Will Shiba Inu (SHIB) Reach $1?
Will Shiba Inu reach $1? Just how high up can the “Dogecoin Killer” Shiba Inu reach in the next few years?
Interestingly, the wording of Shiba Inu ‘Wooofpaper’- commonly referred to as the white paper - and their SHIB promotional campaigns isn’t as dedicated to going above $1 as it is directed towards outperforming Dogecoin. In fact, the official Shiba Inu website describes SHIB as an “ERC-20 only token (that) can remain well under a penny and still outpace Dogecoin in a small amount of time.” Hence the nickname Dogecoin killer.
But this hasn’t stopped Shiba Inu traders and crypto market analysts from speculating on whether SHIB will reach $1 and working out the different factors that they believe will help the token hit this target.
Dogecoin has already launched several online campaigns, albeit unsuccessfully, aimed at catapulting the meme currency above $1. This then implies that if Shiba Inu is to beat Doge, especially when it comes to per-token-price, it too has to set its target above $1.
But considering that there currently are only 135 Billion Dogecoins and 1 Quadrillion Shiba Inu tokens, is a $1 valuation of SHIB tokens actually feasible?
And if feasible, when will the doge killer get there?
We answer these questions, tell you if Shiba Inu will eventually reach $5, and what it may be worth by 2025 in this Shiba Inu buying guide.
But first, we look take a brief look at its current price and how it got here.
Shiba Inu Current Price
At the time of writing, CoinMarketCap lists Shiba Inu’s price as $0.000026. Shiba Inu currently has a fully diluted market capitalisation of $25 Billion, a circulating supply of 394.8 Trillion SHIB coins, and is ranked position 30th on CoinMarketCap’s list of largest cryptocurrencies.
The Dogecoin Killer launched on 1st August 2020, and Coingecko has its listing price as $0.000000001492, which effectively places its ROI today at 1,700,000%. Interestingly, Shiba Inu’s price remained unhinged, and it reported minimal action eight months after the launch. Its price chart only burped in mid-April, implying that this price jump and attractive ROI were only accumulated in the last two months.
But can it sustain this momentum? More importantly, can this momentum help Shiba Inu (SHIB) reach $1?
So, Will Shiba Inu Reach $1?
The crypto community is sharply divided with regards to Shiba Inu’s ability to reach $1, but the general feeling is that the SHIB token will not come anywhere near $1 in the foreseeable future. And to understand why it is not feasible for the coin to reach $1, you only need to look at Shiba Inu’s maximum token supply.
The coin’s maximum token supply is capped at 1 Quadrillion tokens, which implies that Shiba Inu would amass a $1 Quadrillion market cap if the token were to reach $1. This is more than 20X the national GDP for the US in 2020 and 500X the current market capitalization of the entire crypto industry.
At the current price, Shiba Inu would need to grow its value by 10 Million per cent to reach $1. This translates to consistent growth of more than 714,000% for the next fourteen months if it hopes to reach parity with the dollar by the end of 2022 or 200,000% per month (consistently) for the next four years if it expects to reach $1 by December 2025.
After running through these numbers, crypto market experts and investors are confident that it will be highly unlikely for Shiba Inu to reach $1 this year or any time soon.
But a large market supply isn’t the only handle that Shiba has to jump on its path towards $1. Others include:
- Lack of adoption
Unlike such cryptocurrencies as Bitcoin and Ethereum that derive much of their value from massive adoption and cutting-edge technology, Shiba Inu is yet to attract the attention of serious investors, let alone institutions. Nigel Green - the CEO of deVere Group - cautions traders from investing in such altcoins as Shiba Inu because they “have no inherent value” thus have the greatest risk of burning an investor.
- The fact that it is a joke
Shiba Inu is described by the official Shiba Inu website as “an experiment” in building a community with a mission of outpacing Dogecoin. This can be translated to mean that Shiba Inu is a joke Crypto designed to outpace yet another joke crypto (Dogecoin).
- Diminished social media hype
However, unlike Dogecoin that is fuelled by social media hype created by such prominent investors and celebrities like Elon Musk, Mark Cuba, and even Snoop Dogg, the SHIB token is yet to gain enough hype to influence meaningful price action. Crypto analysts at FX Street are fearful that if Shiba Inu fails to recover, it may lose the little social media hype it has, which would be suicidal to the ERC-20 token.
These hindrances notwithstanding, how high up can Shiba Inu reach in the foreseeable future? Can it reach $5?
Read Also: Could Shiba Be A Millionaire-Maker Coin?
Will Shiba Inu Eventually reach $5?
Given the volatility of the crypto market and the unpredictability of coin prices, it is often hard to predict the future value of virtually any digital currency. Shiba Inu is no different. Nevertheless, and taking into account such factors as its massive total maximum supply and lack of sufficient social media hype, the general feeling within the crypto community is that it will be hard for Shiba Inu to reach $5 anytime soon - possibly ever.
With 1 Quadrillion SHIB tokens in supply, getting to $5 would mean accumulating the unutterable market capitalisation of $5 Quadrillion. Further, at the current price, the Shiba Inu token would need to grow by an inconceivable 50 Million per cent to reach $5.
You now see why it will be almost impossible for Shiba Inu tokens to reach $5 or even $1 in the foreseeable future. But what will SHIB tokens be worth in 2025?
What Will Shiba Inu Be Worth in 2025?
Though confident that Shiba Inu may never reach $1, the crypto market is interestingly bullish about Shiba Inu’s short-term price action. Analysis reports and experts commentaries indicate that SHIB token prices will be higher in 2025 than they are today. Here are some of the forecasts:
Wallet Investor, the highly reputable technical analysis and price prediction website, indicates that Shiba Inu token prices may rise to $0.000038 by this time next year before growing further and reaching $0.000081 within the next five years.
Crypto analysts at Coinpedia are also bullish on Shiba Inu future prices. They expect the coin to continue riding the back of Dogecoin’s popularity and such other factors as FOMO pushing up its prices. By the end of 2025, they estimate that the altcoin may be trading for between $0.0000663 and $0.0000457.
Technical analysis by DegitalCoinPrice website is also indicative of a bullish future for Shiba Inu tokens. It estimates that by December 2025, SHIB tokens will be selling for $0.0000789.
Check Out: Will Shiba Inu (SHIB) Make Me Rich?
Shiba Inu investors and crypto market analysts are hugely bullish about the coin prices in the immediate future. They are, however, hugely bearish about its long term price action and especially not convinced that the SHIB token will reach $5 or even come close to $1 in the near future.
Some of the key factors that analysts believe will prevent Shiba Inu from reaching these price levels include its bulky size and the apparent lack of intrinsic value. They also believe for a token that pegs its price action on community acceptance and hype, Shiba Inu has failed to attract enough social media hype or celebrity endorsements to thrust it towards $1.
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