It may also reach 50 cents within the next 10 years. Therefore, it is possible that Shiba Inu will also reach 1 cent. Considered one of the best shitcoins, Shiba Inu was launched on August 1, 2020. If you want to know the answer to this question, keep on reading. Macroeconomic factors are external factors (Interest Rate, Inflation, Value of the Dollar) that can influence the price of Shiba Inu. At 1 Cent, Shiba Inus market cap would be $5.6 Trillion. However, Bitcoin has strong fundamentals. Shibarium will decide the future of Shib. With the current price of Shiba Inu being $0.000009 with a trading volume of $274 Trillion, almost half of its coins need to be burned to increase its price to 50 cents and more. Adria Cimino has positions in Ethereum. Shiba Inu, or SHIB, is a decentralized cryptocurrency that is starting to gain mainstream attention due to its affiliation with the popular Dogecoin (DOGE). Some believe that the circulating supply of SHIB will decrease drastically after the launch of the Shibarium Layer 2 network, which will burn SHIB for every transaction. DoggyDAO, a decentralized autonomous organization, also shows potential. The coin's mascot is the shiba inu dog, the . After that, its price plummeted to new lows and is lowering. The price of SHIB will always be at most 10 cents. It's even the second-biggest holding of Ethereum whales right now, according to Whale Stats. But that doesn't mean Shiba Inu will even come close to replicating those gains. All of this means Shiba Inu isn't likely to reach $0.01 anytime soon. Additionally, try to see its price graph. For context, global gross domestic product -- the value of all goods and services. Will the Shiba Inu coin reach 50 cents? However, the huge supply of coins in circulation prevents the price of the token from reaching 1 cent. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Its time to do a fundamental analysis of that project. We provide you with the latest breaking news and videos straight from the entertainment industry. This led to Shiba Inu price fall by nearly 7%. However, there is little evidence to suggest that the burn rate will be sufficient to propel the price of Shiba Inu to 50 cents. When it comes to the cryptocurrency market, its current market capital rank is #14. In fact, it offers a lot less in some cases. Latvian Parliament declares Russia a "country sponsoring terrorism". Yes, we believe Shiba Inu can reach 0.0001 dollars in the next 11 years. 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? This does not mean it is a certainty. The global cryptocurrency market cap was trading marignally lower to $1.07 trillion mark, falling about half a per cent in the last 24 hours. what did Binance and Shiba swap reveal about Shiba Inu? The cryptocurrency market climbed past $3 trillion in 2021 as investors piled into this exciting newish market. But will the gains last and help lift Shiba Inu to $0.01? Not long after, SHIB started a steady climb upward. This is because this cryptocurrency was introduced as a joke. Shiba Inu has one of the largest crypto communities. Shiba Inus metaverse is being built by the team. 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. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()); The best of Crypto news & Update, in your inbox. As a result, Shiba Inu took off. Even reaching lower prices, such as $0.01 or even $0.001, seems very difficult. Many people think of Shiba Inu as an alternative to Dogecoin. site: MoneyMorning.com, Fetch.ai Price Prediction 2023, 2025 and 2030, Will VeChain reach $1, $10? Rather, this is due to several unique features of the token. And it only gets worse for Shiba Token. The volatility of the crypto-currency markets makes it impossible to determine what SHIB would be worth even in the next 24 hours. 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". In this article, well discuss the prospects of Shiba Inu hitting major price milestones and explore SHIB price predictions. Shiba Inu will not reach 1 cent by 2025 because to reach 1 cent Shib coin will have to reach a market cap of 1 Trillion (2 Times Apple) in 3 years or burn 90% of all SHIB coins in the next 3 years. . Most crypto players offer the exact same things. With burns of 2-3% a year, this can even be faster and the market cap requirements could be much lower. But why is it so? Since the token runs on Ethereum, it's subject to the slow speed and often high transaction costs of that blockchain. Conversely, the Bollinger bands lower limit trades at $0.00001042, acting as a crucial support level for determining Shiba Inus future price fluctuation. For it to reach 50 cents in price, it needs to have a total market capitalization of $274 Trillion. 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. 