Will Shiba Inu Coin reach $1 by 2030?
Will Shiba Inu Coin reach $1? Yes, it is feasible as Shiba Inu Leadership and the community are building an ecosystem to drive token usage and burn. However, it is likely to take 50 years from now.
Will Shiba Inu Coin reach $10? No, Shiba Inu cannot reach $10
Will Shiba Inu Coin Reach $1 by 2030: Yes, Shiba Inu coin can reach $1 by 2030 but to attain this feat Shiba Inu will have to rise 117,000 times from its current price.
Shiba Inu Coin Price
Shiba Inu is one of the most dynamic cryptocurrencies in the market. It is one of the 3 tokens from the house of Shia Inu developers, the other two are Bone and Leash.
There are three reasons why we characterize Shiba Inu as one of the most dynamic cryptocurrencies in the market:
- While we initially characterized it as a jack of all trades, Shib is gradually building an ecosystem that will drive Shib consumption (L2, Metaverse, DAO, DEX, and Gaming).
- Second, shib has a community that drives coin awareness, usage, and burn.
- A combination of these two factors also makes Shib an increasingly accepted token for payment on many platforms.
Shiba Inu’s Performance Since June 2022
- June: +1.6%
- July: +10.2%
- August: -7.6%
- September: -10.1%
- October: +16.4%
- November: -27.8%
Investors and Token Holders want to know if Shiba Inu can reach $1. While it is a symbolic target, it also shows the potential of the Token. So here is our analysis
Will Shiba Inu Coin reach $1? Some Statistical Scenarios
If it sounds crazy that SHIB will be at $1 many years from now, just look at Bitcoin.
- Bitcoin was priced at $0.1 in October 2010. 12 years later, It is 188000 times higher.
- How much is $1 from today’s Shib price? 111,000 times higher.
We have run a simple scenario where we assume 25% growth every year. Is that possible? Absolutely! Particularly if the coin is burning 1-2% of the supply every year. At 25% growth every year, it would take Shib 50 years to reach $1.
Read our reasoning in the next section.
Check out our other Shiba Inu Articles
Will Shiba Inu Coin Reach $1? Favorable Reasons
Shiba Inu has had one of the most remarkable journeys it began in January 2021. Here is how Shiba Inu’s price Changed since December 2020:
- December 31, 2020 – $0.000000000119 (9 Zeros)
- December 31, 2021 -0.00003379 (4 Zeros)
- December 2022 – $0.000009 (5 Zeros)
The Launch of Shibarium: Shiba Inu is a token issued on the Ethereum blockchain. Transactions on the ETH blockchain are quite expensive due to the higher gas price. Further, the developers and the community no longer want the Shiba Inu coin to be called Memecoin. Expanding their ecosystem, Shiba Inu developers are working on their own blockchain platform, Shibarium which is expected to be launched in 2023. Once Shibarium is live, Shiba Inu will be free from the ETH blockchain and could rise faster on account of lower costs and increased demand for Shib Tokens
Bulls Are Back: Since the crypto market crashed, there was hardly any bull action as the surge that used to happen was always short-lived. However, in the last few days, it was noticed that the surge lasted for a couple of days and the crash has not been as brutal as it was the last few weeks ago. Therefore, it is clearly evident that the bulls are once again backing the SHIB and the price is expected to rise in near future.
Decrease in Crude Oil Price: The crude oil price has been under $85 in the last few weeks. As per our analysis, it was noticed that every time there was a surge in the price of Crude oil, the crypto market crashed. In the last few months, the price of crude oil has soared and it’s clearly reflected in the crypto price. However, in the last few weeks, the crude price has decreased, and this is helping the crypto market to recover.
Can Shiba Inu reach 1 Dollar? Risks and Caution
- Apple’s Market Cap Today is $2.42 Trillion. This is the highest for any company today. 20 years ago, Apple’s market cap was almost the same as Shiba Inu’s is today. A 200-fold increase.
- It took Ethereum 4 years to increase its Market Cap from 5 Billion (same as Shiba Inu today) to $ 500 Billion but the market cap fell from its peak and it is at $160 Billion Today.
- While the Bitcoin rise is legendary, it is also true that there are few other examples for SHIB to emulate. So while SHIB $1 is possible, there are only a handful of cases that support the possibility.
