Will Shiba Inu Coin Reach 50 Cents? It would take SHIB 63 years to reach 50 cents if it were to rise at 15% per annum
Shiba Inu coin is based on Ethereum ERC20 but the developers are working on their own layer-2 blockchain, Shibarium. However, it is still not clear when Shibarium will be rolled out as most of the Shiba Inu investors are keeping their last hope for a surge in Shib’s price on Shibarium.
Now the question arises, Will Shiba Inu Coin Reach 50 Cents, or Can Shiba Inu Coin Reach 50 Cents?
Let us discuss, the current scenario of Shiba Inu:
At its current price, for Shiba Inu to reach 50 cents it will have to rise 43,000 times which means the market cap of Shib will also multiply by 50,000 times. If so happens, SHIB will not exceed the market cap of Ethereum on which it is based which somewhat seems impossible as of now.
However, nothing can be written off when it comes to crypto prices. Let us do some maths and try to understand the scenario for “Will Shiba Inu reach 50 Cents?”
|Price as of June 26th||$0.00001158|
|How many times will the price have to rise to become $0.50?||43,178|
|Market Cap as of June 25th||$6.36 B|
|How much is 43,178 times $6.36 B?||$275 Trillion|
|If SHIB were to rise 15% per year, how many years to reach 50 cents?||60 years|
|If SHIB were to rise 15% per year, plus 50% burn||30 years|
Will Shiba Inu Coin Reach 50 Cents? What Are the Factors That Can Help Shiba Inu Coin Reach $0.50 Cents?
- Massive Rise In Price Of Shib
If Shiba can roll out all its development plans – Metaverse, DEX etc in an effective way, the demand for SHIB coins would rise, and hence the price
If the current SHIB plan can be accelerated, the rise in prices would be faster
Few Facts about Shiba Inu
- Shiba Inu is currently trading at a price level that it had back in September 2021.
- The Market Cap rank of SHIB has fallen from being part of the Top 10 list to 17th.
- Since January 2022, SHIB has lost around 80% of its value. SHIB was trading at over $0.000030 in January 2022.
- It is for the first time since October 2021, that SHIB has added one more “0” to its value.
- SHIB is down over 90% since its all-time high of $0.00008845. SHIB was able to attain this value in October 28th, 2021.
How can SHIB Reach $0.50: Video Analysis
Is Shiba Inu a Good Investment?
Shiba Inu has been a good investment since October 2021 when the price of SHIB started to surge. However, for SHIB the number of tokens in circulation has been a real problem. Despite billions of tokens being burnt, the price of SHIB after touching its all-time high in October 2021 has failed to make any big progress. Currently, there are around 589,735,030,408,323 SHIB tokens in circulation and as per our estimation for SHIB to reach $1 around 99.9% of the existing SHIB tokens need to be burned.
Currently, the market condition is worrisome, but it is the same for both crypto and the stock market. The rising inflation has led to investors withdraw their investments and make their ends meet. Added to it the recent fiasco related to LUNA has created a sort of fear among the crypto investors. Therefore, Shiba Inu could be a good investment as in the past we have seen its potential to grow but it is always advisable to make in-depth research before making a financial investment.
Shiba Inu 50 Cents? Conclusion
Considering the burn rate requirements, the likely market cap for such a price, and the intense competition amongst cryptocurrencies, it is unlikely Shiba Inu Coin will ever reach 50 Cents.