Among the meme coins with the best growth indicators is Shiba Inu, which has jumped by 5,28%. In this regard, the crypto community is questioned if Shiba Inu will reach 1 cent by 2025. Although Bitcoin’s and SHIB’s prices have dropped by now, many speculations still surround these renowned cryptocurrencies. In this article, we will explore why.
Shiba Inu: the meme coin that rose from obscurity to billions in value
Shiba Inu $SHIB, originally a Dogecoin-esque meme project, has grown into one of the most recognizable cryptocurrencies on the market. Despite its meme origin, Shiba Inu demonstrates serious potential and has become the object of attention of both investors and traders.
One of the SHIB’s distinguishing features is its active and dedicated community, which promotes and supports the currency. The Shiba Inu community actively participates in various projects, including charity events and further development of the Shiba Inu ecosystem.
SHIB is also known for its vast total supply, which is paired with the very low price of one coin. This makes it one of the most affordable cryptos for many investors and ensures the currency’s high liquidity, making it attractive for short-term trading.
Unlike Dogecoin, which boasts its own blockchain, Shiba is based on the Ethereum blockchain. This strategic choice endows SHIB with many potential applications, as the token can seamlessly integrate into decentralized finance (DeFi) platforms.
Recently, Shiba Inu has been experiencing a shift from a simple meme coin to a more diversified asset, offering new features and capabilities. For example, Shiba Inu launched its Layer-2 Shibarium platform in 2023 with a burning mechanism in which SHIB tokens are burned with each transaction.
Moreover, the developers of Shiba Inu have launched their own DEX (Decentralized Exchange) ShibaSwap. The platform allows users to trade SHIB and other tokens like BONE and LEASH, and participate in the liquidity and staking program.
Can Shiba Inu hit the 1-cent mark?
Making the "1 cent dream" come true will be difficult for Shiba Inu. Even when SHIB was at its all-time high of $0,0000881 in 2021, the value should be multiplied by 113x to reach $0,01.
Achieving immense growth will lead to a $5,88 trillion increase in market capitalization, which exceeds the capitalization of the entire global cryptocurrency market.
Since its inception, the Shiba Inu community has burned more than 410 trillion tokens, leaving 589 trillion SHIB in circulation. If this process continues, the meme coin rate will increase significantly. However, as mentioned above, a large portion of the tokens must be burned to achieve a price of $0,01.
As Crypto News Flash previously reported, the SHIB community has made a big speed jump in Shiba Inu burning. On June 5, the network burned more than 4,8 million tokens in just seven transactions, showing a huge increase in combustion rates of 3,894%. However, the burnt tokens are only a small part of the total supply.
Is 1 cent possible for SHIB? breaking down the "cheap coin" myth
The community is buzzing around the coin, and viral companies are drawing further attention to the meme crypto and calling for the purchase of Shiba Inu until it reaches 1 cent, thereby developing FOMO (fear of missing out) among people. With such pressure, some are concentrated only on a low price and dream of possible profits, without realizing the consequences such a stir can create.
Shiba Inu's current offering is 589 trillion tokens. Due to such a large number, the price per coin is extremely low 1 SHIB costs only $0.00002299 at the time of this writing. At first glance, it seems that SHIB is affordable and cheap, especially for initial entry into the market. Many who invest in crypto for the first time avoid buying such "expensive" coins as Bitcoin, although you can buy any share of Bitcoin and succeed.
In reality, you should review Shiba Inu coin market cap, as this indicator allows you to understand how it compares to other crypto assets in terms of overall market domination.
Does SHIB have more room to grow?
Although SHIB is unlikely to reach the $0.01 price anytime soon, it has a big growth potential in the long run. Investors who diversify their asset portfolio with SHIB right now may follow the “buying the dip” strategy.
The Shiba Inu project has proven itself quite well over time, it has a dedicated community and many holders. The project also demonstrates notable achievements in terms of technological development, which we mentioned earlier. First, it is the Shibarium L2 platform.
According to the platform developers, Shibarium also provides cheap and fast token transactions for the metaverse and game use cases.
The Shiba Inu team has already developed several projects, including a decentralized exchange called ShibaSwap, a collection of NFT named Shiboshis, and the metaverse project known as SHIB: The Metaverse.
The wide distribution of these products can catalyze rising prices for SHIB and make it one of the most attractive coins to invest in. However, many people within the industry still see SHIB as a speculative memecoin. Therefore, to achieve the goal of 1 cent, favorable conditions for the global cryptocurrency market will be required.
Shiba Inu price outlook: why 1 cent is unlikely in 2024 and 2025
According to the ShibBurn platform, the rate of memcoin burning has now dropped significantly by about 90% to 413, 412 SHIB. This shows a dramatic decline after one wallet burned 250 million SHIB in just one transaction on December 6.
The fall in the price of the meme token coincided with a significant reduction in its burn rate. Over the past day, the Shiba Inu (SHIB) rate has decreased by more than 7% to $0.00002968.
If the burn rate does not accelerate, it will take decades for Shiba Inu to reach the 1-cent target. This means token burns can’t be the sole foundation for SHIB’s future growth. General market trends and prospects should work here, which now do not look entirely rosy.
Felix Hartmann, the venture capitalist of Hartmann Capital, claims that today we can observe a correction in the overall crypto market and the altcoin market in particular. Many positions are declining. This can be explained by the fact that institutional investors begin to record profits after the significant growth. In addition, the market volatility may increase by the approaching end of the year.
The expert warns that the alt season has reached its peak. Funding rates currently exceed 100% per annum. This means prices are rising mainly due to positioning in the futures market. Volumes in the spot market are declining.
Hartmann also added that development teams and some funds have already begun to record the profit. This alignment will only increase the pressure on altcoin quotes and pull them down.
However, not all experts share his opinion and remain optimistic, believing that the altcoin season is just beginning, and the meme coins will take off.
According to experts’ forecasts, SHIB could surpass its all-time high and reach $0,000095, due to renewed optimism in the market in 2025. However, the market correction could push the SHIB lower to $0.00004575 over the profit-taking and weakening impact after the bull run.
By 2030 Shiba Inu coin can behave unpredictably. Its price may drop after market saturation or pressure from regulators. Or vice versa, Shiba Inu will be able to reach 1 cent thanks to the large-scale adoption and development of its ecosystem.
ConclusionIt is unlikely that the price of Shiba Inu will reach 1 cent by 2024 or 2025. Recently, the SHIB coin has undergone a correction and is showing a decline against the background of a general falling trend in the market. However, the cryptocurrency market may change greatly within a year, and the bull run will continue. This will serve as an excellent impulse for the growing interest of investors and traders in the Shiba Inu coin.
SHIB is already in good standing and has large listings on crypto exchanges. Therefore, together with the development of key project products and the burning process, as well as under the influence of market trends, the asset may take off. source
*Disclaimer:This content aims to enrich readers’ information. Rare Bitcoin collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader. Thank You - Rare Bitcoin Team -