Shiba Inu [SHIB] has been a topic of intense discussion and speculation within the community. At press time, the asset was priced at $0.00002545, reflecting a 2.49% increase over the past hour and a 5.44% rise in the last 24 hours. Amidst these gains, the asset’s market cap surged by 4% to $15.6 billion. SHIB’s performance last month was quite volatile, with a notable 27.16% decline. However, it has clearly rebounded with an 11% gain this month.
The Hypothetical Scenario: SHIB at $1
The idea of Shiba Inu reaching a price of $1 has been a tantalising albeit highly speculative, thought among investors. To understand the potential impact, let’s consider a hypothetical scenario where SHIB hits this ambitious price target. At its current price of $0.00002545, a $1,000 investment in SHIB would acquire around 39,184,952 or 39.18 million tokens. If SHIB were to achieve the $1 mark, the value of this investment would soar to a whopping $39.18 million. For context, even a modest $1 investment at the current price would yield $39,184 and a $10 investment would result in $391,849 if SHIB reached $1.
Also Read: Shiba Inu Forecasted to Hit 1.5 Cents, But When?
Is $1 a Realistic Milestone for Shiba Inu?
While the potential returns from such a rally are incredibly enticing, the feasibility of Shiba Inu reaching $1 is highly questionable. To provide some perspective, a $1 price of one SHIB token would imply a market capitalization of $589 trillion. This figure is unrealistic and also surpasses the combined wealth of the entire global economy. It should also be noted that the entire market capitalisation of cryptocurrencies is just over $1 trillion.
Despite this improbability, Telegaon has estimated that the meme coin could reach an average price of $0.89 and a maximum price of $1.06 by the year 2050. However, the duration and speculative nature of the prediction is something that investors need to be wary of.
Also Read: Shiba Inu ETF Approval: A New Era for Cryptocurrency Investors?
