0.00005544 USD. It's going to take some time but 50 mill shib at 1c,5c,10c,50c or $1 per t. But between Jan. 1, 2021 and Oct. 27, 2021, Shiba Inu did something that may never be repeated again by an investable asset. In reality, you shouldnt be looking at a coin or tokens price per unit when trying to see if it is undervalued or overvalued. When SHIB was on the way up, many token holders were wondering if Shiba Inu will reach 1 cent. window.__mirage2 = {petok:"S5ZfuvMr9gpFxs7mm17UrMNwLXT4yuie2mYpDgWsvYs-1800-0"}; It is to outpace Dogecoin and beat its market capitalisation even if the SHIB token prices remain under a penny. Lastly, there would almost certainly need to be a large coin burn event. All these developments will improve Shiba Inu's functionality and could boost its price. The volatility and momentum associated with digital currencies have led to some truly jaw-dropping gains. In addition, the SHIB burn rate in February has fallen short of expectations, which is likely to reinforce bearish sentiment. Having read the woof paper from start to finish, the end goal of the devs is to create the largest decentralised ecosystem in the world. It's even the second-biggest holding of Ethereum whales right now, according to Whale Stats. Keep track of your holdings and explore over 10,000 cryptocurrencies. CryptoTicker announces its first NFT Collection How to participate? The only way that shiba inu eats zeros is if the quantity of coins drops drastically. The rally has led its market-cap to hit the $15.5 billion mark, putting it back in the top 15 cryptos in terms of market-cap. In the best-case scenario, it projects that SHIB's price could reach $0.000270 by February 2024, accounting for the technical analysis data aggregated on February 6th. While $0.001 might be a target SHIB holders like to dream about, it's far likelier Shiba Inu gets sent to the doghouse in 2023. That said, people keep actively asking whether the Shiba Inu coin price could keep eating zeros and reaching the cent figure. Clearly, SHIB-USD has come a long way since its. Since its launch in August 2020, Shiba Inu Coin (SHIB) has become one of the most talked about cryptocurrencies on the market. Several factors contributed to this. Though it has a loyal following on social media, people cheering in the stands doesn't change the fact that Shiba Inu offers no competitive advantages. Shiba Inu has pulled off some of the most impressive price performances in the history of crypto markets. Why is this such a big deal? In September, 1.5 million people searched for "Shiba Inu coin," believe it or not. This could be similar to the run of Dogecoin itself. At its peak on Oct. 27, a single SHIB token set investors back $0.00008841. In August 2020, when Shiba Inu made its debut, it was one of thousands of nondescript tokens looking to make a name for itself in the digital currency space. That's unlikely to happen. On the Ethereum network, its another ERC20 token. At the moment, no one believes that Shiba Inu will reach $10 in the near future, and certainly, no one believes it will reach $100 in our lifetime. As for less tangible catalysts, SHIB would need a historic amount of social media buzz to drive its token price to $0.001. When SHIB was on the way up, many token holders were wondering if Shiba Inu will reach 1 cent. To add, only 715 merchants on online business directory Cryptwerk were accepting SHIB as a form of payment, as of January 2023. Even though many crypto investors dismiss meme coins outright, the fact remains that SHIB is the 13th largest crypto asset by market capitalization, surpassing the likes of Litecoin, Polkadot and TRON. So, if the market cap of Shiba Inu would be so outlandish if SHIB reached $1 or even $0.01, why do we see people mentioning these price targets so often on social media platforms? We know Shiba completely community backed currency and more people keep holding their investment it keeping pushing price upward. 