Will Shiba Inu (SHIB) reach $1? The truth is, no one can tell with certainty whether it will reach $1 or not. Someone may argue that at Shiba Inu’s current token supply, this is an impossibility. Another may argue that Shiba Inu’s price history defies all logic and that $1 per SHIB token is possible between now and 2025.
We believe SHIB Inu can reach $1, but the earliest this can be achieved is in 2030 or thereabout.
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Anything earlier than that is possible but is a bit of a stretch. The reason for a 2030 prediction is to allow for the overall crypto market cap to accommodate such a market cap logically.
If Shiba Inu were to trade at $1 today, that would give it a market capitalization of $549.55 billion. That is slightly larger than the market cap of Ethereum today. Essentially, it would mean that the majority of the investable capital getting into crypto would be going to Shiba Inu, and that’s pretty unrealistic.
Alternatively, it would mean that the overall cryptocurrency market would have to expand exponentially within a very short time. For context, it would necessitate a situation where Bitcoin has a market capitalization in the 10s, if not 100s, of trillions of dollars. It would also mean that Ethereum would also be trading in the trillions of dollars in market capitalization.
For such a situation to become true, there would be an above-average devaluation of fiat currencies and massive adoption of cryptocurrencies in a very short time. So far, nothing of the sort seems to be happening. If anything, governments are taking measures to curb the risk of inflation.
After the stimulus packages of 2020, Central Banks are taking measures to help slow down the risk of hyperinflation. They include but are not limited to raising interest rates, and going slow on bond-buying, as is the case in the EU.
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In terms of adoption, the use of cryptocurrencies is on the rise globally. However, cryptocurrencies still constitute a very small portion of everyday transactions. In fact, they constitute less than 10% of transactions. In a world where many educated people still have no idea how cryptocurrencies work, it is unlikely that mass adoption will happen in a very few years, say between now and 2025.
However, going into the 2030s and beyond, there is a pretty good chance that Shiba Inu could hit $1. For starters, by 2030, the crypto market will have expanded quite significantly to a point where it can accommodate an extremely high market cap for altcoins like Shiba Inu.
For context, there is a good chance that by 2030, Bitcoin could be trading at $1 million. Since it is the primary driver to the crypto market, if Bitcoin hits such a price, the rest of the market would move to reflect the same. While $1 million per BTC may seem high, consider the fact that its block rewards are shrinking over time. For instance, in the upcoming block halving of 2024, Bitcoin block rewards will shrink to just 3.125 BTC. With the growing institutional interest in BTC, this shrinking supply could put significant upside pressure on BTC and the entire market.
Besides that, Shiba Inu fundamentals will be much better than they are now going into the 2030s. This is evident in the kind of progress that Shiba Inu has made in the 1.4 years it has existed.
Shiba Inu started as an average meme coin with nothing to offer but ride on Dogecoin’s coat. However, since then, it has proven itself to be worthwhile crypto. The supply has shrunk considerably, it has a DEX, and adoption is happening. Since these factors will only get better with time, it is safe to predict SHIB at $1 by 2030.
That said, not many people can hold on to a cryptocurrency that long. Considering how volatile the market is, you need diamond hands to hold a meme coin and ride the waves for 10-years. So, in the short term, is Shiba Inu a good investment for 5-years?
2021 is pretty much over, so a 5-year plan means holding SHIB until 2026. For all the good things that are happening to Shiba Inu, it is a good investment for the next 5-years.
For starters, the total supply of Shiba Inu is set to shrink significantly within the next 5-years. Thanks to Shiba Inu’s deflationary nature, and Vitalik Buterin’s burn, Shiba Inu token supply is now less than 50% of what it was at launch.
As more people transact in SHIB and more tokens are burned, the supply will drop even further. Going by simple demand and supply economics, this shrinking supply will help drive up the value of SHIB in the next 5-years.
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Then there is the aspect of adoption. While it started as a worthless token with no use case, Shiba Inu has already been used for everyday transactions. A few months ago, Shiba Inu was added to Shopping.io and is now one of the cryptocurrencies that can be used for making payments on major e-commerce sites like Amazon. More recently, a French restaurant started accepting Shiba Inu for payments.
As its price goes up and more people become aware of SHIB, there is a good chance that major corporations will start accepting it for payments. Dogecoin sets a positive precedent on this front.
Before the pump that started in 2020, Dogecoin was a joke coin. Today, it is accepted by more than 15 major corporations and many small companies. Shiba Inu has a good chance of following a similar pattern, and that’s good for its intrinsic value.
Simply put, you are unlikely to go wrong with Shiba Inu regardless of whether you are investing with the next 5-years or 10-years in mind. With the exponential rate at which the cryptocurrency market is growing, Shiba Inu will reach $1 at some point and give investors exponential returns in the next 5-years.
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