Shiba Army has been hoping for a miracle to happen, the miracle of Shiba Inu reaching the $1 threshold. Is it too much to hope for? Or is it a baseless fantasy with nothing backing it up in the real crypto world? With real-time statistics, we have come up with the answers to the question which crypto investors are dying to know. The question of – “Will Shiba Inu reach $1 by 2022 (or 2025)?”
Shiba Inu, the meme-inspired, doggy crypto has gained a wide and loyal fanbase since its initial release. Developed by anonymous Ryoshi, Shiba Inu calls itself “the Dogecoin killer” and shares the same breed of mascot that represents Dogecoin.
It is an ERC-20 token that is built on the Ethereum blockchain and is compatible with DeFi applications. With such a stable blockchain backing it up and with wide community activity, it’s normal to wonder if Shiba Inu has the potential to reach $1.
If you’re a fellow Shiba Inu supporter or wish to invest in it in the near future, then here’s what you need to know! Keep scrolling to find all your answers relating to Shiba Inu and if it can touch the $1 mark.
The Rise Of Shiba Inu From Zero!
The dog-lovers (and non, alike) love Shiba Inu, the meme-driven crypto which speculators are highly discussing in the crypto exchange market. With ultimate Ethereum Whale activity coupled with major partnerships, Shiba Inu is becoming the new face of FinTech.
Shiba Inu, being a fairly new Crypto, has amazed people the world over with its growth potential. The prices of SHIB tokens have seen record highs from uncountable zeros and as such, people are eagerly waiting to see if it can reach the $1 mark.
As the network claims, Shiba Inu started with zero and from zero. Yet, it has grown way beyond it making multiple millionaires in a period of 1 year.
In Jan 2021, the price of Shiba Inu was nothing more than $0.000000000073. Now, it has a unit price of 0.0000353 which keeps on fluctuating, keeping market trends in mind. (by the way, its an increase of 48356100%)
This rise of Shiba Inu is attributable to a number of factors starting from its community activity where members are dying to see their favorite coin succeed and other major pushes coming from the prominent faces of the tech world. From the opening of ShibaSwap to its acceptance in major Crypto exchanges, Shiba Inu is relishing its newfound success!
But the most impending question of the hour is obviously, how long will it last! Popularity is not a great variable to start with if one wants to succeed in the long run and looking at the SHIB activity, this certainly seems the case. Where the SHIB Army is increasingly hoping for miracles to happen, the question is, can they really happen? Can SHIB reach $1?
Let’s dive in! Let’s find answers if Shiba Inu can reach $1 by 2022 and 2025!
Can Shiba Inu Reach $1 By 2022 And How?
Shiba Community is known for creating the buzz and hype for their coin and now the buzz is about the possibility of the Shiba Inu coin hitting the mark of $1 by the end of 2022. Shiba Inu, no doubt has been making miracles after it joined the crypto market and later opened its own Shiba exchange. But hold on! Can this miracle which the community has been going crazy over, actually happen?
Although Shiba Inu finds itself in the top 13 cryptocurrencies (as per Market Cap), can Shiba Inu hit $1? Let’s see if it can below!
We have done a little math according to the current prices of Shiba Inu (which are bound to change keeping the uncertain market trend in mind) to come to a conclusion of will Shiba Inu reach $1 by 2022.
So without any wait, let’s begin!
Firstly, you should pay close attention to the Current Unit Price of Shiba Inu which is $0.0000353.
Now, to increase the current unit price from $0.0000353 to $1, there should be a percentage increase of 2832761.19%. With a percentage increase of 2832761.19%, the unit price of $0.0000353 will jump to $1. Accordingly, if the unit price increases by 2832761.19%, then the Market Cap of Shiba Inu is bound to increase too.
Thus, the Market Cap of Shiba Inu will be increased by 2832761.19% which will be approximately $549.132 Trillion. This means a jump from the current Market Cap of $19.983 Billion to $549.132 Trillion. Now! Is that even possible?
