Shiba Inu coins hit 50 cents. The beginning of 2024 has been really up and down for the cryptocurrency market. Bitcoin, the main one, had big changes in its price, and it went past $52,000.
As the market changes, Shiba Inu (SHIB), one of the most popular meme coins, also changes. Last month was especially good for SHIB, as it gained enough to test an important price level of $0.000001.
The question is whether SHIB will see a large price increase and reach a valuation of $0.50, and if so, when.
Can Shiba Inu reach 50 cents?
Taazafacts used machine learning techniques to anticipate SHIB’s future price movements and whether it would hit the half-dollar threshold.
How much is Shiba Inc. worth in 2050? Looking at the furthest potential price projection, SHIB will still be well below one cent by 2050.
However, algorithms forecast exponential growth, with the token erasing zeros and reaching a $0.000401 valuation, representing a nearly 4,000% rise over current levels.
Shiba Inu circulating supply
To realize its full potential, the token requires considerable investor support and less supply than demand, which would drive its price upward.
As of this writing, Shiba Inu has a circulating supply of 589.289 trillion SHIB. This represents a supply deflation of 410.66 trillion SHIB (41% since May 2021) and 72.66 trillion SHIB (11% since October 2021).
To reach a price of $0.50, Shiba Inuto’s market capitalization would need to increase significantly.
Currently priced at $0.000009796, with a circulating supply of 589,289,855,579,434 SHIB and a fully diluted market cap of $5.79 billion, obtaining a price of $0.50 would require a huge increase in market capitalization of around $294.64 trillion. An astounding sum, especially given that the United States of America had a GDP of slightly more than $20 trillion in 2021.
Is there a future for Shiba Inu?
An growth in market capitalization should coincide with investor demand and trust in the token’s future potential, causing its price to rise. However, such a sharp price increase would necessitate significant market activity. It could be influenced by things like investor attitude, market developments, and token acceptance in various applications.
To counteract the token’s inflationary economics, the development team has implemented frequent burns that permanently eliminate tokens from the circulating supply.
The SHIB burn rate has increased substantially by 3,400%, permanently removing nearly 52 million SHIB tokens from circulation. This extreme deflationary strategy removed 410,708,459,364,680 SHIB from the initial supply, showing a significant shift in the asset’s scarcity and potential worth.
Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.