It's hard to imagine that a meme coin like Shiba Inu has anything in common with a top cryptocurrency like Bitcoin, right? Well, it does! Like Bitcoin, no one knows the true identity of Shiba Inu's founders. All that is known is that SHIB was founded by someone, or possibly a group, known as Ryoshi.
Despite nothing being known about its founder, Shiba Inu has grown exponentially in the past two years. Shiba Inu's slogan of Dogecoin Killer is no longer just a slogan. Shiba Inu now has solid prospects of dethroning Dogecoin as the top meme coin.
As of April 2022, Shiba Inu has a market capitalization of $13.69 billion and ranks 15th by market capitalization. SHIB is currently trading at $0.00002499 and is available on all major cryptocurrency exchanges.
Can Shiba Inu Hit $10?
The price of the Shiba Inu Coin has been steadily rising, but it's never going to reach $10. It's just mathematically impossible given the huge number of SHIB in circulation. If Shiba Inu were to reach $10, its total market cap would be larger than the economies of the US and several other western economies combined. This is highly unlikely, especially for a meme coin.
Besides the insane market cap, Shiba Inu hitting $10 would necessitate an unrealistic level of demand. For context, it would require that Shiba Inu increase by 40,209,087.2%. This is highly unlikely for two reasons: First, Shiba Inu is already up by over 30,000,000% from its launch price.
For it to do another 40,000,000%, there would have to be a more compelling reason besides hype. Secondly, unlike in 2020, when SHIB and DOGE were getting all the attention in the meme coins market, there are dozens of new, lower cap meme coins with higher growth potential.
Clearly, Shiba Inu hitting $10 is highly unrealistic. A more realistic goal for Shiba Inu would be $1.
Don't Miss: Shiba Inu (SHIB) Price Prediction
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Conclusion
It is safe to conclude that Shiba Inu cannot reach $10. It would give SHIB a market cap bigger than entire countries, making it highly improbable.
Instead of gambling on SHIB reaching $10, it would be best to invest in high-value cryptocurrencies. These are cryptocurrencies with a strong use cases and are growing in adoption. You need to remember that cryptocurrencies are risky investments and can lose all your money.
Open an account with eToro, deposit some funds with USD, and finally – buy Shiba Inu from just $10.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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