Will Shiba Inu Coin reach 50 cents? It would take 63 years for SHIB to reach 50 cents if it increased to 15% per annum
The Shiba Inu coin is based on Ethereum ERC20, but the developers are working on their own layer 2 blockchain, Shibarium. However, it is not yet clear when Shibarium will be launched as most Shiba Inu investors are keeping their last hope of a Shib price increase on Shibarium.
Now the question arises: Will Shiba Inu Coin reach 50 cents or can Shiba Inu Coin reach 50 cents?
Let’s discuss, the current scenario of Shiba Inu:
At its current price, for Shiba Inu to reach 50 cents it will have to rise 50,000 times, which means that Shib’s market capitalization will also multiply by 50,000 times. If this happens, SHIB will not exceed the Ethereum market cap on which it is based, which seems somewhat impossible at the moment.
However, nothing can be erased when it comes to cryptocurrency prices. Let’s do some math and try to understand the scenario of “Shiba Inu will reach 50 cents?”
|Price as of June 19||$0.0000080|
|How many times will the price have to go up to become $0.50?||62,500|
|Market cap as of June 19||$4.4 billion|
|How much does it cost 62,500 times 4.4 billion dollars?||$275 trillion|
|If the SHIB were to increase by 15% per year, how many years to reach 50 cents?||63 years|
|If SHIB were to increase by 15% per year, plus 50% burns||31 years|
Will Shiba Inu Coin reach 50 cents? What are the factors that can help Shiba Inu Coin reach 0.50 cents?
If Shiba could implement all its development plans – Metaverse, DEX etc. effectively, the demand for SHIB coins would increase, and thus the price
- Burn Shib
If the current SHIB plan could be accelerated, the price increase would be faster
Few facts about Shiba Inu
- Shiba Inu is currently trading at a price level it had as of September 2021.
- SHIB’s Market Cap rank dropped from being in the Top 10 to 17th.
- Since January 2022, SHIB has lost about 80% of its value. SHIB was trading at over $0.0000030 in January 2022.
- It is for the first time since October 2021 that SHIB adds another “0” to its value.
- SHIB is down more than 90% from its all-time high of $0.000008845. SHIB was able to reach this value on October 28, 2021.
Is Shiba Inu a good investment?
Shiba Inu has been a good investment since October 2021, when the price of SHIB started to rise. However, for SHIB the number of tokens in circulation was a real problem. Despite billions of tokens being burned, the price of SHIB after hitting its all-time high in October 2021 failed to make great progress. Currently, there are about 589,735,030,408,323 SHIB tokens in circulation and according to our estimate that SHIB reaches 1 dollar about 99.9% of existing SHIB tokens must be burned.
Currently, the market condition is worrying, but it is the same for both cryptocurrencies and the stock market. Rising inflation has led investors to withdraw their investments and land their ends. Added to this is the recent LUNA fiasco that has created a kind of fear among crypto investors. Therefore, Shiba Inu could be a good investment as we have seen its growth potential in the past, but it is always advisable to do a thorough research before making a financial investment.
Shiba Inu 50 cents? Conclusion
Considering the combustion rate requirements, the likely market cap for such a price, and the intense competition between cryptocurrencies, Shiba Inu Coin is unlikely to ever reach 50 cents.