Can Shiba Inu (SHIB) Price Hit $0.5 or Even $1? Let’s Break It Down

There have been many predictions about Shiba Inu price even though the token has faced heavy volatility in recent years. TheCryptoBasic on X takes a closer look at whether the SHIB price could ever reach $0.5 or even $1.

Shiba Inu was a breakout star in the 2021 bull market. The SHIB token jumped over 100,000,000% in one year. It reached an all-time high of $0.000088 in October. A key factor was Vitalik Buterin’s burn of 410 trillion SHIB. Multiple exchange listings also fueled the surge.

Shiba Inu grabbed global attention during that cycle. The momentum soon faded. A wider crypto crash, worsened by the Terra collapse and FTX implosion, pushed SHIB down from its peak. Speculation about its long-term potential is still strong.

What It Would Take for SHIB Price to Hit $0.5 or $1

TheCryptoBasic noted that from its current price of around $0.00001290, Shiba Inu would need to climb by about 3,610,008% to touch $0.5 and 7,220,116% to reach $1. These are massive jumps that sound more like science fiction than finance.

If one SHIB token reached $0.5, the market cap would stand near $295 trillion. At $1, the valuation would balloon to $589 trillion. 

To put that in perspective, global GDP is around $100 trillion. This scale shows why many experts view the targets as nearly impossible under current supply conditions.

The Challenge of Shiba Inu’s Massive Supply

Shiba Inu currently has a circulating supply of about 589 trillion tokens. This huge number is the biggest roadblock to higher price levels.

 Even though the community has already burned more than 410 trillion tokens since launch, the existing supply still makes $0.5 or $1 appear far out of reach.

TheCryptoBasic pointed out that Shibarium, Shiba Inu’s layer-2 blockchain, offers some hope.

 A portion of its transaction fees gets converted into SHIB and permanently burned. Greater adoption of Shibarium could reduce supply over time. Yet the pace of these burns would need to accelerate massively to make a dent in supply at the scale required.

Can Utility Push the SHIB Token Higher?

Beyond supply reduction, SHIB’s future price also depends on how useful it becomes. The project has expanded its ecosystem with tools like ShibaSwap, blockchain games such as Shiba Eternity, and Shib: The Metaverse. These initiatives aim to give Shiba Inu token more real-world use cases.

TheCryptoBasic also noted that some figures in the community believe adoption and utility will be the keys to unlocking higher valuations. For example, lead developer Shytoshi Kusama has expressed confidence that SHIB could gain mainstream attention before reaching ambitious price levels.

Read Also: Bitcoin & Ethereum Had Their Run – Now Solana’s Big Chapter Is About to Open

The question of Shiba Inu price targets like $0.5 or $1 continues to stir debate. Historical rallies prove that SHIB price can surprise the market, but current supply dynamics make such predictions extremely difficult to imagine.

Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.

intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

CaptainAltcoin
Logo