Presenting without any competitive edges or differentiation, SHIB looks to have no chance of hitting $0.01 in 2023.
With the current circulating supply, Shiba Inu is unlikely to reach 1 cent any time soon. The overall market cap of Shiba Inu has been fluctuating around $4 billion for the last couple of weeks.
It would be extremely difficult for Shiba Inu to reach 1 cent. Even during SHIB's all-time high in October 2021, when the token was trading at $0.0000881, SHIB would have needed to increase in price by 113x to hit a price of $0.01.
But experts predict that significant volatility could follow soon. Cryptocurrency experts at Changelly have predicted that when Shiba Inu (SHIB) breaks out of this flat range, the price of the token can rally to $0.00000861 in the short term and trade as high as $0.
But how many tokens need to be burned to generate a price of $1? All else equal, shrinking the supply to 7.5 billion tokens would theoretically result in a price of $1, based on Shiba Inu's current value of $7.5 billion.
Given this slowdown in price momentum, the chances of SHIB ever hitting $1 now appear slim – since the price would need to increase by over 9,700,000% to reach that level.
SHIB is known for its high supply,which started at one quadrillion tokens. Over the years,that supply has gradually reduced due to the Shiba Inu coin burn.In two years,more than 410 trillion tokens have been burnt. >>
However, Shiba Inu's price Prediction of whether it's a long-term investment is now a discussion. Analysts have various views on Shiba Inu's price in ten years which is said to increase to US$0.002 in 2030, whereas others predict it may cross the US$0.009 level in 10 years.
At that pace, it would take more than 7,100 years to achieve the goal. On a positive note, that's a little sooner than one of my previous predictions of more than 10,000 years. But the bottom line is this: Not only will Shiba Inu fail to reach $1 in 2023, but it's also unlikely to get there in our lifetime.
No, Shiba Inu won't reach $1 in 2023. It's highly unlikely to hit $0.01. However, it is possible that Shiba Inu could still move much higher in the coming months. That aforementioned launch of Shibarium certainly could spark increased interest in Shiba Inu.
Shiba Inu burns coins daily. At the current rate, SHIB holders burn slightly over a quarter million tokens everyday.
According to Shiba Burn Tracker, 83 billion Shiba Inu tokens have been burned throughout 2022. The Shiba Inu burn rate has fallen from a high of 31 billion in the month of May 2022, to just 661 million in November 2022. It's a 99% decline.
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.
Could Shiba Inu make you a millionaire? Although the numbers for Shiba Inu may look minuscule, SHIB has the potential to increase its price in the future and even make a careful investor a millionaire, although it is still a long way before reaching the likes of Bitcoin (BTC) and Ethereum (ETH) in value per unit.
Unless something fundamental such as its volume, changes, Shiba Inu cannot reach $1, or even 50 cents for that matter. But it might reach 1 cent after some years of token burns and deflationary mechanics.
Given the ongoing battle between bulls and bears, combined with the project's extremely high token supply, it's unlikely that Shiba Inu will ever hit the $1 region – unless there is a massive change in its tokenomics.
At the very top of the ChatGPT's list of cryptos that will explode in 2023 is AiDoge ($AI), a crypto that breaks all records when it comes to its presale.
On top of that, all of the other best cryptos to buy in 2023 have ERC-20 tokens and run on the Ethereum blockchain. That's a significant vote of confidence in Ethereum and demonstrates that this remains the number one platform for development in the crypto world.
The Shiba Inu (SHIB) price shows signs of a potential bounce at a horizontal support area. However, the direction of the long-term trend is still unclear. As a result, an initial upward movement may occur. However, it is still unclear how this fits with the long-term trend.
We have narrowed down our choice of crypto coins that are expected to pump 30x before 2024 to eight. Prime suspects among them are Love Hate Inu (LHINU), DeeLance (DLANCE), Metropoly (METRO), Ecoterra (ECOTERRA), and RobotEra (TARO), as these tokens represent a new era in crypto development.
The all-time high of SHIBA INU is $0.000032. This all-time high is highest price paid for SHIBA INU since it was launched.
According to the recent tweet by the aforementioned data platform, within the past 24 hours, the SHIB army managed to destroy an entire 8,862% more SHIB than on the previous day. In total, this time, they have removed 50,188,691 meme coins from the circulating supply.