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Bittime - If you own $SHIB, then this is an article you should read. I will logically break down the future price of Shiba Inu and its Potential
Impressive Performance
Despite its impressive performance in recent years, Shiba Inu is very unlikely to reach $1 or 50 cents because the supply of circulating tokens is too large. However, that does not mean that Shiba Inu does not have huge profit potential.
Important Points About Whether Shiba Inu Coin Hits $1 or 50 Cents
With a current circulating supply of 589 trillion Shiba Inu coins, this meme crypto asset has a market capitalization of $5.56 billion.
Also read Shiba Inu (SHIB): Get to know Dogecoin Competitor Memecoin
If SHIB reached $1 with the current circulating supply, Shiba Inu would have a market cap of $589 trillion, which is unlikely to happen.
Token Burning can Help
The only way for the price of Shiba Inu to reach $1 or 50 cents is if the circulating supply is reduced substantially through a token burning program.
Also Read Inflationary vs Deflationary Tokens: Understanding the Difference and Impact
The Shiba Inu team recently launched Shibarium, which is a layer 2 solution that burns SHIB for every transaction, which can drastically reduce the supply of SHIB over time.
CoinCodex price algorithm predicts that SHIB could increase by more than +292% by the end of 2025 and +456% by 2030.
A Brief Introduction to the Shiba Inu
Shiba Inu Token is a meme coin created in August 2020 by an anonymous individual named Ryoshi & developed by prominent Developer Shytoshi Kusama
Its name is based on the Shiba Inu dog on Dogecoin, and the two are similar. The only significant difference is that the creators built Shiba Inu on the Ethereum network. Although it was launched in 2020, the coin became popular in 2021 after Vitalik sold 50 trillion SHIB tokens and donated the proceeds to India's COVID fund.
Also Read Vitalik Buterin: One of the Founders of Ethereum
SHIB rose more than 85,000,000% in one year and reached a record high on October 28, making it the most prominent example of a major surge in crypto history
Its meteoric rise has led to much speculation as to whether it could climb higher. In this article, we will discuss the prospects of Shiba Inu reaching a major price milestone and explore the SHIB price prediction.
Short Answer
So the short answer to whether the Shiba Inu coin can reach 50 cents is No. The main limiting factor is the circulating supply of SHIB, which at current numbers, would result in a market cap of nearly $294.5 trillion if the meme coin reaches $0.50.
We will admit that this answer could change dramatically in the future. Some people believe that the circulating supply of SHIB will increase drastically with the increasing use of the Layer 2 Shibarium network, which burns SHIB for every transaction.
Shiba Price (SHIB)
According to Market Bittime, the current price of SHIB/USDT (26/02/24) is at 0.00000965 with an increase of +0.20%
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There are no indications to suggest that the burn rate will be enough to push the price of Shiba Inu to 50 cents. However, SHIB burning could still contribute to Will Shiba Inu coin reach 50 cents?
Conclusion
Unless something fundamental, like volume, changes, Shiba Inu cannot reach $1, or even 50 cents for that matter. But it will probably hit 1 cent after a few years of token burning and the deflationary mechanism launched with Shibarium.
In any case, Shiba Inu is one of the best cryptos under 1 cent to buy, thanks to its thriving ecosystem and strong community.
How to Buy Shiba (SHIB) at Bittime
You can buy and sell Shiba (SHIB) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Shiba (SHIB) is available on Bittime with the market pair SHIB/IDR . To be able to buy SHIB IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Shiba (SHIB) on Bittime .
Monitor price chart movements of Shiba (SHIB), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
significant from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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