Will Shiba Inu reach 1 Dollar in 2030?

Will Shiba Inu reach 1 Dollar in 2030?

Will Shiba Inu reach 1 dollar in 2030? It would take Shiba Inu 15 years to reach $1 if Shib were to rise 50% every year and 50% of Shib coins were burnt

Will Shiba Inu reach 1 dollar? Some Statistical Scenarios

Price as of June 23rd $0.00001022
How many times will the price have to rise to become $1? 97847
Market Cap as of June 23rd $5.6 B
How much is 97847 times $5.6 B? $548 Trillion
If SHIB were to rise 20% a year, how many years will it take to reach $1? 64 Years
If Luna were to rise 50% a year, how many years will it take to reach $1? 29 Years
If Luna were to rise 50% a year and also Burn 50% of the Coins 15 years

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 is today.
  • It took Ethereum 4 years to increase its Market Cap from 5 Billion (same as Shiba Inu today) to $ 500 Billion but the market cap fell from its peak and it is at $122 Billion Today

Can Shiba Inu reach 1 dollar in 2030? The Burn Scenario

To reach $1, Shiba Inu will have to increase 87000 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 burnt 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 the coins, the price would be $1.15.
  • Another way to look at it is the current forecasted price for 2020 is 0.00016, which translates to a market cap of $ 88 Billion. Shib will have to burn 99.999% of all the coins.

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.

Will Shiba Inu Coin reach $1? Conclusion

There are many barriers why Shiba Inu will struggle to reach $1

  1. Competition: There are 17000 cryptocurrencies and perhaps 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 coin will find it difficult to add value. Also, from a portfolio perspective, makes sense to diversify positions across multiple areas
  2. Impossible to execute burn beyond a level: Practically speaking, it is unlikely so many coins will be ever burnt. Burning 50% or 99.9999% is impossible for a variety of reasons. Foremost amongst them is a simple fact that not all investors would be seeking abnormal returns. Some would be happy with much lower returns and would not be keen on burning their coins

That said, even without a burn, Shiba Inu’s price may increase much more than 14 times over the next 8 years. That in combination with burn could take the price closer to $1 but the chances of reaching $1 are almost zero.

Why SHIB Will Not Reach $1 in 2022? Reasons

  1. Trading Volume: We have noticed in the past that when the price crashes, there has been a rise in trading volume as more investors try to take advantage of the lower price. This time things are different. Despite the price of Shiba Inu falling below $0.000010, there is the least interest among the investors. The trading volume in the last 24 hours is down over 30%.
  2. Whales: Shib price in the past has been mostly driven by the Whales. The Whales have come to the rescue of Shiba on many occasions. This time, the whales seem to have deserted Shib and allowed to price of SHIB to have a free fall. However, one data shows that SHIB is the biggest altcoin or the favorite altcoin among the ETH whales.
  3. YTD Performance: Crypto market is down and almost all the cryptos are lower and this has been the case since January 2022. But what is more concerning is that SHIB is one of the worst-performing crypto this year. SHIB has lost nearly 80% of its value this year.
  4. Social Media Sentiment: The Social media sentiment for SHIB is worse. The buzz is highly negative and there seems to be no improvement in it. Even the search volume of SHIB has crashed.
  5. Technicals: The technicals for SHIB are highly worrying. The support is even below $0.000007 and even for the next one month, the signal is SELL.

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

Will Shiba Inu reach 1 cent?

Will Shiba Inu reach 1 dollar in 2030? Here is how Shiba Inu can reach $1 in 2030

Source link