- Competition: There are 17000 cryptocurrencies and perhaps 10-50 of them that are quite differentiated. Shiba Inu which started as a meme coin is now attempting to offer almost everything (Payments, DAO, Metaverse, Layer-2 Blockchain, DeFi, etc).
- The problem with this strategy is that the best-performing coins are those that are heavily differentiated. A generalist coin will find it difficult to add value. Also, from a portfolio perspective, makes sense to diversify positions across multiple areas
- Impossible to execute burn beyond a level: Practically speaking, it is unlikely so many coins will be ever burnt. Burning 50% or 99.9999% is impossible for a variety of reasons. Foremost amongst them is a simple fact that not all investors would be seeking abnormal returns. Some would be happy with much lower returns and would not be keen on burning their coins
- Whales: Shib’s price in the past has been mostly driven by the Whales. The Whales have come to the rescue of Shiba on many occasions. This time, the whales seem to have deserted Shib and allowed to price of SHIB to free fall. However, one piece of data shows that SHIB is the biggest altcoin or the favorite altcoin among the ETH whales.
Will Shiba Inu Coin reach $1 in 2030? The Burn Scenario
To reach $1, Shiba Inu will have to increase 84,818 times from the current price. This is not impossible and there are many ways in which Shiba Inu Coin can reach $1.
- A significant number of Tokens will have to be burnt so that the price of each coin increases.
- For example, there are 549 Trillion coins in circulation today and if we were to burn 99.9999% of all the coins, the price would be $1.15.
- Another way to look at it is the current forecasted price for 2020 is 0.00016, which translates to a market cap of $ 88 Billion. Shib will have to burn 99.999% of all the coins.
The burn can be lower if many of Shib’s plans like Metaverse, Shib Swap, and Payment partnerships all take off and consume a lot of these tokens.
Shiba Inu Price Prediction $1: Conclusion
Shiba Inu can certainly reach $1 over the next 30 years if enough tokens are burnt and Shiba Inu implements the whole range of developments that have been promised. Further, the macroeconomic environment should mostly remain favorable during this period.
Will Shiba Inu Coin reach $10?
Given the time it would take to reach $1, Shiba Inu Coin is unlikely to reach $10.
How to Buy Shiba Inu?
Shiba Inu, the Ethereum-based Cryptocurrency is gaining with every passing day. Like most Altcoins, Shiba Inu has similar steps to purchase. Here are the steps for “How To Buy Shiba Inu”:
- Finding a crypto exchange that has Shiba Inu coins listed
- Create an account with the Exchange
- Verify your identity
- Fund the Wallet
- Make the Purchase
Finding a Crypto Exchange that Sells Shiba Inu
The very first step to buying a Shiba Inu coin is to find an exchange offering Shiba Inu for trade-buy and sale. There are many exchanges offering Shiba Inu coins however, one must make sure that the exchange comes with a built-in wallet. The wallet is where you will be adding the amount for trading Shiba Inu coins.
Create an account with the Exchange
Once the exchange is finalized, the next step will be to create an account with the exchange. For creating an account you will be required to enter your personal details like Name, Phone number, Email, and also Bank Account details.
Verify Your Identity
Once you have created your account, you will be required to verify your id. To verify your id, make sure you have your ID documents ready before you begin. In most cases, acceptable forms of ID will include a passport or driver’s license.
Fund the Wallet
Once your ID is verified, your account is activated. When your account is activated, you can deposit fiat currency. It can be the US Dollars or any of the other fiat currencies they accept. There are different methods of funding your accounts, such as bank transfers from a checking or savings account, PayPal, wire transfers, a cryptocurrency wallet or even a credit or debit card.
Make the Purchase
Once you have funded the wallet, you will now be able to purchase Shiba from the respective Exchanges.
Storing of Shiba INU
After your purchase of Shiba Inu has been processed, you have to store your cryptocurrency. While some platforms will store it for you, some people opt to store their investments themselves to reduce the likelihood they will lose their crypto to a hack.
Where to Buy Shiba Inu Coin?
There are several platforms where you can buy Shiba Inu. A few famous exchanges offering Shiba Inu are Binance, Crypto.com, Atomic Wallet, Voyager, SevenB, and KuCoin.
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.