Will Shiba Inu reach $1 in 2030? It would take 15 years for Shiba Inu to reach 1 dollar if Shib increased by 50% each year and 50% of Shib coins were burned.
Will Shiba Inu reach 1 dollar? Some Statistical Scenarios
|Price as of June 28||$0.0000109|
|How many times will the price have to go up to become 1 dollar?||10,000|
|Market capitalization as of June 28||$6 billion|
|How much does it cost 10,000 times 6 billion dollars?||$60 trillion|
|If SHIB were to increase by 20% per year, how many years would it take to reach 1 dollar?||50 years|
|If luna were to increase by 50% per year, how many years would it take to reach 1 dollar?||29 years|
|If Luna were to increase by 50% per year and burn even 50% of the coins||15 years|
Last break Shiba Inu
- Shiba Inu jumps 50% in 7 days, SHIB holders approach 1.2 million
- SHIB vs DOGE: Shiba Inu is up 48% from last week, while Dogecoin sees only 26% gains
Can Shiba Inu reach 1 dollar? Some statistical oddities
- Apple’s market cap today is $2.12 trillion. This is the highest for any company today. 20 years ago, Apple’s market cap was almost the same as Shiba Inu’s today.
- Ethereum took 4 years to increase its market cap from $5 billion (like Shiba Inu today) to $500 billion, but the market cap has dropped from its peak and is at $122 billion today.
Can Shiba Inu reach $1 in 2030? The Burn scenario
To reach 1 dollar, Shiba Inu will have to increase 10,000 times compared to the current price. This is not impossible and there are many ways in which Shiba Inu Coin can reach $1.
- A significant number of tokens will have to be burned so that the price of each coin increases.
- For example, there are 549 trillion coins in circulation today and if we were to burn 99.9999% of all coins, the price would be 1.15 dollars.
- Another way to look at it is that the current projected price for 2020 is 0.00016, which translates to a market capitalization of $88 billion. Shib will have to burn 99.999% of all coins.
The burn can be less if many of Shib’s plans such as Metaverse, Shib Swap, and Payment Partnerships take off and consume many of these tokens.
Will Shiba Inu Coin reach 1 dollar? Conclusion
There are many barriers for which Shiba Inu will struggle to reach 1 dollar
- Competition: There are 17000 cryptocurrencies and maybe 10-50 of them that are quite differentiated. Shiba Inu which started as a meme coin is now attempting to offer almost everything (payments, DAO, Metaverse, Layer-2 Blockchain, DeFi etc.). The problem with this strategy is that the best performing coins are the strongly differentiated ones. A generalist currency will find it difficult to add value. Also, from a portfolio perspective, it makes sense to diversify positions into multiple areas
- Impossible to perform the burn beyond one level: in practice, it is unlikely that so many coins will ever be burned. Burning 50% or 99.9999% is impossible for a number of reasons. The first of these is the simple fact that not all investors would look for anomalous returns. Some would be happy with much lower yields and would not be eager to burn their coins
That said, even without burns, the price of Shiba Inu could increase much more than 14 times in the next 8 years. This in combination with the burn could bring the price closer to $ 1, but the chances of reaching $ 1 are almost zero.
Why won’t SHIB reach $1 in 2022? Reasons
- Trading volume: We have noticed in the past that when the price collapses, there has been an increase in trading volume as more investors try to take advantage of the lower price. This time things are different. Despite the fact that the price of Shiba Inu falls below 0.0000010 dollars, there is the least interest among investors. Trading volume in the last 24 hours has fallen by more than 30%.
- Whales: The price of Shib in the past has been mostly driven by whales. Whales have come to Shiba’s rescue on many occasions. This time, the whales seem to have abandoned Shib and allowed the price of SHIB to have a free fall. However, one fact shows that SHIB is the largest altcoin or favorite altcoin among ETH whales.
- YTD yield: The cryptocurrency market is declining and almost all cryptocurrencies are lower and this is the case since January 2022. But what’s more worrying is that SHIB is one of the worst performing cryptocurrencies this year. SHIB has lost almost 68% of its value this year.
- Social Media Sentiment: Social media sentiment for SHIB is worse. The buzz is very negative and there seems to be no improvement. SHIB’s search volume also crashed.