Bitcoin

Shiba Inu

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 <p>The Shiba Inu [SHIB] ecosystem has been navigating through the contentious release of its layer-2 protocol, Shibarium. In the midst of this situation, SHIB faced a significant decline and was unable to rally. Nevertheless, there are those who maintain optimism about the meme coin’s potential for an upward movement. While the possibility of SHIB reaching $0.01 might seem ambitious, it is certainly not beyond the realm of possibility.</p> 
 <p>The topic of whether Shiba Inu can achieve a value of $0.01 is a prevalent conversation among novice investors. Judging from the market cap alone, Shiba Inu would need a considerable expansion from its present value of $4.76 billion. To reach a token price of $0.01, SHIB would require a market capitalization of $5.9 trillion. </p> 
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 <p>It’s important to emphasize that achieving a market capitalization of $5.9 trillion would position Shiba Inu as a larger entity than Apple. This aspiration is highly speculative and falls beyond the conceivable realm, at least for the next two decades. The <a rel="noopener noreferrer nofollow" title="cryptocurrency" href="https://thebittimes.com/tag/cryptocurrency.html">cryptocurrency</a> industry has yet to maintain a market cap exceeding $3 trillion. The world’s largest <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>, Bitcoin hasn’t been able to retain a market cap of $1 trillion for too long.</p> 
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 <p><strong>Also Read: Shiba Inu: Shibarium Attracting New Users to the SHIB Ecosystem </strong></p> 
 <h4 class="wp-block-heading" id="h-so-how-and-when-can-shiba-inu-achieve-this-feat">So how and when can Shiba Inu achieve this feat?</h4> 
 <p>Burning or removing tokens from circulation is widely recognized as a significant method to enhance the asset’s value. At present, the total tokens in circulation amount to 579 trillion. Additionally, a total of 410 trillion tokens have already been subjected to burning. Recently, the burn rate has been experiencing significant fluctuations. Currently, the 24-hour burn rate stands at 140%. </p> 
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 <p>Also Read: Whale Accumulates Bitcoin Worth $3 Billion: Becomes 3rd Largest Holder</p> 
 <p>Suppose Shiba Inu managed to reach a market capitalization of $1 trillion. In such a scenario, a total of 100 trillion Shiba Inu tokens would be required for each individual SHIB token to attain a value of $0.01. Given the ongoing burn rate, it would take about 46,296 years to eliminate around 490 trillion SHIB tokens.</p> 
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  <img decoding="async" src="https://cdn.thebittimes.com/images/2023/08/26/39e14cea55e90e96df69f4e82999b3e6.webp" alt="" class="wp-image-108811" style="width: 100%;height:335px" width="555" height="335" srcset="https://cdn.thebittimes.com/images/2023/08/26/39e14cea55e90e96df69f4e82999b3e6.webp 960w, https://cdn.thebittimes.com/images/2023/08/26/39e14cea55e90e96df69f4e82999b3e6.webp 300w, https://cdn.thebittimes.com/images/2023/08/26/39e14cea55e90e96df69f4e82999b3e6.webp 768w, https://cdn.thebittimes.com/images/2023/08/26/39e14cea55e90e96df69f4e82999b3e6.webp 380w, https://cdn.thebittimes.com/images/2023/08/26/39e14cea55e90e96df69f4e82999b3e6.webp 550w, https://cdn.thebittimes.com/images/2023/08/26/39e14cea55e90e96df69f4e82999b3e6.webp 800w" sizes="(max-width: 555px) 100vw, 555px"> 
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 <p><strong>Also Read: Shiba Inu Investors Struggle as Just 16% Remain Profitable</strong></p> 
 <p>At press time, SHIB was trading for $0.00000809 with a 2.23% daily drop. Shiba Inu would need to increase by approximately 123,477,548% to reach a price of $0.01 from its current price of $0.00000809. Reaching a price of $0.01 is improbable, whether considering market capitalization or token burning, even within the upcoming bullish market cycles.</p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>crypto</li> 
  <li>cryptocurrency</li> 
  <li>shib</li> 
  <li>shiba inu</li> 
 </ul> 
</div>

Shiba Inu Might Hit $0.01 In These Many Years: Here's The Math

TheBitTimes

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