- Shiba Inu’s $1 dream faces massive market cap hurdles ahead.
- Token burns slow, limiting Shiba Inu’s price growth potential.
- Market volatility keeps Shiba Inu’s price stuck within narrow range.
Shiba Inu (SHIB) continues to spark bold predictions of a potential run to $1, but the figures suggest that reaching this target may be a distant dream. With a circulating supply of over 589 trillion tokens, a price of $1 would require an astronomical market cap of $589 trillion. This figure dwarfs the global GDP, which stands at around $114 trillion, and would be nearly five times larger than the entire cryptocurrency market cap, which is currently valued at $4 trillion. According to experts, the sheer size of SHIB’s supply remains its greatest obstacle.
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Challenges in Reducing the Circulating Supply
While Shiba Inu’s development team has implemented token burns in hopes of lowering the circulating supply, the current pace of burns has not made a significant dent. The burning process, although ongoing, is still too slow to facilitate major price increases. Experts point to this issue as a key barrier to SHIB achieving any substantial growth in its value. Without large-scale burns or a significant uptick in demand, the coin’s value is likely to remain stagnant.
Current Market Trends: A Volatile Ride
In recent market activity, SHIB showed a minor uptick of 0.13%, trading at $0.00001223. However, its 24-hour trading volume decreased by over 22% compared to the previous day, totaling $200.54 million. The price fluctuations tell a story of the volatility that has come to define meme assets like Shiba Inu. For instance, the price peaked at $0.00001226, only to fall below $0.0000120 by the evening, before making a slight recovery above $0.0000122 by morning. These shifts underscore the unpredictable nature of SHIB’s price movements, which continue to follow the highs and lows typical of meme coins.
Source: CoinMarketCap
A Narrow Range with Limited Potential
Shiba Inu’s price action has remained largely within a narrow range in recent weeks. Despite some moments of brief gains, the market has shown little sustained momentum in either direction. The token’s market cap currently stands at $7.21 billion, a number that mirrors its fully diluted valuation, highlighting that price shifts have not significantly impacted SHIB’s overall value. Analysts suggest that unless there is a surge in demand or the burn process accelerates dramatically, Shiba Inu’s price is unlikely to experience any significant breakthroughs.
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