This figure of Shiba Inu Market Cap seems nothing more than fiction if compared with Global GDP as it exceeds it sweepingly. As per data provided by Statista, Global GDP stands at $93,863.85 Billion which is far less than the figure we just came up with.
So? Can Shiba Inu Market Cap be more than Global GDP? The answer is obviously NO! For the Shiba Inu coin to hit the mark of $1, Global GDP has to increase manifolds which seems awry keeping the Global recession in mind with the outbreak of Covid Pandemic, US-China rivalry, and global trend from outwards to inwards.
Amidst it all, the answer to the question of – “If Shiba Inu coin will reach $1 mark by 2022”, will be No. Shiba Inu coin won’t be hitting the $1 mark no matter how much the Shiba Community is hoping for the miracle to happen.
Will Shiba Inu Reach $1 By 2025 And How?
The answer to Shiba Inu reaching $1 by 2022 wasn’t positive. But on the same end, what happens if we increase the time period from 2022 to 2025? Can Shiba Inu reach the $1 mark by 2025? Let’s probe further and find answers!
As we all know, for Shiba Inu to hit the $1 mark, the global GDP needs to increase otherwise it’s a wrong equation altogether. Accordingly, if by 2025, Global GDP increases, then Shiba Inu will obviously reach $1. (hypothetically)
Now, if we look at earlier figures and Global GDP estimates, then it isn’t possible to overturn GDP to such a level. The 2024 Global GDP estimate by Statista is $110,882.23 Billion which is less than the estimated Market Cap of Shiba Inu at $1 which is $550 Trillion. Moreover, a jump to $550 trillion from $110,882.23 Billion in 2024 to 2025 is nothing but RIDICULOUS giving us a clear answer to whether Shiba Inu will reach $1 by 2025.
Thus, to put it simply. Shiba Inu won’t be reaching the $1 mark by 2025.
As we have already covered the “Will” question regarding SHIB and the possibility of $1, let’s now shift to the “HOW!” Let’s find out under what circumstances will Shiba Inu reach the $1 threshold.
How Can Shiba Inu Reach $1?
Although answers haven’t been positive so far regarding the SHIB jump to $1, we have another possibility that can give a much-needed breather to the SHIBA Army! This another possibility shifts the room from the “Will” question to the “How” question for Shiba Inu.
So let’s dive deeper into how can Shiba Inu reach $1!
With TOKEN BURNING, there’s a possibility for Shiba Inu to reach $1.
We all know what token burning is and if you don’t know it, then here’s a simple explanation for you. In the crypto world, token burning is nothing more than stock buyback in financial markets. Some of the circulating tokens are deposited into unused crypto wallets where they completely cease circulating in the market, in turn decreasing the supply of tokens.
This isn’t something new and numerous organizations have adopted this method to increase the value of their token. Even Shiba Inu has adopted this strategy as with decreased supply, the value of token surges (this rule isn’t always applicable and many firms have gained nothing from token burning). Shiba Inu gifted 500 Trillion SHIB tokens to Vitalik who burned and donated almost all the tokens creating a frenzy among the SHIB investors. Nevertheless, everything turned out great in the end.
Now! If Shiba Inu adopts the same strategy and burns it’s token creating a dip in its total supply of 1 Quadrillion, then there might be some hope for SHIB to hit the $1 mark.
Shiba Inu started great and it’s going great too, but looking at the trends, the dips in the growth charts seem concerning. The bullish trends aren’t something new in the Crypto world, but it becomes more concerning if this becomes a norm.
So far, Shiba Inu has been riding on popularity, but how long will it last with nothing major to back it up? As we all know, AMC Entertainment plans to welcome Shiba Inu into its online payment platform, but it would be just a drop in the ocean. For Shiba Inu to actually grow or maybe reach the $1 threshold, it needs to move beyond being a movie ticket payment method to something more universal.
However looking at the trends now, the answer to “Will Shiba Inu reach $1” becomes as clear as a day which is NO!!
Featured Image Credits: The Sun