Will Shiba inu coin reach $1 ? Is it possible?
Shiba inu coin is a popular meme coin. A huge jump was seen in the Shiba Inu coin in 2021. But after this, along with big cryptocurrencies like Bitcoin and Ethereum, the Shiba Inu coin price also saw a 90% decline from its high price.
Today in this article, we will try to predict whether the Shiba Inu coin will reach $1 in the future. Today in this article, we will understand how the Shiba Inu coin price can reach $1 or how the Shiba Inu coin price can never reach $1.
The total supply of Shiba Inu coins is 1 quadrillion. Out of which, 50% of the token was sent to Ethereum co-founder Vitalik Buterin, who burned 90% of it, and the rest was donated. But the total supply of Shiba inu is still very high.
The circulating supply of Shiba inu coins is around $590 trillion. This means that if Shiba Inu coin reaches $1, then the market cap of Shiba Inu coin will reach $590 trillion. Which will be more than the combined GDP of the entire world.
Apart from this, in the future, Shiba Inu Coin will see tough competition from Dogecoin and other Mimus Crypto Coins. Therefore, looking at the current data and trends, it would not be wrong to say that it is difficult for Shiba Inu Coin to reach $1. But due to some reasons, a rise in the Shiba inu coin price may be seen.
The Shiba inu community is constantly trying to increase the Shiba inu coin price. Apart from this, if a large amount of Shiba Inu tokens is burned, then some increase may be seen in the Shiba Inu coin price.
But if Shiba Inu Coin gets the support of any big brand in the future, then a good jump can be seen in the price of Shiba Inu Coin. Cryptocurrency market analysts believe that Shiba Inu Coin can eliminate some zeros by the year 2030.
We hope that you guys will be satisfied with the answer given by us. With the facts given by us, it will be easy for you to predict that the Shiba Inu coin price will reach $1.