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. However, once Shiba Inu implements many of the proposed plans, it is likely that Shiba Inu will reach 1 cent very soon. But it could reach 1 cent after a few years of symbolic burns and deflationary mechanics. is required to be around $5.5 trillion. POLKADOT etc. Shibarium would change all of that, with operations moving on to this separate network. You can only speculate. If the Shiba Inu price increases by 50% annually it will take 16 years for Shiba Inu to reach 1 cent. Algorand Price Prediction 2023-2030: Will Algorand hit $100? The Dogecoin price has increased in recent weeks, but it has lagged behind the percentage increases of other cryptocurrencies, particularly the Shiba Inu coin, which is another important meme coin. Shiba Inu is in our list of Best Cryptocurrencies to Invest in 2023. But how sustainable is that growth? As for Shiba Inu specifically, the crypto faces the problem of limited uses, as mentioned above, and an even bigger problem that could hold it back from significant gains. Shiba Inu burn and whale action are also essential factors in determining the price of Shiba Inu. If the Shiba Inu team implements those effectively, the prediction accuracy will improve. Required fields are marked *, Sign me up for the Money Morning newsletter. ados_load(); As the name suggests, Shiba Inu coins (SHIB) are a form of cryptocurrency introduced in August 2020. Yes, Shiba Inu can hit 1 cent. This is why many investors call SHIB a meme coin. Investors buy this coin and resell them in the market when the price rises. So it is essential to research any cryptocurrency before you decide to invest in it. Vitalik burned most of his Shiba Inu coins and sent $1 billion in Shiba tokens to Polygon founder Sandeep Nailwal to help India during the COVID-19 pandemic. For instance, a statement by the Federal Reserve Chairman on easing the pace of rate hikes led to a 3% rise in Shibs price. Find out whether the Shiba Inu coin will reach 50 cents or 1 cent with our expert analysis. In the two-month stretch between June 18, 2022 and Aug. 18, 2022, SHIB has more than doubled in value to nearly $0.000015. Burning the SHIB token is a way to reduce the total supply. Your email address will not be published. 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. }); January 19, 2023 By Money Morning Stock Research Team, January 9, 2023 By Money Morning Stock Research Team, December 27, 2022 By Money Morning Staff Reports. In fact, it isn't even likely to reach that milestone over the next five years. Ans: Its highly unlikely that Shiba Inu Coins will be worth 1 cent. A market cap of $5.5 Trillion may sound crazy today but not if it was 30 years from now or later. It has pumped more than 110%, Do you know that crypto jobs are in high demand? It's hard to say if it will ever break $1. Many of us are asking where the price will go over the coming years, and in many ways, it can go from where it is now to prices WAY beyond what any one has thought p. The Bollinger bands are forming a wide range in the price graph, signaling a consolidated zone for Shiba Inu. Many cryptocurrency experts predict the value of the Shiba Inu in 2023, but it is not guaranteed, so be careful. ados_add_placement(9794, 307044, "azk740606", 2629) What does the future hold for the Shiba Inu coin? 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. For $1, you could buy more than 135,000 Shiba Inu tokens. All of this means Shiba Inu doesn't stand out from the competition. Read Here, Before we do the simulation, here are some facts. It's always traded at a fraction of a cent -- and for good reason. Please consult a registered investment advisor to guide you on your financial decisions. If SHIB drops below this support level, it can experience a sharp decline and trade below the price of $0.000009. Shiba Inu developers are about to launch Shibarium. Given our aggressive simulation, the optimistic estimate for Shiba Inu 1 cent is 2050. The crypto is primarily a payment token running on Ethereum. Again, as with the $1 price milestone earlier in the article, the short answer to whether the Shiba Inu coin can reach 50 cents is no. Must Read How to do Fundamental Analysis On Crypto Projects. Unfortunately, this price seems too far as SHIB needs to gain extreme support from the community as it has no actual use cases or contribution to the crypto sphere. First, let's talk about Shiba Inu's spectacular arrival on the scene not too long ago. Investors are expecting the SHIB price to touch $0.5 sooner or later. In this article, weve addressed the question Will Shiba Inu coin reach 50 cents? by looking at factors such as the large token supply and lack of real-world utility. The Motley Fool has a disclosure policy. When you go to various chat forums or see many Youtube videos about Shiba Inu coins, the most common question that people ask is, Will Shiba Inu coin reach 50 cents?, While many claim it will, the answer is quite the opposite. Shiba Inu is a meme coin at the moment. There's also a bit of the past repeating itself at play here. 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. However, that has yet to reflect in the coin price as Shiba Inu (SHIB) currently has a value of $0.00001302, a decrease of 0.93% in the past day. No, Shiba Inu coins are not a good investment now. 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