Will Shiba Inu coin reach $1? Yes, it is feasible since Shiba Inu’s leadership and community are building an ecosystem to guide the use and burning of tokens. However, it is likely to take 49 years from now.
Will Shiba Inu reach $10
? No, Shiba Inu cannot reach $10
Shiba Inu will reach $1 by 2030
: No, Shiba Inu coin cannot reach $1 by 2030
Shiba Inu’s performance
- Last 1 month
- Shiba Inu: +34.1%, Eth: +26.7%
- Last 6 months
- Shib: -0.2%, Eth: +0.1%
- Last 1 year
- Shib: -46.7%, Eth: -37.2%
Will Shiba Inu coin reach $1? Some statistical scenarios
Shiba Inu is one of the most dynamic cryptocurrencies on the market. It is one of the 3 tokens of the house of developers Shia Inu, the other two being Bone and Leash.
There are three reasons why we characterize Shiba Inu as one of the most dynamic cryptocurrencies on the market:
- While we initially characterized him as a jack of all trades, Shib is gradually building an ecosystem that will drive Shib consumption (L2, Metaverse, DAO, DEX, and Gaming).
- Second, shib has a community that drives the awareness, usage, and burning of coins.
- A combination of these two factors also makes Shib an increasingly accepted token for payment on many platforms.
Shib has had a torrid period since inflation hit 6%. Investors and token holders want to know if Shiba Inu can reach $1. Although it is a symbolic goal, it also shows the potential of the token. Let’s consider some scenarios:
If it sounds crazy that Shiba Inu will be at $1 in many years, just look at Bitcoin.
- Bitcoin was priced at $0.1 in October 2010. 12 years later, it is 188,000 times higher.
- How much is $1 from today’s Shib price? 121,951 times higher.
We have managed a simple scenario where we assume growth of 25% every year. Is this possible? Absolutely! Especially if the coin burns 1-2% of the supply every year. With 25% growth each year, it would take 49 years to reach $1.
Read our reasoning in the next section.
Check out our other articles about Shiba Inu
Will Shiba Inu coin reach $1? Favorable reasons
Shiba Inu had one of the most amazing journeys that started in January 2021. Here’s how the price of Shiba Inu has changed since December 2020:
- December 31, 2020 – $0.0000000000119 (9 zeros)
- December 31, 2021 -0.00003379 (4 zeros)
- December 2022 – $0.000009 (5 zeros)
The launch of Shibarium: Shiba Inu is a token issued on the Ethereum blockchain. Transactions on the ETH blockchain are quite expensive due to the higher gas price. In addition, developers and the community no longer want the Shiba Inu coin to be called Memecoin. Expanding their ecosystem, the developers of Shiba Inu are working on their own blockchain platform, Shibarium, which is expected to launch in 2023. Once Shibarium is live, Shiba Inu will be free from the ETH blockchain and may increase faster due to lower costs and increased demand for Shib tokens.
Crude oil price decrease: The price of crude oil has been below $85 in recent weeks. According to our analysis, it was noted that whenever there was an increase in the price of crude oil, the cryptocurrency market crashed. In recent months, the price of crude oil has skyrocketed and is clearly reflected in the price of cryptocurrencies. However, in recent weeks, the price of crude oil has fallen and this is helping the cryptocurrency market recover.
Inflation has returned below 7%: Shiba Inu reached its highest level when inflation was around 6%. Shib continued to fall with inflation rising as high as 9%. In December 2022, inflation fell to 6.5% and could fall even further in the coming months, which in turn could be very positive for the cryptocurrency market.
Will Shiba Inu reach $1? Risks and caution
- Apple’s market cap today is $2.42 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. A 200-fold increase.
- 5 billion (like Shiba Inu today) to $500 billion, but the market capitalization has dropped from its peak and is at $160 billion today.
- While Bitcoin’s rise is legendary, it is also true that there are few other examples to emulate for SHIB. So while SHIB$1 is possible, there are only a handful of cases that support the possibility.
- 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 those that are heavily differentiated. A generalist currency will have difficulty adding value. Also, from a portfolio perspective, it makes sense to diversify positions across multiple areas.
- Unable to 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 a simple fact that not all investors would be looking for abnormal returns. Some would be happy with much lower yields and would not be thrilled to burn their coins
- Whales: The price of Shib in the past has been mainly driven by whales. Whales have come to Shiba’s rescue on many occasions. This time, the whales seem to have abandoned Shib and price permit SHIB in free fall. However, one figure shows that SHIB is the largest altcoin or altcoin preferred among ETH whales.
Ethereum took 4 years to increase its market capitalization from
Major update: Will Shibarium launch soon?
Shiba Inu seems to be approaching the phased rollout of a Shibarium blockchain Layer-2. As detailed below, a Layer-2 blockchain will expand the use of Shiba Inu and make it much more competitive than it currently is. However, no timeline for the launch was specified.
Some details (there are similarities with Polygon which is also an Ethereum Layer-2 Blockchain)
- You can use the Heimdall Validator software
- Bor will be responsible for the production of blocks (EVM compatible layer)
- Shibarium Testnet will need tokens for bone testing
- The number of validators is limited to 100. A minimum of 10000 bones must be pointed
- On-chain Burn for Shiba Inu transactions
- Shibaswap merges with Shibarium
Point to note: Bone and not Shiba Inu Coin will be used to make gas payments on Shibarium
Will Shiba Inu reach $1 in 2030? The burning scenario
To reach $1, Shiba Inu will have to increase by 121,951 times from 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 rises.
- 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.
- Another way to look at it is the current projected price for 2020 is 0.00016, which translates to a market cap of $88 billion. Shib will have to burn 99.999% of all coins.
