• Shiba Inu (SHIB) was one of the first memecoins to attract investors’ attention during the bull run in the cryptocurrency market.

  • SHIB became very popular in the second half of 2021, attracting the attention of global investors with its low price and trillions of supply.

  • Despite its popularity, the mathematical reality of SHIB reaching a value of $1 is daunting, requiring a market value of tens of trillions of dollars.

Shiba Inu: The Rise of the Memecoin

Shiba Inu (SHIB) became one of the first meme coins to spark excitement among crypto enthusiasts during the market’s bull runs. These periods are characterized by heightened optimism and buying activity, often with little regard for price. If Dogecoin is considered number one in the meme coin space, SHIB can rightfully be called number two.

Shiba Inu's impact on the second half of 2021

Many cryptocurrency experts divide the 2021 bull run into two parts. The first part saw Bitcoin's value rise to $64,000 in April, while the second part saw Bitcoin's value climb to $69,000 in November. It was during the second phase that Shiba Inu attracted a lot of attention. With Elon Musk's support for Dogecoin in February and March this year, SHIB attracted investors' attention in the second half of 2021 with its low price and trillions of supply.

Shiba Inu's Global Popularity

Characterized by its numerous zeros, this Ethereum token quickly gained popularity around the world. The creator of this currency is unknown (just like Bitcoin), its supply is one quadrillion, and it has quietly been listed on major exchanges, including Binance. The rise has been particularly notable in less affluent communities in the southern hemisphere. The phrase "Shiba Inu will reach $1" has been echoed in many countries, including Turkey. Its sharp growth has been attributed to its numerous zeros. The rise of this coin began in August and continued rapidly in September and October, peaking at $0.000086 at the end of October.

Shiba Inu Market Forecast and Mathematical Reality

All sorts of wild predictions are circulating for SHIB. Hopes, thoughts, ideas, good investments and bad investments - these are all relative concepts. Math, however, is an irrelevant concept. To understand what needs to happen to $100 worth of SHIB to turn into $1 million, we need to do some simple math. SHIB is currently priced at around $0.000007, and for $100 to turn into $1 million, it would need to rise 10,000 times. This would bring the price of SHIB to $0.07, a level it has never reached before. The highest level recorded in October 2021 was $0.000086.

A Daunting $45 Trillion

SHIB currently has a market cap of around $4.5 billion. The peak seen here was $40 billion. Therefore, for SHIB to grow 10,000x, its market cap would need to reach $45 trillion. The entire cryptocurrency market is currently valued at just over $1 trillion. Even with this calculation, SHIB still wouldn't reach $1. For Shiba to reach $1, it would need to rise more than 100,000x, which would put its market cap in the tens of trillions of dollars. Therefore, it is crucial to consider the mathematical realities when investing in cryptocurrencies.