This meme token is on an absolute tear right now, and speculators are taking notice.
As of this writing, the overall cryptocurrency market carries a market cap of just under $2.7 trillion. That's up from about $800 billion at the start of 2023. And it's close to record territory of just shy of $3 trillion.
There's no question that bullish fever has taken over the cryptocurrency industry. Whether it's positive sentiment in equity markets, or the recent approval of spot Bitcoin ETFs, these tailwinds are propelling some of the most speculative tokens to new heights.
Just in the past month, Shiba Inu(SHIB 0.51%) has soared more than 200% (as of March 25). Investors have taken advantage of a monster run-up for this token's price.
But can it reach $0.01 by the end of the decade? Let's see if that forecast 34,000-fold rise, from today's price of $0.000029, is a possibility.
Seeing how strongly the dog-themed predecessor Dogecoinwas catching on with the crypto community, Shiba Inu's founders wanted to create a more functional blockchain. Operating on top of the Ethereum network, Shiba Inu tokens can be used within its ecosystem of decentralized applications.
That sounds good in theory, but I suspect not many people deal with these tokens for anything useful. Instead, Shiba Inu's price movements are driven purely by speculative behavior. We're literally seeing this play out over the past month, since there haven't been any fundamental changes to the network.
Those who are skeptical of the industry will raise questions about the viability of probably every cryptocurrency. The thinking goes that this technology is a solution trying to find a problem to justify its existence. While I don't believe this is the case with a very tiny minority of digital assets, I think it's certainly the case with the vast majority of them. Shiba Inu belongs in that latter category.
There are some innovations in the works to bolster Shiba Inu's utility. Shibarium, a layer-2 scaling solution, hopes to speed up transaction processing and lower fees for users. Supporters want this upgrade to result in the crypto gaining more steam in applications like the metaverse and non-fungible tokens.
But it doesn't have a sizable developer community working on advancing its progress toward greater utility. This limits its chances of long-term success.
The numbers don't add up
There are currently 589 trillion Shiba Inu tokens in circulation. That's a gargantuan figure that is difficult to wrap one's head around. If we assume that Shiba Inu gets to the coveted $0.01 mark, that implies its market cap would equal $5.89 trillion. That seems virtually impossible.
Bitcoin, the world's oldest and most valuable cryptocurrency, has a market cap of $1.4 trillion right now and astronomically greater potential for price appreciation over the long term than Shiba Inu does.
At that nearly $6 trillion market cap, Shiba Inu would be more valuable than Microsoft and Apple combined. That seems totally unreasonable.
Even though Shiba Inu isn't likely to soar 34,000-fold over the next six or so years to reach $0.01, it doesn't mean some investors aren't still interested in owning it. Last month's price rise shows the positive feedback loop at play, where fear of missing out (FOMO) takes hold of speculators before everything comes crashing down. Gambling on short-term price movements like this is a losing game.
Investors who want growth potential in their portfolios should consider Bitcoin as the best crypto to buy. Plus, there are other growth tech stocks to look at as well.
Neil Patel and his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Bitcoin, Ethereum, and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
Shiba Inu token (ticker: SHIB) is a decentralized cryptocurrency created in August 2020 by an anonymous person or group using the pseudonym "Ryoshi". It is inspired by the Shiba Inu (柴犬), a Japanese dog breed, which also serves as the mascot for Dogecoin, another cryptocurrency with meme origins.
https://en.wikipedia.org › wiki › Shiba_Inu_(cryptocurrency)
tokens in circulation. That's a huge sum. If the token's price did reach $0.01 one day, it would imply that the total network would be worth a jaw-dropping $5.89 trillion. To be clear, I don't think this is likely to ever happen.
Shiba Inu Price Prediction 2025,2026.. 2030. According to Binance price prediction input for Shiba Inu, the value of SHIB may increase by +5% and reach $0.000023 by 2030.
To become a millionaire through Shiba Inu, one needs to own a substantial amount of the token. Based on current market prices, for instance, if Shiba Inu reaches a price of $0.00003, having 33 billion SHIB tokens would make someone a millionaire. At present prices, this amount of SHIB would cost approximately $515,000.
He expects this ambitious rally to occur following a breakout from a multi-month descending trendline that has prevented SHIB from recording a massive uptrend since 2021. If the breakout rally materializes, Shiba Inu's price would skyrocket by 7,379% from its current level.
Shiba Inu is expected to cost between $0.0045 and $0.0058 in 2040, with an average market price of $0.0049. This range represents market expectations and takes into account several possibilities as crypto is expected to attain widespread usage.
So yes, Shiba Inu once had millionaire-making potential. However, Shiba Inu is much better known these days, which could limit the future upside in the price. Shiba Inu's market cap is currently about $14 billion, down from $39 billion at its peak in 2021.
SHIB Needed to Make $100K if Shiba Inu Rises 10x, 50x or 100x. To achieve $100,000 with SHIB rising 10x, you would need to have 558,659,217 tokens. Currently, these tokens would cost $10,000. In a scenario where Shiba Inu increases 50x, you need 111,731,843 SHIB to make $100,000.
Therefore, an investor would need approximately to buy 12.5 billion SHIB coins to reach a value of $1 million if SHIB were to hit its ATH price again. This means that you would need to spend around $110,125 today buying SHIB coins to make around 9x – 10x and become a millionaire.
Cryptonewz believes that the price of Shiba Inu should rise over time but in a volatile manner. The experts on the site believe that SHIB will reach as high as $0.000165 by 2030.
By January 2025, 5SCAPE could potentially increase 1000x from its current value, driven by its expanding ecosystem and the growing VR market, making it a compelling investment. The token will soon witness a boost and could breach $1 mark post launch.
With this in mind, our Shiba Inu price prediction estimates a bull market peak price of around $0.000150, with potential lows of $0.000030 and an average price of $0.000080 by the end of 2025.
Leading on-chain metrics and price prediction firm Telegaon has forecast that Shiba Inu could climb above $0.01 in 2040. According to the prediction, Shiba Inu could hit a price target of $0.05 (5 Cents) during the same year in 2040. That's 17 years from today, and there's a long way to go.
Cryptonewz believes that the price of Shiba Inu should rise over time but in a volatile manner. The experts on the site believe that SHIB will reach as high as $0.000165 by 2030.
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