Due to its near unlimited supply, it may seem impossible for the price of the Shiba Inu (SHIB) to reach $1. But a fine reckoning suggests that it could be on this date as a result of the community’s supply reduction efforts.
What has the Shiba Inu (SHIB) done so far?
The Shiba Inu is currently trading with four ‘zero’ in the indices after deleting six ‘zeroes’ two years after its debut. SHIB hit an all-time low of $0.000000000056366 (10 zeros) in November 2020. But it has since seen an extraordinary increase of 23,731,965.8 percent. Then, by October 2021, erasing the ‘zeros’ while the first investors turned to millionaires. A truck driver became a millionaire by investing just $650 in SHIB in 2020.
While investors are waiting for SHIB to reach the top of $0.01, others have their eyes on $1. Now the million dollar question is: when will the Shiba Inu reach $1? And how many years will it take to get here?
When will the Shiba Inu discard all zeros? Here’s the math and that history
The only thing keeping the Shiba Inu from reaching $0.1 is the circulating supply of 549 trillion tokens. While it is impossible to reach $0.1, exceeding $1 is out of the question. For SHIB to reach even $1, it would have to have a market cap of $589 trillion. We can only see this when SHIB comes together in the market valuation of Apple, Microsoft, Tesla and Ford, which is ridiculous to be true.
To be precise, SHIB would need to ‘burn’ 99.99% of its circulating supply to consider reaching $1 in the future. Therefore, SHIB needs to reach a circulating supply of 6.1 billion instead of the current 549 trillion token supply.
The only thing that will get SHIB to reach its price targets is to constantly ‘burn’ large volumes of tokens every day. Therefore, the estimates for $1 come entirely from calculations based on token burns.
The good news is 150 million SHIB tokens have been burned in the last 24 hours today, as is the case at different rates every day. In other words, it has been permanently removed from circulation. While the number fluctuates daily, let’s say SHIB ‘burns’ 150 million tokens here daily to reduce its circulating supply.
Here is the date
If SHIB burns 150 million tokens every day, the number of tokens removed from circulation reaches 50 billion per year. Therefore, if 150 million tokens were burned every day, it would take about 10,000 years for the Shiba Inu to reach $1.
cryptocoin.com As you follow, the Shiba Inu is currently trading at $0.00001293. The trading volume for the last 24 hours is down. The token has melted 84.7% from its all-time high of $0.000008616 reached in October 2021.
