When will Shiba Inu Reach US$1? Seems like Not Anytime Soon

Crypto experts have put forward mixed predictions regarding the probability of Shiba Inu reaching US$1

Shiba Inu! The most popular meme coin amidst the crypto crash with over 30% increase in its price in the highly unstable crypto market. The meme coin has transformed itself into one of the most important cryptocurrencies for crypto investors. The growth graph is quite spectacular for a meme coin to experience in this crypto market. SHIB tokens are outperforming Bitcoin with an all-time of 30%. The happy Shiba Inu dog is making every crypto investor happy in this unstable condition. Thus, crypto investors are getting more attracted to the meme coin and losing high interest in Bitcoin for its drastic crypto crash. At the time of publication, Shiba Inu price was $0.00001002 after a pullback of 1.23% over the last 24hrs. As the currency is making such a move, there could be an opportunity for shorting if the SHIB price drops. Nevertheless, many market experts have put forward mixed predictions regarding the probability of Shiba Inu reach US$1. Among them is Lark Davis who has claimed that SHIB price will not reach $1.  

Crypto experts are claiming that it may take ten years or ten thousand years for Shiba Inu reach US$1. Here, cryptocurrencies like Bitcoin have reached US$68k in November 2021, and the Shiba Inu price is struggling to reach US$1. SHIB army is implementing multiple strategies to increase the rate of cryptocurrency prices for crypto investors. There are four developmental projects set to launch in the crypto market such as BONE token, Shibarium blockchain, Shiba collectible card game, as well as Shi stablecoin. Crypto experts think that the Shibburn portal has added a boost to the rise in SHIB price amidst the crypto crash ecosystem. The strategy to decrease the supply and increase the demand is indeed working in their favor. The total supply of Shiba Inu in the crypto market is 589,627,201,259,188 while the circulating supply is 557,978,289,318,967.

Shiba Inu's potential to reach US$1

The potential path of reaching US$1 is very unconventional and it can take ten or ten thousand years to hit that crucial point. It has delivered a high return on investment to crypto investors at 43,800,000% in 2021 with certain help from the meme coin influencer, Elon Musk. The high number of token circulation is making the meme coin difficult to achieve the US$1 milestone in the crypto market. Crypto experts have predicted that the market cap of SHIB should be US$589.6 trillion if it reaches US$1. Then the meme coin will become one of the most expensive digital assets in the nearby future in the crypto market. SHIB was released on the Ethereum blockchain as an ERC-20 token with a total supply of one quadrillion coins.

But as the project grew, the creators of Shiba Inu wanted to turn it into a full-fledged decentralized ecosystem and transfer 100% of the rights to the community to manage the protocol without a governing body. The token is available on several major exchanges, including Binance, Coinbase, FTX, and WazirX, to name a few. But its most convenient and popular success has been SHIB's acceptance in the Binance Exchange. The Shiba Inu ecosystem also holds a decentralized exchange called Shiba Swap, which was launched at the same time as the native SHIB token. Shiba Inu's popularity among crypto investors might impress some crypto investors, but its lack of real-world utilities might become a negative factor for several others.  

Shiba Inu Price Prediction for 2022

The crypto domain started considering Shiba Inu as a worthy investment since the token was accepted for listing in the Binance exchange. The crypto witnessed its price skyrocketing exponentially last year, within a very short period. However, it did not succeed at keeping its position. But experts predict that mid-2022 might hold a different story for the SHIB token. Due to the increasing popularity of cryptocurrencies all over the world, SHIB may also catch the attention of investors looking for an affordable investment option. But studies reveal that as its price fell almost 60% compared to its all-time high, several investors are evading trading SHIB tokens. Nevertheless, several large 'whales' have recently purchased massive amounts of Shiba Inu coins which also indicates that their prices may rise in the future.