Will Shiba Inu Coin reach $1000, $100?
|Current Market Cap||$4.3 B||Higher|
|Trading Volume||$68.3 M||Steady|
Shiba Inu Latest News
- DeFi TVL: $0.593 M [Not Ranked]
- The Shibarium network has processed 723,832 blocks with an average block time of 5 seconds. There have been 2,940,738 total transactions, involving 1,246,744 wallet addresses. The gas tracker indicates a value of 1.67 Gwei. Daily transactions are roughly around 40.5K [Trending Lower].
- Shibarium Network Snapshot:
- Total Validators: 12
- Total BONE Staked: 28,050,362.6905
- Shibarium Block Height: 725,470
- Heimdall Block Height: 647,002
- Shiba Inu Trading Volumes for the last 6 months:
- Mar: $260M, Apr: $206M, May: $106 M, June: $129M, July: $126M, August: $301M.
Shiba Inu, Buy or Sell, Crowd Poll
Net Buy Rating = Buy%-Sell%
- July 1st: +20.0%
- August 1st: +20.5%
- September 1st: +32.0%
- September 20th: +44.2%
Will Shiba Inu Coin reach $1000? About Shiba Inu
Shiba Inu originated as a meme coin and this meme coin gained popularity and value quickly, with investors attracted to its cute charm and endorsements from figures like Elon Musk and Vitalik Buterin.
Shiba Inu aims to be an Ethereum-based alternative to Dogecoin, which uses the Scrypt mining algorithm.
The Shiba Inu ecosystem includes ShibaSwap, a designated DEX, and plans for the development of SHI, a stablecoin, and a financial ecosystem. The community has also focused on increasing token burns and exploring partnerships and adoption as a means of payment.
The community behind Shiba Inu recognized the need to move beyond being a meme coin and focused on developing a utility for the token. They launched various projects such as Shiba Eternity for gaming, Shibaverse for the metaverse, Shibarium as a layer 2 blockchain, Shibaswap as a decentralized exchange, and more.
The use cases for Shiba Inu have expanded, with an increasing number of merchants accepting SHIB as a form of payment. Shiba Inu has gained traction in the gaming industry, with the game Shiba Eternity receiving positive reviews and downloads. Additionally, the entry of Shibaverse into the metaverse space holds promise for future growth.
Shibarium L2 Blockchain is now LIVE.
- Unique Selling Point (USP): Cost efficiency is at the forefront, making transactions on this blockchain faster and more affordable. Access to the massive and loyal Shiba Inu community is the other major strength of Shibarium
- Shibarium bridges the Ethereum Network and itself, allowing for fast and secure chain transfers. Users can delegate tokens on Shibarium to earn rewards.
- BONE is the Gas Token for Shibarium. A substantial portion of BONE is designated for the primary role in their system: VALIDATORS. It will also be the token that DELEGATORS stake to earn rewards and play a central role in governance. With the renouncement of the BONE contract, no further minting will be possible.
- Self-Sovereign Identity (SSI) on Shibarium allows users to control their identity and assets in a digital wallet, challenging the current norm where corporations profit from user data.
- The governance system will be divided into four parts, each corresponding to one of the core tokens of the ecosystem. Each token will govern a specific aspect of the system:
- Shib: Governs the community.
- Bone: Powers the community’s technologies.
- Leash: Offers protection and exclusivity.
- Treat: Empower community projects.
Will Shiba Inu Coin reach $1000? Calculations
In order for Shiba Inu to reach $1000, it would need to increase by a factor of 13,58,69,565. At $1000, SHIB’s Market Cap will be $ 597826 Trillion. If Shiba Inu were to grow at a rate of 25% each year, it would take about 84 years to reach $1000. Let us evaluate this data
- Quality of Investment- Moderate
- Growth required to reach $1000- Not Feasible (Example: Bitcoin was priced at $0.1 in October 2010. 12 years later, It is 22000 times higher)
- Market Cap at $1000- Not Feasible
- Time required to reach $1000 if Shiba Inu were to rise at 25% per annum- Not Feasible
Considering the criteria Quality of Investment, growth required, and time required, Shiba Inu has NO chance of reaching $1000. Let us analyze it further
Is it possible for Shiba Inu to rise 13,58,69,565 times?
Shiba Inu would need to increase by 1,358,696,560 times. However, looking at the case of Bitcoin, which rose by 1,400 times in 10 years, it is not realistic to expect Shiba Inu to grow by such an enormous amount even under favorable market conditions.
Can we forecast accurately that a token will grow at a rate of 25% every year for the next 84 years?
No, a token cannot maintain a steady growth rate, and a span of 84 years is a significant length of time. Therefore, it is impossible to accurately predict the growth rate of crypto for the next 84 years.
It is highly unlikely that SHIB would be able to sustain a consistent growth rate of 25% over such a long period of time.
Will Shiba Inu Coin reach $1000? Conclusion
- Shiba Inu has some good as a token.
- It is a moderate investment case.
- Shiba Inu cannot achieve the necessary growth rate within the given time frame.
- Reaching a market cap of $589 trillion is currently not feasible.
Although Shiba Inu’s utility has expanded beyond being just a meme coin, considering all factors, the chances of SHIB reaching $1000 within the specified time are highly unlikely.
Will Shiba Inu Coin reach $100?
To reach $100, Shiba Inu will have to rise 13285505 times. This translates into a market cap of $58456 trillion. This is impossible to achieve.
Realistically speaking, Shiba Inu will not be able to reach any of these targets. The best-case scenario is 1 cent and that too if most of the Coins are burnt.
Also Read: Shiba Inu Price Prediction
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.
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