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. Cost basis and return based on previous market day close. Dogecoin is a cryptocurrency that exists independently of Bitcoin. So, for the long-term investor, it's best to consider more promising cryptocurrency opportunities. It's always traded at a fraction of a cent -- and for good reason. Price prediction websites, crypto experts, and even Shiba Inu investors are all confident that Shiba Inu will recover and continue rising moving forward. First, the recent crypto shock took the market by surprise and threw it into disarray. With an estimated 549 trillion SHIB coins still in circulation, per CoinMarketCap.com, a big burn event would be needed to pump up the value of each remaining token. We still suggest to do your own research before investing because there more option in crypto industry that really have great utility that stays forever. There you have it, Shiba Inus goal is not to reach $10 or even $1. In this context, the factors of project niche, marketcap, revolution, and innovations are significant. Here Are the Chances for the SHIB Price to Increase, meme coins that could be the next to explode. SHIB's entire market value will be $54.9 trillion at a $0.10 valuation, which is 2.5 times more than US GDP, 54 times more than Bitcoin, 100 times more than Ethereum, 27 times more than Apple Inc. (AAPL), and 55 times more than Tesla's (TSLA) market cap. Then in the middle of next year, the crypto price forecaster sees Shiba rising to $0.00005546. However, due to the general decline of the crypto market, that hasnt come to pass. Looking at the 4-hour price chart, SHIB price is preparing to trade above the EMA-20 trend line as it witnesses a spike in trading volume. This was a reach even in the bull market, and is extremely unlikely now. According to the figure above, for SHIB to attain a market size of $54.9 trillion, the overall market cap of Shiba Inu must be 549 trillion x $0.10 = $54.9 trillion. SHIB has gained about 25,000,000 percent over the past year, putting its average monthly growth at more than 2,000,000 percent. pic.twitter.com/zQRoOuL9oW. If youre making a Shiba Inu price prediction, the 1 cent price level is more or less out of the question. As a result, the price per token is extremely lowat the time of writing, 1 SHIB is only worth $0.00001110. Lets go over it in more detail. In this article, well discuss the prospects of Shiba Inu hitting major price milestones and explore SHIB price predictions. 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 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? Some do not even believe that Shiba Inu has what it takes to reach $1 by 2026. Input your search keywords and press Enter. SHIBA INU technical analysis for today - Mar 02, 2023. And why do they not believe it can hit $10 in the next 5 years? Each offers distinct ways for stockholders to raise their investment return. Big News: Ripple Price is about to TRIPLE? The Shiba Inu coin, similar to Dogecoin, is a meme-based cryptocurrency that was created in August 2020 by an anonymous person (or a group of people) who go by Ryoshi. On the other hand, SHIB does not create any product; its a currency. While Ethereum's network is highly trusted, it has a tendency to bog down due to its popularity. however, Robinhood faces backlash for memecoin listing and even other exchange also facing similar kind of situation. Sure, a near-term catalyst like the Shibarium launch could push Shiba Inu higher. Meme coins like Dogecoin and Shiba Inu Coin were particularly popular. Not even in our lifetime. But that would depend on the success of the projects and whether they increase the level of adoption for Shiba Inu. Apple, Tesla, Google, etc., are precious companies because they make excellent products that consumers use and love. Shiba currently holding 11th position in market cap ranking right after Dogecoin and difference between Dogecoin & Shiba market cap is around $9 Billion USD. Will Shiba Inu Reach 1 Cent? This price represents a 5% fall in 24 hours, a 13% loss in a week and a 3.5% decline in the last 30 days, with the meme token unable to escape the wider market's problems. And even Shiba Inu token developers know it. This is a big win for Shiba Inu and its investors. This is an easy to use online charting tool that requires no downloads or prior knowledge. We and our partners use cookies to Store and/or access information on a device. Well explain why SHIB will never achieve 10 cents in this essay. Unfortunately, Shiba Inu (SHIB) will never reach $0.10 or 10 cents because it is financially illogical. They have alluded as much on the official Shiba Inu website stating that Nicknamed the DOGECOIN KILLER, this ERC-20 ONLY token can remain well under a penny and still outpace Dogecoin. Token officially listed on top tier 1 exchange including Binance, Coinbase, Huobi, FTX and others. This low price was a reflection of Shiba Inu's creator placing 1 quadrillion tokens in circulating supply. It could even take years of sustained positive performance for that to happen. Shiba Inu's biggest catalyst yet may be days away. After learning about Shiba Inu you will better understand is Shiba Inu a good investment for long term? Over the past nine months, only 56 new merchants have come to accept Shiba Inu as payment on Cryptwerk. Right