Even so, this sharp rise was overtaken by the latest doubling of the Dogecoin price. For example, it would not be so outlandish to say that a cryptocurrency with a market cap of $10 million could potentially 100x in price over a long enough time period. So many factors stand in the face of the ERC-20 only token, blocking and preventing it from reaching a $10 valuation in the foreseeable future. The hype surrounding Shiba Inu ( SHIB) is still there amid ongoing discussions on whether it faded away or not due to recent on-chain metrics. Shiba Inu Prepares For A Rebound With 30% Upswing! This Key Level Will Is it possible for the coin to reach one cent? Dogecoins current supply is 132 billion coins, with about 5 billion new coins being added per year. SHIB Price Prediction, As we can quickly deduct from the table above, the likelihood of the Shiba Inu price coming anywhere close to $1 at current levels of circulating supply is simply not feasible. Well, for starters, Shiba Inu is at the time of writing valued at $0.000020. *Average returns of all recommendations since inception. Shib coin is a new cryptocurrency that has been designed for the Shiba Inu, famous for being one of the smallest and cutest dog breeds in Japan. Sometimes, we refer to such cryptocurrencies as penny cryptos. From the above chart, we see that for SHIB to reach 10 cents, the total market cap of Shiba Inu has to be 549 Trillion x $0.10 = $54.9 Trillion. On Wednesday, the price of Shiba Inu coinwhich trades as SHIBsurged 33% to reach an all-time high of $0.00005478. If the cryptocurrency market enters another bull run, SHIB could very well be one of the meme coins to explode. This means raising its price levels at a rate of 3.6 million percent per annum or 300,000% per month, without fail, for the next five years. Shiba currently based on Ethereum blockchain and it currently have no big utility apart from NFT and community. The price of Shiba Inu has dropped to $0.0000114 today, after news of financial problems at Silvergate Bank spooked the market. In any case, Shiba Inu is one of the best cryptos under 1 cent to buy, thanks to its vibrant ecosystemand robust community. So it is essential to research any cryptocurrency before you decide to invest in it. That's 1,000 trillion. Manage Settings Despite its parabolic price jumps in the last few months, reaching $10 will be an uphill task. This could drive the SHIB price to 1$. Shiba Inu Price Prediction: Can SHIB Price reach $3 in 2023? The most notable of these products is Shibarium, a layer 2 scaling platform for Ethereum. With an estimated 549 trillion SHIB coins still in circulation, per CoinMarketCap.com, a big burn event would be needed to pump up the value of each remaining token. This is especially true for Shiba Inu, which has only been around since the summer of 2020 and therefore doesnt have a long price history that would help us understand how SHIB tends to behave across crypto market cycles.
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will shiba inu coin reach 10 cents