Table of Contents
Dogecoin has given its flying wings to Shiba Inu, another popular meme coin with the same DOG symbol as its pioneer. Due to its potential growth in recent years, many investors speculate Shiba Inu would contribute to capitalising meme coin euphoria. However, it is no different from other volatile cryptocurrencies, and that is why investors are constantly finding the answer to the question: Will the Shiba Inu coin reach $1?
This article will describe how far the Shiba Inu goal reaches its target reality, along with possible scenarios and opportunities. Additionally, it will explain what challenges it faces regularly to restrict its steps toward reaching $1. Read this all-in-one guide and get satisfactory answers to the burning question.
Will Shiba Inu Coin Ever Reach $1?
Since its launch, Shiba Inu has undoubtedly become a significant crypto player. It currently attracts traders and investors worldwide for its successful and profitable trading. However, whether it will reach $1 always remains on its side. Before you understand things through the lens of community support and token burning, you must note that a meme coin will never make up to the assigned goal.
Food for Thought: Token burning is a process of permanently removing coins from circulation to lower the supply and increase the price. The process is permanent and valuable for coins with an enormous token supply.
Let’s keep an eye on the recent status of the coin before justifying the point mentioned above.
- Price: $0.00001322
- Shiba Inu Coin Price INR: ₹0.001122
- Market Cap: $7.87 billion
- 24-hour Trading Volume: $ 126.87M
- Circulating Supply: 589,269.51B
- Current Dominance: 0.49%
Shiba Inu is more than a meme symbol. Its popularity, initiative projects, and gaming services are undeniable. However, it is not possible to reach $1 because of the ample supply and slow token burn. If it is given the challenge to get one dollar, its market capitalisation needs to increase by $600 trillion and soar by a shocking 46,146 times its current value. To cut the story short, it is impossible to reach the target because SHIB is a risky investment and likely to fluctuate.
How Much is the History of the Shiba Inu Coin?
As you know, Shiba Inu is a baby meme coin of Dogecoin that uses the same symbol of “dog” for its cryptocurrency. It was launched in August 2020 due to the efforts of crypto enthusiast Ryoshi. The goal was to gain fame like other digital assets do. The history of the Shiba Inu coin is fascinating, and it is interesting to predict whether it will reach $1. So, read this section to the end if you want to know.
Since its inception, Shiba Inu has tried digging its roots in the evolving crypto sphere, and the hard work is visible. The initial innovative projects, such as the Shibarium blockchain, have strengthened its launch and increased the coin’s value. The native blockchain offers high-speed transactions at a low cost. In addition, ShibaSwap and other use cases help the coin sustain and continue long-term growth.
At this point, Shiba Inu achieved what it was designed for in 2021, including a broader bull market, social media hype, and celebrity endorsements, which caused its price to experience notable jumps. In addition, this guide mentions the price history of the Shiba Inu to help you understand how far the coin has reached since its launch.
Shiba Inu Price History (Years) | Increase/Decrease (Price) |
2020 (Launched) | $0.00000000008165 Reached Low |
2021 | $0.00008845 All-time high |
2022 | 36% Reached low |
2023 | 46.2% Gain in value |
2024 | today’s cost is around $0.00001322 |
What Could Boost the Price of Shib Coin Reach $1?
As you already know, Shiba Inu has done wonders in cryptocurrency since its inception. No other meme dog reached its maximum height in such a short time after its launch. What if several past few years prove the meme coin’s downfall? Its potential growth and popularity are why it is not dead yet.
Here are several factors that can be used to determine what causes Shiba Inu to boost its price. Ultimately, you will be convinced that Shiba Inu prices will skyrocket.
- Increased Adoption: Shiba Inu is widely accepted like Bitcoin and other popular cryptocurrencies. It is preferable as a payment option that eventually increases its demand and utility.
- Innovative Projects: To improve scalability, Shiba Inu has initiated several exciting projects, such as the Creature Card, Shiba Eternity games, ShibaSwap, and Shibarium blockchain. These projects explain the community interest and new user influx, which boosts its value.
