Will Shiba Inu coin reach $1?

forexbrokr (74)in LeoFinance • 3 years ago (edited)

No, Shiba Inu coin will not reach $1 because it is a scammy shitcoin that is headed to zero.

You’re seriously asking, will Shiba Inu coin reach $1?

Where do we even begin with this one...

I guess we should start with the current SHIB price sitting at $0.00000673.

Can you even express a number that low in words?

Honestly though, I can’t.

So if you know, please help me out by leaving it in the comments.

Shiba Inu coin, on a fun $1 themed background.

Could Shiba Inu reach $1?

The market capitalisation (or market cap) of a cryptocurrency is calculated by multiplying its current price by its total circulating supply.

In the case of SHIB, which currently has a circulating supply of around 589,359,362,358,402 coins and a price of around $0.00001138, the market cap is around $6.7 billion.

For SHIB to reach $1, its market cap would have to increase to around $589.4 trillion, which is more than 87,000 times its current market cap.

While this may sound like a possibility given the recent surge in interest and popularity of meme-inspired cryptocurrencies like SHIB, it's important to note that such a massive increase in market cap is practically impossible.

Remember, it was just a few months ago we had Shiba Inu coin dropping HARD.

To put this into perspective, as of writing this post, the current total market cap of ALL cryptocurrencies combined is around $1.25 trillion.

LOL.

Furthermore, the current market cap of SHIB is already significantly higher than what many consider to be its fair value.

Unlike other cryptocurrencies like Bitcoin, which have a finite supply, SHIB has no limit to the number of coins that can be produced, making it susceptible to inflation and devaluation.

What would it take for Shiba Inu coin to reach $1?

If you’re still convinced that buying meme coins is your ticket to crypto riches, let’s just stop and do the math required for Shiba Inu coin to reach $1.

The sheer magnitude of the increase in market cap required for such a feat is simply too large to be realistically achievable.

To reach $1, SHIB would need to increase by approximately 87,987,936% from its current price of $0.00001138.

This can be calculated as follows: ($1 - $0.00001138) / $0.00001138 x 100% = 87,987,936%

So, yeah… SHIB would need to rally by around 87,987,936% in order to reach $1.

Shiba Inu coin won’t be reaching $1

The bottom line is that Shiba Inu coin is a scam that you should be avoiding like the plague.

If buying SHIB was your introduction to crypto then don’t beat yourself up too much.

Not all is wasted.

You may have lost some money on your first investment, but Shiba Inu has become your gateway into the world of cryptocurrencies.

A world full of exciting, decentralised projects that not only have the potential to make you rich, but also to change the world.

Shiba Inu coin won’t be reaching $1.

But now you’re here, you have a world of viable investment possibilities at your fingertips.

Best of probabilities to you.

Direct from the desk of Dane Williams.

Why not leave a comment and share your thoughts on Shiba Inu coin reaching $1 within the comments section below? All comments that add something to the discussion will be upvoted.

This Shiba Inu coin blog is exclusive to leofinance.io.