will shiba inu coin reach 10 cents
SHIB, which exists as an ERC-20 token on the Ethereum blockchain, has more than 1.2 million holders. From there, ADA should rebound higher as what happened previously. When SHIB was on the way up, many token holders were wondering if Shiba Inu will reach 1 cent. Many publications, YouTube videos, and forum postings say that Shiba Inu (SHIB) cryptocurrency can or will reach a value of $0.10. In January 2022, NFT trading volume totaled $17 billion. Put another way, a $1 investment at midnight on Jan. 1 would have made you a millionaire by late October. The Shiba Inu Coin will be released on the 27th of October, so its possible that the price could go up to 10 cents. Shiba inu coin revealed plan to hit $0.10 Shib token news. For more context on why its so unlikely anything could boost SHIB to a penny, lets take the example of Bitcoin. Shiba Inus biggest catalyst yet may be days away. SHIB or DOGE: Is Shiba Inu better than Dogecoin in 2023? While Dogecoin has a high chance of reaching $1 in the future, we can't say the same for Shiba Inu, at least not in its current state. Shiba Inu isn't a blockchain. The news heightens Shib Inu's visibility and offers more purchasing access to prospective buyers. Will Shiba Inu reach 1 cent? While SHIB has seen massive price increases in the past, the chance of hitting large multiples becomes smaller as the market cap of the asset grows. Not even in our lifetime. With the hype around Dogecoin, other meme coins enjoyed some interest. Shib coin is a new cryptocurrency that has been designed for the Shiba Inu, famous for being one of the smallest and cutest dog breeds in Japan. Will Shiba Inu Reach $1 USD? Despite its parabolic price jumps in the last few months, reaching $10 will be an uphill task. Nicknamed the "Dogecoin killer," many. Overall, the Shiba Inu price was lower after the crash than it had been earlier. Price prediction websites, crypto experts, and even Shiba Inu investors are all confident that Shiba Inu will recover and continue rising moving forward. Sometimes, we refer to such cryptocurrencies as penny cryptos. Platform has 3 active product that include Shibaswap, leash and Bone token. In order for SHIB to hit $0.001, the development, public test, and launch of Shibarium would have needed flawless execution. But will it be hard for Shiba Inu to reach $10? Therefore, the SHIB coin is not something new. Wallet Investor expects Shiba Inu token prices to rise to $0.00007 by end of 2022 and rise to a further $0.0002 by 2025. Some believe that the circulating supply of SHIB will decrease drastically after the launch of the Shibarium Layer 2 network, which will burn SHIB for every transaction. That's unlikely to happen. Although it eventually pulled back to finish 2021 higher by a "pedestrian" 46,000,000%, Shiba Inu enthusiasts still believe it can reach $0.001 (one-tenth of a penny). The only way that shiba inu eats zeros is if the quantity of coins drops drastically. The possibility of such price action taking place is theoretically impossible, given that the global GDP for all countries is just around $100 trillion. In other words, it removes coins from the circulating supply and, in theory, makes each remaining token that much more valuable. First, a little background on Shiba Inu's path so far. There you have it, Shiba Inus goal is not to reach $10 or even $1. From the fundamental side of things, the Shiba Inu team is working on several products that are geared towards making SHIB a more attractive token to hold. As of this writing, there's no set date for when Shibarium will be beta-tested in public view. Shiba Inu (SHIB) will never hit $0.10 or 10 cents since it is not commercially viable. Buy These 2 Stocks in 2023 and Hold for the Next Decade, Warren Buffett's Latest $2.9 Billion Buy Brings His Total Investment in This Stock to $66 Billion in 4 Years, 2 Stocks That Are About to Make Their Shareholders Richer, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, finish 2021 higher by a "pedestrian" 46,000,000%, virtually no chance of this lofty price target becoming a reality, Copyright, Trademark and Patent Information. (. We can safely assert that a cryptocurrencys long-term viability is mostly dependent on technology and community, based on our experience. At that kind of size, even a 2x price increase would have required a massive amount of capital to flow into SHIB. Despite its impressive performance in the past couple of years, Shiba Inu is very unlikely to reach $1 or 50 cents because its circulating token supply is simply too large. Invest better with The Motley Fool. It is not anchored on unique blockchain technology - just hosted on Ethereum, it has not achieved a medium of exchange status, and it has no real value. Most meme coins have a very large circulating supply, which results in a low price per unit. . The Shiba Inu project recognizes the potential of the virtual world and has launched non-fungible tokens to tap into its ecosystem. Being an emotional investor taints our judgment and causes us to make poor financial judgments. Well explain why SHIB will never achieve 10 cents in this essay. The hype surrounding Shiba Inu ( SHIB) is still there amid ongoing discussions on whether it faded away or not due to recent on-chain metrics. In August 2020, when Shiba Inu made its debut, it was one of thousands of nondescript tokens looking to make a name for itself in the digital currency space. While $0.001 might be a target SHIB holders like to dream about, it's far likelier Shiba Inu gets sent to the doghouse in 2023. It was met with much skepticism after traders witnessed the massive rise and steep decline of Dogecoin who came before the Shiba Inu coin. We can expect 1 cent mark probably in year 2022. Shiba Inu has a circulating supply of 549.063 Trillion SHIB tokens. The Shiba Inu coin price rose by 5% on the day, and it continued to increase as NowPayments also incorporated the coin as a payment channel for e-commerce platforms. Because Shiba Inu is constructed on Ethereum, these considerations have slowed significantly the SHIB networks development. More than 1500 ATM across world now support Shiba token along with many marketplaces also starts accepting Shiba token as payment. This question seems to come up on social media multiple times per day. To Shiba Inu (SHIB) reach $0.10, the total market cap of SHIB has to be 549 Trillion x $0.10 = $54.9 Trillion. To add, only 715 merchants on online business directory Cryptwerk were accepting SHIB as a form of payment, as of January 2023. While anything is possible in the cryptocurrency space, as SHIB has previously demonstrated, there's virtually no chance of this lofty price target becoming a reality this yearor ever. The answer to this question is no, it will not reach 10 cents. Almost every cryptocurrency lost more than half its value in 2022, and the price of SHIB dropped by about 80%. Unfortunately, Shiba Inu (SHIB) will never reach $0.10 or 10 cents because it is financially illogical. The first decentralized cryptocurrency was. The only significant difference was the creator built Shiba Inu on the Ethereum network. The Motley Fool has positions in and recommends Ethereum. Can SHIBA INU Coin Price Reach $0.01, $0.10 or $1.00? SHIB/USD eight-hour chart. On Reddit, Twitter, Facebook (Meta), YouTube, and other social media sites, the SHIB community is active. We know Shiba completely community backed currency and more people keep holding their investment it keeping pushing price upward. Are you lookingfor a chart analysis toolthat doesnt distract you with community messages and other noise? This is a big win for Shiba Inu and its investors. Shiba Inu, on the other hand, has a supply of 549 trillion tokens. No consumer protection. In this article, we look at 3 cryptos to buy , Is it still worthwhile to invest in Solana after the FTX scandal and the recent crashes? From the above chart, we see that for SHIB to reach 10 cents, the total market cap of Shiba Inu has to be 549 Trillion x $0.10 = $54.9 Trillion. Shiba Inu is of course not the only contender in the meme coin sector. No, Shiba Inu will probably never reach and sustain a $10 token valuation. SHIB is currently trading around $0.000023 with a market capitalization of nearly $15 billion. //