now, Shiba Inu trades for a fraction of a cent. Shiba Inu will definitely reach 10 cent in 10 years alot of investors are moving in Meanwhile, major cryptocurrencies exchanges have them on their platform.. Buy and hold for the said 10 years 1 David Turner Former Litigation Partner (Ret.) However, SHIB was not spared during the cryptocurrency bear market of 2022. Ironically, the catalyst that brought Shiba Inu to the limelight was Dogecoin, which Shiba Inu was meant to replace. From the fundamental side of things, the Shiba Inu team is working on several products that are geared towards making SHIB a more attractive token to hold. Shiba Inu Prediction 2025 Can the Meme Coin Repeat Its BOOM? As a result, Crypto traders are keeping an eye on. As noted, Shiba Inu is an ERC-20 token on Ethereum's blockchain. When will Shiba Inua Coin reach a penny? Tax on profits may apply. More are nonetheless not convinced that Shiba Inu has what it takes to reach $10 in the next 5 years. As a result, Crypto traders are keeping an eye on. Is it possible for the coin to reach one cent? Like before, the main restrictive factor is SHIBs circulating supply, which would, at current amounts, produce a market cap of $275 trillion if the meme coin were to reach the $0.50 mark. Shiba Inu, on the other hand, has a supply of 549 trillion tokens. So, if there is a cryptocurrency bull run again and demand for Shiba Inu rises, interested buyers will have no problems with acquiring the token. eToro have proven themselves trustworthy within the crypto industry over many years we recommend you try them out. Coin burn involves sending tokens to a dead blockchain address where they can no longer be accessed. According to our SHIBA INU price prediction, SHIB is expected to reach a price of $ 0.000016 by Mar 07, 2023. With its unique 'dog-themed' design and meme-based marketing, it has attracted a loyal fan base and gained a lot of attention from investors. So, should you buy Shiba Inu while it's trading well below $0.01? During its monumental run-up in 2021, platforms like Twitter and Reddit were flooded with Shiba Inu mentions. So, it is possible for Shiba Inu also to reach 1 cent. New Uptrend 2023? Shiba 2023 Price Prediction in INR: Shib is predicted to touch 0.0025 by the end of 2023. 1 zero needs 10% of coins burned. (. Wallet Investor expects Shiba Inu token prices to rise to $0.00007 by end of 2022 and rise to a further $0.0002 by 2025. The purpose of Shibarium is to drastically reduce transaction fees. Its current circulating supply is about 550 trillion tokens. A single SHIB coin is . Although meme coins have been around since 2013, when Dogecoin was created, it was in 2021 that they became mainstream. Shiba Inu (SHIB) will never hit $0.10 or 10 cents since it is not commercially viable. The cryptocurrency Shiba Inu has wowed investors with its path up the charts. For more than a century, the stock market has been one of the greatest wealth creators on the planet. By September, Dune Analytics reports that NFT trading volume plummeted 97% to just $466 million. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Expert analysis as token SURGES by 164% SHIBA INU has risen by more than 164 percent in a week showing bearish dominance in the market while dogecoin prices. The only significant difference was the creator built Shiba Inu on the Ethereum network. When the clock struck midnight on Jan. 1, 2021, investors had the opportunity to scoop up SHIB coins for just $0.000000000073. However, this doesnt mean that its impossible for the SHIB price to grow. The current price of Shiba Inu is $0.000012, and the 24-hour trading volume is $171 billion. However, that doesnt mean that Shiba Inu doesnt have a lot of upside potential. On the one hand, Peter Mallouk, Creative Planning CEO, stated that . That is why Bitcoin is the most popular cryptocurrency. What would it take for. It could happen if enough SHIB token is burnt. In contrast to Dogecoin, which has its own blockchain, SHIB is issued on the Ethereum blockchain. Additionally, transaction fees can soar during these periods of congestion. May 12, 2021 By Sam Sant Shiba Inu coin (SHIB) is easily the hottest new form of cryptocurrency. Popular meme token Shiba Inu (SHIB) is stirring up some excitement. Could Shiba Inu Help You Become a Millionaire? Here are 3 Cryptos to Buy in March 2023. SHIB can be transformed into a utility token by minimizing its supply in distribution. Overall, the Shiba Inu price was lower after the crash than it had been earlier. Shiba Inu is of course not the only contender in the meme coin sector.
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