Shiba Inu cryptocurrency, also known as SHIB, has continued to attract investors and has also seen a rise in popularity in the cryptocurrency market over the past few years. As of the latest report, the number of current SHIB holders has reached 1.28 million, reflecting a growing interest in the meme-inspired coin.
How many shiba inu coins are there? Because of this, there are many holders of Shiba Inu, with over 1.2 million wallets holding the coin as of late 2022.
In order to reach a price of $1 per token, Shiba Inu would need to rally more than 12,400,000% from its current token price. While there are potential catalysts that could trigger a solid bullish run for the meme cryptocurrency, hitting that ambitious target price is virtually impossible.
Although Shiba Inu's nearly 1.2 million investors have showed seemingly no aversion to the risk of a pullback, a multitude of factors suggest the bulk of its short-term gains could prove fleeting.
Shiba Inu burn rate and coin burn schedule
There is no formal schedule for burning SHIB. However, the Shib community has remained consistent, averaging about 21 burns a day, at slightly over a quarter million tokens, as of March 2023.
The current circulating supply of Shiba Inu is 589.34T. This is the total amount of SHIB that is available.
According to a hypothetical burn computation, the Shiba Inu could burn 111 trillion SHIB every year with help from ShibaSwap, Shibarium, and virtual land renames. Shiba Inu (SHIB) may have seen its most ambitious price forecasts yet, as a community member recently posited that the asset could rally to $1.
A $100 investment one year ago would have gone a long way
In eliminating six zeroes, Shiba Inu delivered a historic gain of approximately 46,000,000% in a year. That was enough to make investors who'd put a little over $2 to work at midnight on Jan. 1 millionaires.
1, 2021, Shiba Inu tokens were trading hands at a price of $0.000000000077, and today they trade at about $0.00001114. That's a gain of 14,467,432%. In dollar terms, had you invested $100 on Jan. 1, 2021 and held on until today, you'd be sitting on an absolute fortune worth almost $14.5 million.
A $100 investment at the time could have bought 196,078,431,373 SHIB. That investment would be worth an astonishing $2,237,254.90 today based on a price of $0.00001141 for SHIB at the time of writing. Shiba Inu hit an all-time high of $0.000084 in October 2021.
Let us look at all the data in hand to determine whether Shiba Inu can reach 1 cent. Therefore, combining the criteria of quality of investment, growth required, and market cap at 1 cent, it is impossible for Shiba Inu coin to reach 1 cent.
To reach 1 cent,Shiba Inu will have to rise 900x.At 1 cent,Shiba Inu's market cap would be woth around 5.8 trillion. If SHIB were to grow at the rate of 25%every year,it would take Shiba Inu about 30 years to reach 1 cent.
To reach 1 cent, Shiba Inu would have to increase in price by a factor of 1111. Assuming a 50% burn rate and continuing with the current development plans, SHIB can reach $1 in 31 years.
Binance becomes the biggest holder of Shiba Inu (SHIB).
Etherscan.io data reveals that the world's largest cryptocurrency exchange, Binance now holds a staggering 83 Trillion SHIB, worth $738,549,274 ($738.54M) in two of its associated wallets tagged “Binance 28” and “Binance 8”.
Ironically, the largest holder of Shiba Inu is a dead wallet that contains the contents of Vitalik Buterin's Shiba Inu burn. Buterin is the co-founder of Ethereum and was gifted 50% of the total supply of Shiba Inu to market the coin.
How many shiba inu coins are left? There are around 589 trillion SHIB tokens left following Ethereum co-founder Vitalik Buterin's burn of 40% of the total supply in 2021 and the launch of the SHIB burning portal in April 2022.
How much is 10000000 SHIBA INU in US Dollar? 10000000 SHIBA INU is 72.072021 US Dollar.
This is because Shiba Inu is a digital financial asset. A $1,000 investment in 2020 would be worth around $24,250,000 today.
How Much Could You Be Worth If You Invested In Shiba Inu (SHIB) In 2020? If you had invested in Shiba Inu (SHIB) in August 2020, you would have nearly made over 4,293,000% return on your capital. A $1,000 investment in 2020 would be worth around $24,250,000 today.
Is Shiba Inu a Risky Investment? It may appear valuable given its market cap, but it's worth is purely speculative. Keeping this in mind, it is not a good idea to put too much money into shib. Shiba inu cryptocurrency can help you make a quick buck, but it is not a long-term investment.
1000000 SHIBA INU is 6.711078 US Dollar.
We predict that the SHIB price will rise to $0.000036 in 2023.
Shytoshi Kusama revealed that just 5% of Shiba Eternity profits will be used to burn Shiba Inu from supply.
Shiba Inu Community burns 50.76 million SHIB in a day.
The goal of the coin burn mechanism is to create a deflationary effect on the Shiba Inu token,which can potentially increase the value of each individual token over time.By reducing the total supply of tokens,the project aims to create scarcity and increase demand,Which can drive up the price of Shiba Inu tokens.