WILL SHIBA INU UP $1?

Let's break it down:

As of 09-03-2024:

Rank: 10

Market Cap: $25.34B

Market Dominance: 1.01%

Circulation Supply: 589.29T

All-Time High: $0.0000885 (2021-10-28)

Considering the current market cap, each Shiba is valued at $0.000043. Reaching $1 would need an impossible $589.29 trillion market cap, given the total crypto market is $2.52 trillion.

Even if Shiba's supply is reduced to $25.35 billion, the current market cap, it's still impractical.

However, Shiba burns coins on Shibarium's layer 2. In January 2024, 9.9 billion Shiba were burned. To hit $1, 589.26465 trillion Shiba must burn. At the current rate, it'd take 4,960 years.

Conclusion: $1 is unlikely, but holding could still benefit due to Shiba Inu's aggressive coin burning.

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