Combustion can be less if many of Shib’s plans like Metaverse, Shib Swap, and payment partnerships take off and consume many of these tokens.
Shiba Inu Price Prediction 2030
While there are numerous unpredictable factors both micro and macro, Shiba Inu’s projections for 2030 are optimistic.
Shiba Inu Price Prediction 2030 is $0.000178
Shiba Inu Price Prediction 2030 (EUR) is 0.00017
Shiba Inu Price Prediction 2030 (AUD) is 0.00026
Shiba Inu Price Prediction 2030 (INR) is 0.015
Shib Coin Price Prediction 2040
While it’s hard to predict the price in 18 years, Shiba Inu is expected to reach $0.001621 if it increases 15% each year.
Will Shiba Inu coin reach $10?
To reach $10,
Shiba Inu needs to grow 1,219,512 times considering its current market price of $0.0000082.
In addition, it reached its all-time high of $0.000088 in November 2021, where it grew 13.96 times in just four months.
Considering its past growth of 13.96 times in 4 months, we can say that Shiba Inu will take more than 29,119 years, which is absolutely impractical.
Therefore, we cannot see Shiba Inu reach $10.
Updates on Shiba Inu burn
To date, a total of 410,384,666,023,589 have been burned.
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Will the launch of Shibarium (Layer-2) help Shiba Inu climb to $1?
To understand this, let’s take a look at the list of some of the best level 2 blockchains with a token listed in CEX.
- Polygon Matic (Ethereum)
- X immutable (Ethereum)
- Loopring (Ethereum)
- OMG (Ethereum)
- Skale (Ethereum)
How these tokens have performed in the last 12 months
- Matic: -35.6%
- Immutable X: -72.9%
- Loopring: -62.3%
- OMG: -67.3%
With the exception of Matic, the rest of the level 2 tokens underperformed Shiba Inu. Matic outperformed other tokens on the strength of its scale, partnerships, and funding.
How is Shiba Inu better than Matic?
There are two main advantages of Shiba Inu over Matic
- Shiba Inu is a much more popular coin than Matic. Given its unit values, Shib Ownership is more widespread (1.2 million addresses) than Matic (0.58 million addresses). So any upgrade to Layer-2 should push Shiba Inu Market Cap closer to Matic (Matic is currently 55% higher on market cap)
- The Shiba Inu community is one of the most active communities on social media that offers massive support to any new service or product launch. A layer-2 could further help this process.
Once Shibarium
is launched, the power of the Shiba Inu coin brand will attract numerous apps available on Shibarium which in turn will drive demand for Shiba Inu tokens. These apps might include NFT-based apps and large DeFi players. So, regardless of the overall utility of cryptocurrencies, the market capitalization of Shiba Inu and Polygon Matic cannot be substantially different from each other. This implies a huge rebound whenever Shibarium is fully implemented. Just to be sure, this is a theoretical possibility and more specific assessments can be made once Shibarium is launched.
However, this would only count as a small step towards 1 dollar. But many of these stocks each year, but numerous of these bumps over a 15-20 year period could bring Shiba Inu closer to $1 quickly.
Are NFTs the future of Shiba Inu?
Shiba Inu’s NFT collaboration with Bugatti apparently sold out in 4 minutes. With Shibarium on the way, should Shiba Inu focus on becoming a great NFT player rather than getting into smart contracts or DeFi?
Here’s why Shiba Inu should use Shibarium to become a big player in the NFT space rather than tangling in DeFi or smart contracts
.
- Shiba Inu entered the game through Shiba Eternity. There are 15k reviews on the Google Playstore (rating of 4.3) and another 4k reviews on the Apple Appstore. Shiba Eternity is a collectible-oriented game (NFT). Other games of this type may be launched directly or in collaboration / partnership with other NFT-based gaming companies
- Shiba Inu has already sold land in his Metaverse project. While the timing for its launch is unclear, Metaverse is extremely NFT friendly
- While Ethereum is a huge player in the NFT space and Solana is second, most of the others are very small players, Shiba Inu has enough brand strength to start in 3rd place. In fact, players reluctant to switch from Solana to Polygon would be quite open to moving to Shiba Inu
.
All in all, Shiba Inu is in a better position to be a big player in NFTs than in DeFi or smart contracts.
Why Dogecoin is better than Shiba Inu
Bitpay included Shiba Inu in December 2021, Dogecoin was included by Bitpay in March 2021. By the end of 2022, Dogecoin made up 9.8% of all payments via Bitpay while Shiba Inu made up 0.15% of all payments. Not only that, Shiba Inu payments have fallen from 0.5% share in August 2022 to 0.15% today. Dogecoin’s payments increased by 1 percentage point during that period.
In the same period, the price of Doge increased by 26.4% while the price of Shiba Inu fell by 4.6%.
Can Shiba Inu reach 1 dollar? Conclusion
Shiba Inu can certainly reach $1 in the next 50 years if enough tokens are burned, and Shiba Inu implements the full range of developments that have been promised. Moreover, the macroeconomic backdrop is expected to remain mostly favourable during this period.
How to buy Shiba Inu?
Shiba Inu, the Ethereum-based cryptocurrency is gaining with each passing day. Like most Altcoins, Shiba Inu has similar steps for purchasing. Here are the steps for “How to Buy Shiba Inu”:
- Find a crypto exchange with listed Shiba Inu coins
- Create an account with Exchange
- Verify your identity
- Finance your portfolio
- Make your purchase
Where to buy Shiba Inu Coin?
There are several platforms where you can buy Shiba Inu. Some famous exchanges that offer Shiba Inu are Binance, Crypto.com, Atomic Wallet, Voyager, SevenB and KuCoin.