Shiba Inu, the second-largest meme coin, had a wild weekend! After a steep decline, the asset is recovering, up 1.77% in the last 24 hours, currently trading at $0.000018. Last week was tough, with SHIB falling to $0.00001621 after a 3.76% drop, but now there’s a glimmer of hope. Shiba Inu hitting 1 cent by 2025 is an incredibly ambitious and highly unlikely goal. Here are a few reasons why:
1. Massive growth required
For SHIB to reach 1 cent, its price would have to increase by more than 55,734% from its current price. This is highly unrealistic in such a short period of time. While the cryptocurrency market is highly volatile and has seen large price increases in the past, this increase is extremely large, even by meme coin standards.
2. Huge supply
SHIB has a total supply of 589 trillion tokens. To reach a price of 1 cent, the market capitalization of SHIB would have to exceed trillions of dollars, which is much larger than the total market capitalization of the entire cryptocurrency market today (the capitalization of Bitcoin, the largest cryptocurrency, is only about 600 billion USD). Reaching 1 cent without a measure to reduce supply such as burning tokens is almost impossible.
3. Price prediction
According to predictions from analytics sites like Changelly, SHIB will not reach 1 cent before 2040. Instead, they predict a peak price of SHIB in Q4 2024 of $0.0000377, a positive growth but still far from the 1 cent target.
4. Whale activity
The actions of whales, who hold large amounts of SHIB, can create strong price movements. However, for SHIB to rise to 1 cent, there needs to be widespread and sustained participation from many more investors, not just whales. Currently, whale interest, while it can boost the price in the short term, is not enough to push SHIB to 1 cent.
5. Common market
The cryptocurrency market as a whole is influenced by many economic factors, including monetary policy and government regulation. Unless the entire cryptocurrency market experiences a comprehensive and explosive bull run, it will be extremely difficult for a coin like SHIB to reach 1 cent.
Conclude
Although the SHIB Army community is still very optimistic and has high expectations for the price growth of Shiba Inu, it is an unrealistic goal for SHIB to reach 1 cent before 2025. However, the volatility of the crypto market can always bring surprises, and SHIB can still grow strongly in the future, but it cannot reach the 1 cent milestone so quickly.
