Shiba Inu

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 <p>Shiba Inu created its all time high on October 28, 2021. At that time, it successfully attained&nbsp;$0.00008845. At press time on Tuesday, September 5, 2023, SHIB was trading with an extra zero, at&nbsp;$0.000007577. This marks a 91% decline from its peak. Even so, members from the Shiba Inu Army have not lost hope and expect the asset to attain $1 some day. In this article, we will analyze if such a target is realistic or not for SHIB. </p> 
 <p><strong>Also Read: Shiba Inu: 17% Americans Have Invested in SHIB</strong></p> 
 <h3 class="wp-block-heading" id="h-shiba-inu-and-the-1-milestone">Shiba Inu and the $1 Milestone</h3> 
 <p>For SHIB to reach the $1 benchmark, it will have to initiate a whopping 13,197,736% rise. The crypto market has been yielding-in to bears lately. The price of most assets, including SHIB, has been bearish. Over the past day, SHIB has dropped by 1.2%, while on the weekly, it is down by around 6%. In fact, at press time, the asset was hovering below all its EMAs on the daily timeframe chart.</p> 
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  <img decoding="async" width="1024" height="517" src="https://cdn.thebittimes.com/images/2023/09/06/be9accdc7e56368e225b309e8e7dc1ea.webp" alt="For Shiba Inu to reach the $1 benchmark, it will have to initiate a whopping 13,197,736% rise." class="wp-image-110499" srcset="https://cdn.thebittimes.com/images/2023/09/06/be9accdc7e56368e225b309e8e7dc1ea.webp 1024w, https://cdn.thebittimes.com/images/2023/09/06/be9accdc7e56368e225b309e8e7dc1ea.webp 300w, https://cdn.thebittimes.com/images/2023/09/06/be9accdc7e56368e225b309e8e7dc1ea.webp 768w, https://cdn.thebittimes.com/images/2023/09/06/be9accdc7e56368e225b309e8e7dc1ea.webp 1536w, https://cdn.thebittimes.com/images/2023/09/06/be9accdc7e56368e225b309e8e7dc1ea.webp 380w, https://cdn.thebittimes.com/images/2023/09/06/be9accdc7e56368e225b309e8e7dc1ea.webp 550w, https://cdn.thebittimes.com/images/2023/09/06/be9accdc7e56368e225b309e8e7dc1ea.webp 800w, https://cdn.thebittimes.com/images/2023/09/06/be9accdc7e56368e225b309e8e7dc1ea.webp 1160w, https://cdn.thebittimes.com/images/2023/09/06/be9accdc7e56368e225b309e8e7dc1ea.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    SHIB/USDT by TradingView 
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 <p><strong>Also Read:&nbsp;Shiba Inu Investor Misses 200,000x Returns on SHIB, Here’s Why</strong></p> 
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 <p>Reaching $1 at this stage seems to be quite unrealistic. In fact, attaining $0.01 also seems to be quite far-fetched at the moment, because SHIB will have to rise by around 131,878%. Shiba Inu’s aggregate valuation, or market cap, is currently around $4.485 billion. Now, for SHIB to attain a price of $1, its market cap will have to cross $550 trillion. Chalking out the odds of such a scenario, a recent CoinCodex <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> pointed out,</p> 
 <p>“<strong>The possibility of such price action taking place is theoretically impossible, given that the global GDP for all countries is just around $100 trillion. The likelihood of the Shiba Inu price coming anywhere close to $1 at current levels of circulating supply is simply not feasible.</strong>“</p> 
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  <img decoding="async" width="900" height="500" src="https://cdn.thebittimes.com/images/2023/09/06/d1245e9f98a9475b5cf0df6ff68f498e.webp" alt class="wp-image-110481" srcset="https://cdn.thebittimes.com/images/2023/09/06/d1245e9f98a9475b5cf0df6ff68f498e.webp 900w, https://cdn.thebittimes.com/images/2023/09/06/d1245e9f98a9475b5cf0df6ff68f498e.webp 300w, https://cdn.thebittimes.com/images/2023/09/06/d1245e9f98a9475b5cf0df6ff68f498e.webp 768w, https://cdn.thebittimes.com/images/2023/09/06/d1245e9f98a9475b5cf0df6ff68f498e.webp 380w, https://cdn.thebittimes.com/images/2023/09/06/d1245e9f98a9475b5cf0df6ff68f498e.webp 550w, https://cdn.thebittimes.com/images/2023/09/06/d1245e9f98a9475b5cf0df6ff68f498e.webp 800w" sizes="(max-width: 900px) 100vw, 900px"> 
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    Source: Analytics Insight 
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 <p><strong>Also Read:&nbsp;Shiba Inu: SHIB to Hit $0.001 If Its Market Cap Touches $550 Billion?</strong></p> 
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<div class="cs-entry__tags"> 
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  <li>shib</li> 
  <li>shiba inu</li> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/shiba-inu-when-will-shib-reach-1-tbt61659.html">https://thebittimes.com/shiba-inu-when-will-shib-reach-1-tbt61659.html</a></p>

Shiba Inu: When Will SHIB Reach $1?

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