- Community Efforts: Community efforts to burn tokens are another factor actively propelling the Shiba Inu price. Doing so will lower the coin’s supply, limit it, and boost its market cap.
- Market Dynamics: Cryptocurrency prices rise and fall heavily depending on the market trend. Likewise, Shiba Inu’s recent growth imposes a good picture of the meme coin in the market, eventually increasing the price.
- Regulatory Environment: A cryptocurrency business needs government approval to prosper and nourish. Shiba Inu is one of those with clear-cut, updated government regulatory changes and policies. This move proves beneficial in increasing its value.
Will Shiba Inu Coin Reach $1 in 10 Years?
Shiba Inu’s popularity is predicted to reach close to one dollar. However, the logical analysis explains that it will remain bullish due to many circulating tokens. Overall, the possibility of the meme coin reaching $1 in the next 10 years is a momentary bubble that resides in the minds of traders and investors.
Despite burning the tokens, it is doubtful that its supply will be reduced to 99%. Nonetheless, many analysts predict that the SHIB coin might increase to $0.000167 or decrease to $0.00015 by 2030. At the same time, the same behaviour is expected in 2050, with slight variations in values. However, this does not mean it will reach its target of $1. It would be best to remember that price fluctuation is based on market trends and community efforts. So, wait for the time for the historic change, if it happens.
What is Holding Shiba Inu Back from reaching $1 Dollar?
Despite its active community support, many factors are involved in determining why Shiba Inu cannot reach $1. It would be best to look at the obstacles to increase your knowledge.
Huge Token Supply
First, the vast token supply (589 trillion) of the Shiba Inu proves a barrier to making the coin reach $1. Not only does it restrict the price from increasing, but it also limits its high demand. Raising the point of token burning is valid here, but the process happens at a slow pace to make an impact. Even making the current price grow tenfold to remove one zero is futile, eventually a hurdle in price exploding.
Limited Real-World Use
Although Shiba Inu is a payment method, its rate is still low compared to that of renowned cryptocurrencies. For instance, only 938 businesses accept the meme coin for payments, while it is 15,000 for Bitcoin. This limited real-world use of the Shiba Inu restricts it to increased price moves.
Market Cap Limits
Like a vast circulating token supply, Shiba Inu comprises enormous market capitalisation. It makes the meme coin victim to increase its value in competition with other cryptocurrencies. For instance, if you want the Shiba Inu coin to reach one dollar, devise tactics to make its market cap approximately $589 trillion. Note that the value exceeds the entire crypto market and US GDP.
Conclusion
If you still hope that the Shiba Inu coin will reach $1, it will not happen by the end of 2025, even by 2030. This guide has explained all the information, including Shiba Inu's launch perspective, price history over the past years, and why it is incompetent to reach $1. However, hopes are not dead due to the cryptocurrency's volatile nature. Maybe the time will come when it achieves its goal, or maybe not. So, there is some advice for you to conduct research and make an informed decision before picking a crypto asset.
FAQs
What is ShibaSwap, and How Does it Relate to Shiba Inu’s Growth?
The Shiba Inu team recently developed ShibaSwap, a decentralised exchange portal. Users can harvest, trade, and stake various tokens, including SHIB. The exchange platform provides physical use cases and contributes to Shiba Inu’s growth and broad adoption.
How Can I Buy Shiba Inu, and What Exchanges Support It?
You can buy Shiba Inu from popular cryptocurrency exchange platforms like Binance, Coinbase, and Kraken. However, you must create an account, deposit the funds, and trade on the selected platform to buy Shiba Inu.
How Long will it Take for Shiba Inu (SHIB) Coin Price to Hit 1 Cent?
Shiba Inu's time to hit 1 cent is unpredictable due to the sizeable token supply and slow token burning. However, if users assume the coin’s growth by 30%, it will reach 1 cent in 29 years.
