Will Shiba Inu Reach $1 by 2030?

Shiba Inu is an Ethereum-based cryptocurrency introduced as an alternative to Dogecoin. The Shiba Inu community has realized that it can only rise if it gets rid of the meme coin tag and has some utility. 

Shiba Inu Coin – Buy or Sell? Select One

• December 28th: -7%
• January 24th: +10%
• February 25th: +4%
• March 18th: -67%

SHIB Latest Developments

Shiba Inu’s SHIB is trading higher than its listing price with its market cap surging past $15B. SHIB has around 1.5 million holders with the top 100 holding 75% of the supply. SHIB is moderately a whale-dominated asset with whales holding currently at around 60%.

• March 18th: Shiba Inu is set to make the launch of new tokens on Shibarium easier. Shibarium is expected to undergo an upgrade. The upgrade will introduce features like pumping and launching tokens.

The strong community of Token Holders wants to know if Shiba Inu can reach 1 cent and even $1. While it is a symbolic target, it also shows the potential of the Token. Let us consider some scenarios –

Will Shiba Inu reach $1?

To reach $1, SHIB will need to rise 78,740x.
At $1, the target market cap will be approximately $591.27 trillion.
If SHIB were to rise at the pace of 25%, it will take approximately 51 years to reach $1.

Let us evaluate this data

• Quality of Investment– Poor
• Growth required to reach $1– Not Feasible (Too high to achieve)
• Market Cap at $1– Not Feasible (Too high)
• Time required to reach $1 if it were to rise at 25% per annum- Not Feasible

Considering the Quality of Investment, growth required, and time required, Shiba Inu cannot reach a price as high as $1.

Now Consider a scenario when 99% of the tokens are burnt.

Will Shiba Inu reach $1 by 2030?

No, Shiba Inu will not be able to reach $1 by 2030. The number of Tokens in circulation is quite large and no amount of use cases will support a price of $1. However, should there be a substantial burn, say about 95-99%, this could become more realistic.

Factors that make Shiba Inu a dynamic cryptocurrency

Though many investors think Shiba Inu is ‘Shit Coin’, in reality, Shiba Inu is one of the most dynamic cryptocurrencies in the market. It is one of the 3 tokens from the house of Shiba Inu developers, the other two are Bone and Leash.

There are four reasons why we characterize Shiba Inu as one of the most dynamic cryptocurrencies in the market:

While we initially characterized it 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 coin awareness, usage, and burn.

A combination of these two factors also makes Shib an increasingly accepted token for payment on many platforms.

SHIB is ideal for those who are worried about price fluctuations, especially when transferring money between different platforms or countries. Unlike other cryptocurrencies that move significantly in value, SHIB USDT, its trading pair, never changes its value: wherein 1 SHIB: 1 USDT. 

Will Shib Burn Help Reach Shiba Inu $1?

Given the market cap of $589 Trillion at $1, even a burn program that would terminate 99% of the tokens would not help Shiba Inu reach $1.

The burning of a significant number of tokens is necessary to increase the price of each coin. For instance, if we burn 99.9999% of all the 589 trillion coins currently in circulation, the price would reach $1.15

The burn can be lower if many of Shib’s plans like Metaverse, Shib Swap, and Payment partnerships all take off and consume a lot of these tokens. However, none of these are practical scenarios.

Compare whether Shiba Inu was a better or worse investment option than other Cryptocurrencies.

Favorable Reasons for Shiba Inu’s Growth

While the probability of Shiba Inu Coin reaching $1 is low, there are many elements in favor of Shiba Inu

Substantial Development Work

Shiba Inu aims to move away from its meme coin status by introducing various projects:

• First of all, there is Shiba Eternity, which is a gaming project.
• Secondly, Shibaverse is a metaverse project.
• Thirdly, Shibarium is a layer-2 blockchain project.
• Fourthly, Shibaswap is a native DEX project.
• Fifthly, Shiboshis is an NFT collection project.

