Is it Possible for Shiba Inu to Reach $0.01 by 2030?

Is it Possible for Shiba Inu to Reach alt=

At the time of writing, the overall cryptocurrency market had a market capitalization of just under $2.7 trillion. That’s up from $800 billion at the start of 2023. And it’s close to the all-time high of just under $3 trillion.

There is no doubt that bullish fever has gripped the cryptocurrency sector. Whether it’s the positive sentiment in the stock markets or the recent approval of place Bitcoin AND Fthese tailwinds are propelling some of the most speculative tokens to new heights.

Just last month, Shiba Inu (CRYPTO: SHIB) soared more than 200% (as of March 25). Investors benefited from a monstrous increase in the price of this token.

But can it reach $0.01 by the end of the decade? Let’s see if this prediction of a 34,000x increase, from the current price of $0.000029, is a possibility.

Questioning the Usefulness of the Shiba Inu

See how strong the dog-themed predecessor is Dogecoin As cryptocurrency was catching on with the crypto community, the founders of Shiba Inu wanted to create a more functional blockchain. Operating above the Ethereum network, Shiba Inu tokens can be used within its ecosystem of decentralized applications.

This sounds good in theory, but I suspect few people use these tokens for anything useful. Instead, Shiba Inu price movements are driven solely by speculative behavior. We have literally witnessed this phenomenon over the last month as no fundamental changes have been made to the network.

Those skeptical of the industry will raise questions about the viability of probably all cryptocurrencies. This technology is believed to be a solution that attempts to find a problem to justify its existence. While I don’t think this is the case for a tiny minority of digital assets, I think it’s certainly the case for the vast majority of them. Shiba Inu belongs to the latter category.

Some innovations are being made to enhance the utility of the Shiba Inu. Shibarium, a layer 2 scaling solution, hopes to speed up transaction processing and reduce fees for users. Supporters want this upgrade to allow crypto to gain more traction in applications like the metaverse and non-fungible tokens.

But it doesn’t have a significant developer community working to advance its progress toward greater utility. This limits its chances of long-term success.

The numbers don’t add up

There are currently 589 trillion Shiba Inu tokens in circulation. That’s a gargantuan number that’s hard to comprehend. If we assume that Shiba Inu hits the coveted $0.01 mark, this implies that its market capitalization would be equal to $5.89 trillion. It seems practically impossible.

Bitcoin, the world’s oldest and most valuable cryptocurrency, currently has a market capitalization of $1.4 trillion and astronomically higher long-term price appreciation potential than Shiba Inu.

With a market capitalization of nearly $6 trillion, Shiba Inu is said to be worth more than Microsoft And Apple combined. This seems completely unreasonable.

Even though the Shiba Inu is unlikely to increase 34,000 times over the next six years to $0.01, that doesn’t mean some investors still aren’t interested in owning it. Last month’s price rise shows the positive feedback loop at play, where the fear of missing out (FOMO) grips speculators before everything falls apart. Betting on short-term price movements like this is a losing game.

Investors looking for growth potential in their portfolios should consider Bitcoin as the best crypto to buy. In addition, there are others growth tech stocks to watch too.

Should you invest $1,000 in Shiba Inu right now?

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Neil Patel and its clients have no position in any of the stocks mentioned. The Motley Fool holds positions and recommends Apple, Bitcoin, Ethereum and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

Can Shiba Inu Skyrocket to $0.01 by 2030? was originally published by The Motley Fool

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