Cryptocurrency News

Will Shiba Inu Coin Reach $1? Shiba Inu Price Prediction

By March 28, 2024 No Comments

It’s impossible for the Shiba Inu coin to reach $1 at its current circulating supply. Given that there are 589 trillion SHIB in circulation, Shiba Inu would have a market cap of $589 trillion at $1 per coin, which is more than the value of all equities, fiat currencies, and other assets in the world combined many times over.

However, that doesn’t mean that Shiba Inu cannot or never will reach $1. In fact, the recent developments in the Shiba Inu ecosystem, namely the launch of the Shibarium layer 2 solution, are related to burning SHIB tokens and bringing the supply down, which could make each token that much more valuable down the line.

In this article, we will explore the factors that could influence the price of SHIB and discuss the possibility of it reaching the $1 milestone.

shiba inu coin price chart

Will Shiba Inu coin reach $1? 

Shiba Inu reaching 1 dollar at current token supply levels seems impossible. However, that doesn’t mean that SHIB might not reach $1 in the future, especially if the recent blockchain changes become more far-reaching.

In the following sections, we are going to present the arguments in support and in opposition to SHIB reaching $1.

What could help Shiba Inu reach $1 

The main reason why many SHIB investors and quite a few analysts believe that Shiba Inu could reach $1 in the future is Shibarium, a layer 2 solution that makes transactions in the Shiba Inu ecosystem both faster and cheaper. Not only that, each Shibarium transaction burns SHIB tokens, effectively reducing the supply of the token.

According to the Shibarium documentation, each transaction on the layer 2 platform incurs a basic fee, out of which 30% is set aside for network maintenance, and 70% for the token burn. Initially, the transaction fee is paid in Bone ShibaSwap (BONE), which accumulates in the smart contract designated for token burns. BONE is then transferred to Ethereum (the native blockchain of SHIB), where it is exchanged for SHIB and burned using the relevant smart contract operation. The swap between BONE and SHIB is included in the burn mechanism directly, and no manual interaction from users is required.

In May 2023, a prominent Shiba Inu community member who goes by the name “ShibInformer” on Twitter posted a “preview of the user interface of the SBHI burn mechanism in Shibarium.” It shows the amount of BONE ready to be burned and the option to “Initiate burn.”

The obstacles that could prevent Shiba Inu from reaching $1

While it is impossible to predict the future price of any cryptocurrency with certainty, reaching $1 represents an impossible milestone for SHIB. It is crucial to consider the circulating supply of SHIB tokens, which is in the trillions. The table below demonstrates Shiba Inu’s implied market cap at different hypothetical price levels.

SHIB priceShiba Inu Market Cap
0.0000312 (current price)$18.85 billion
$0.0001$58.9 billion
$0.001$589 billion
$0.01$5.89 trillion
$0.10$58.9 trillion
$0.50$294.5 trillion
$1$589 trillion
*Based on the 589 trillion SHIB circulating supply

Meanwhile, here are the market capitalizations of prominent assets and companies:

Market Cap
Microsoft (the world’s most valuable company)$3.13 trillion
Gold$12.28 trillion
US Dollar (M2 money supply)$23.37 trillion
US Stocks$40.51 trillion
*Source: CoinCodex

As we can see from the table above, Shiba Inu reaching $1 at the current circulating supply is completely out of the question.

Furthermore, the price of SHIB would need to overcome numerous resistance levels as it progresses toward $1, facing potential sell-off pressures and profit-taking along the way. Such milestones are influenced by various factors, including those mentioned earlier, and sentiment can change rapidly within the cryptocurrency market.

Shiba Inu price prediction 2024-2025: $1 is out of the question, as is 1 cent

shiba inu price prediction chart 2025
Shiba Inu is predicted to gain +166% in the next year, but would need to gain an additional +23,693% to reach 1 cent.

According to our Shiba Inu price prediction algorithm, the price of SHIB is expected to increase by double digits by May and hit a multi-year high of $0.0002. After that, SHIB could proceed to retrace toward the end of the year and reach $0.00005863.

In the first part of 2025, our algorithm predicts a small uptrend in the value of Shiba Inu, with the price of SHIB increasing to $0.00008552, showing a +166% increase compared to current market rates. Keep in mind that predicting the future price trajectory of cryptocurrencies is especially difficult due to their inherent price volatility.

In any case, Shiba Inu isn’t predicted to reach $1 or even “just” 1 cent, for that matter. In fact, Shiba Inu would have to increase from its forecasted price point of $0.00008552 in March 2024 by a whopping +23,693% in order to claim the 1 cent milestone.

So, can Shiba Inu reach $1?

If nothing dramatically changes with the Shiba Inu tokenomics, there is no chance that SHIB will ever reach $1 or even lower price milestones like 1 cent. However, if the proposed Shibarium changes come into effect soon and burn a substantial amount of SHIB, we could see the Shiba Inu coin massively increase in value. This potential for price growth is one of the reasons why Shiba Inu is featured on our list of the best cryptos to buy right now.

With its impressive bull run in 2021, Shiba Inu has demonstrated that there is a considerable market for meme coins, spurring other cryptocurrency projects to follow in its footsteps and leading many investors to wonder which meme coin might be the next Shiba Inu.

If you prefer to do your own research and identify which cryptocurrency projects have a lot of potential before they are picked up by the broader crypto community, check the video below, which discusses what techniques to use to find potentially lucrative meme coin investment opportunities.