Shiba Inu is one of the cryptocurrencies on the market that has made some people quite a bit of money. It seems that the project is growing in popularity by the day. And that’s because people are seeing the potential for the coin. The question on many people’s lips is whether or not the token will ever hit the $1 mark. Let’s find out more about this meme coin.
Will Shiba Inu Ever Hit $1?
At the time of writing, the price of Shiba Inu price is $0.000053 USD with a 24-hour trading volume of $5,050,030,976 USD. The current CoinMarketCap ranking is #11, with a market cap of $29,046,435,440 USD (29 Billion). It has a circulating supply of 549,095,509,738,353 SHIB (549 Trillion).
You can see that there are plenty of SHIB coins. The theory is, the higher the coin supply, the harder it is for it to grow. So, it may not grow as fast as some other coins on the market. However, the value can rise up to $1 but it is highly unlikely to happen in the foreseeable future. Let's do some math.
At the current price, Shiba Inu would need to grow its value by 10 Million per cent to reach $1. To hit $1 by the end of 2022, it will have to grow at a steady rate of more than 769,000% for the next thirteen months. Another scenario is, it will have to grow at a consistent rate of more than 204,000% per month for the next four years to reach $1 by December 2025.
Obviously, it's impossible. Crypto market experts and investors are very confident that it will be highly unlikely for Shiba Inu to reach $1 any time soon. Peter Mallouk, Creative Planning CEO, tweeted that SHIB could eventually plunge to zero. Whereas, the AI-Based cryptocurrency forecasts provider, WalletInvestors predicts that SHIB will approximately hit $0.000182 in five years.
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How Many SHIB Coins are there?
At the time of writing, the circulating supply of Shiba Inu is 549,095,509,738,353 SHIB (549 Trillion). The token is down 8.81% in the last 24 hours. If you would like to buy the coin, the top cryptocurrency exchanges for trading in SHIBA INU stock are currently Binance, Mandala Exchange, OKEx, FTX, and Huobi Global.
Shiba Inu is one of the most popular cryptocurrencies in the market. The value of the coin has risen and fallen over the months. It will be interesting to see how the project develops in the next few years.
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