Shiba Inu’s Path to $1

For the token to reach its one-dollar value and $500 billion market cap, the Shiba Inu community would have to burn 99% of the SHIB supply.

Despite Shiba Inu’s persistent troubles amid an ongoing market drawdown, investors maintain confidence in its potential recovery. Analysts, such as Javon Marks, have set mid-term rebound targets at levels like $0.0001553.

Proponents are eyeing longer-term targets of $0.001 and even $0.01, though pessimism surrounds these projections. Discussions about Shiba Inu potentially reaching a $1 price tag continue to circulate.

Shiba Inu’s $1 Prospects

Last August, crypto exchange CoinW questioned whether Dogecoin or Shiba Inu would reach the coveted $1 mark, suggesting SHIB still had potential. Currently, Dogecoin trades at $0.2756, making it closer to the $1 goal than SHIB, which is at $0.00001667.

Critics argue that talks of a rally to $1 are unrealistic, primarily due to SHIB’s current circulating supply of 589 trillion tokens. A $1 price would require a market cap of $589 trillion, which exceeds the world’s money supply, necessitating extensive token burns.

Required Burn to Reach $1 at $500B Market Cap

For a $1 price at a $500 billion market cap, Shiba Inu’s circulating supply must shrink to 500 billion tokens. This means the community would need to burn 588.5 trillion tokens, or 99.91% of the current supply. Given the scale of this burn, the likelihood of SHIB reaching $1 remains extremely low.