In addition, Shiba Inu can be used for payments and partnerships, such as with Gucci, Tag Heuer, and AMC. Furthermore, burning tokens is another way to reduce circulation, and Shiba Inu is also stored by exchanges.

Macroeconomic Factors

To begin with, it’s worth noting that several macroeconomic factors can impact the performance of cryptocurrencies. One such factor is the decrease in crude oil prices, which has been observed in recent weeks. Historically, whenever there has been a surge in crude oil prices, the crypto market has tended to crash. This was evident in the first half of 2022 when the price of crude oil soared and had a clear impact on the crypto market.

Another factor to consider is inflation, which has recently dropped back below 4%. It’s interesting to note that Shiba Inu reached its highest level when inflation was around 6%. However, as inflation continued to rise and hit 9%, Shib’s performance began to trend lower.

Risks and Caution for Investing in Shiba Inu

Historic and Forecast Data do not favor Shiba Inu

Some of the biggest Market Cap Cryptocurrencies and Stocks have not risen at the same pace as expected of Shiba Inu to rise to $1. Even current Shiba Inu Price Predictions suggest that Shiba Inu Price is unlikely to cross 0.012 Cents by 2030.

Shiba Inu’s Competition comes from ‘Meme’ as well as other Tokens

Shiba Inu, which started as a meme coin, is now attempting to offer almost everything (Payments, DAO, Metaverse, Layer-2 Blockchain, DeFi, etc). However, this strategy has a problem in that the best-performing coins are those that heavily differentiate themselves. For example, Blur a new NFT trading platform had a massive run as it gained market share from Opensea by building an aggressive reward system for high-value traders.

Recently Floki Inu has emerged as a major competitor in this space with an emphasis on NFT games. A generalist coin will find it difficult to add value, and from a portfolio perspective, it makes sense to diversify positions across multiple areas

Impossible to execute burn beyond a level

Investors should also note that burning many Shiba Inu coins is unlikely, as burning 50% or 99.9999% is impossible for a variety of reasons. Not all investors would be seeking abnormal returns, and some would be happy with much lower returns and would not be keen on burning their coins.

Despite the active presence of the Shiba Inu community on social media and their aggressive efforts to drive ownership, it is important to note that Shiba Inu is not currently a major player in the payments or DeFi space. Despite strong community support for Shiba Eternity, it remains uncertain whether the hyperactive community can effectively drive token usage. Without an increase in usage, Shiba Inu could end up remaining a meme coin and end up dead.

Other Risks Include Market Volatility.

Can Shiba Inu reach 1 dollar? Conclusion

Shiba Inu can certainly reach $1 over the next 48 years if enough tokens are burnt and Shiba Inu implements the whole range of developments that have been promised. Further, the macroeconomic environment should mostly remain favorable during this period.

Shiba Inu Past Updates

• Jan 13th: Shiba Inu’s lead developer, Shytoshi Kusama, has unveiled the WHY Combinator, a decentralized initiative focused on driving growth and innovation within the meme coin ecosystem. This program aims to accelerate the adoption of Shiba Inu technologies by supporting developers utilizing Shibarium, the network’s Layer-2 blockchain, to create groundbreaking projects. The ultimate vision is to establish “Powered by Shib” as a globally recognized tech brand.
• Dec 28th: Shiba Inu’s Shib: The Metaverse early access is live. Creators can own land, build their world, and explore boundless adventures with Shib: The Metaverse.
• Dec 17th: Shiba Inu has recently burned 17 million SHIB tokens. The total SHIB removed from circulation is now over 410 trillion while the current circulating supply of SHIB stands at 584 T.
• Dec 2nd: Shiba Inu SHIB stormed back into the top 10 cryptocurrencies by market capitalization briefly as the price surpassed $0.000030. However, with the price retreating below $0.000030 SHIB fell below the Top 10 rankings.

Note: Please consult a registered investment advisor to guide you on your financial decisions.