Is crypto really making millionaires? Well Yes! We all have seen people around us making millions from small investments in crypto. With the market re-aligning its forces, a higher chance points towards Shiba Inu Coin and its holders towards getting significant returns.
But, Is this a good time to invest in Shiba Inu? Can shib hit the 1 cent mark? These questions will be answered today. We will also discuss the factors that can help shib to hit 1 cent mark. So, stick around for that because today’s article is full of major updates.
So without further ado, let’s dive into the topic…
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Shiba Inu Coin Major Updates
Quickly discussing today’s price, Memcoin Shiba inu is currently rolling at price of 74 satoshi units with a 24-hour trading volume of 414,000,000 dollars. shiba inu is up 4.34% in the last 24 hours.
The current CoinMarketCap ranking is #52, with a live market cap of almost $3,000,000,000. It has a circulating supply of almost 400,000,000,000,000 shib coins and the maximum supply is not available.
In the light of the significant growth predicted in cryptocurrency over the next few years, Shiba has the potential to make millionaires. Shiba Inu, the DOGE Killer, is now the market’s new trend of cryptocurrency.
This meme cryptocurrency, with a Shiba Inu dog as its logo, follows Dogecoin’s path to be the best alternative to the latter.
As the latest on the market, SHIB receives enormous attention and emerges as an investor’s favorite choice, particularly because of the recent drop in crypto markets like Bitcoin and Ethereum.
Investors’ interest in knowing whether Shiba Inu could be a millionaire coin, with its growing popularity. The highly volatile market for the Shiba Inu token is now showcasing way too much momentum.
Leaving the investor to strategize their investment portfolio, which is a good sign for those who are already ready to take risks, because the advancement of the token is deemed to be higher; however, as a matter of fact, the coin is bound to come down after an exponential rise. On the bright side, we expect the coin to continue its steady growth rate for now.
According to its technical analysis, certain prominent experts predict that the Shiba Inu token would give a very high return value, and a minimum of 60% return rate is expected from the coin’s recent uptrend.
Now, it’s time to answer the most awaited question. Does Shiba inu have the potential to hit 1 cent or even 1 Dollar? In short,Not for now. To understand this considers this scenario. 37 trillion dollars is circulating money in the world. Out of which around 1 trillion dollars is invested in all combined cryptocurrencies.
If we consider Total supply of Shiba Inu which is 1 Quadrillion. Also, let’s reduce the 50% locked coins by Uniswap, we are now left with 500 trillion coins.
And if the Shiba market itself goes to 10 trillion dollars in the near future which is quite unlikely but let’s assume. Then these 500 trillion coins are worth 10 trillion dollars which still makes it price 0.02 dollars per token.
So, it can be easily observed that even with very rough and huge figures of money, SHIB still did not go even above 0.02 dollars. So, the possibility of hitting 1 cent in near future is quite difficult but, to hit 1 dollar is quite impossible for now.
The only method shib can go and hit 1 cent is, by burning a few trillions of tokens. What are your views about this? Let us know in the comment section below.
But what are the plans of shib developers to make this happen? Well, developers of Shiba inu already came up with the plan for an automatic burn of Shiba inu.
They are developing a token-burning system. They will also decrease the circulation of the issued tokens.
A great moment for its ecosystem is the emergence of the NFT platform for sales. NTF is becoming more and more popular now, which means that there will be more and more incinerations, which is exactly what everyone is waiting for.
The developers also announced that they will have their own blockchain in December. This is a very big step; it would seem, for such a meme coin as everyone thinks.
It can be understood that it is necessary that most of the coins be burned, and then this will give an impetus to the rise in the price of the moon. Restricting the circulation of coins will also contribute to an excellent appreciation.
This active developer community looks very promising to boost Shiba inu coin’s price. From day one, they never failed to surprise us. First with their own decentralized exchange, ShibaSwap, and then new tokens with stake and bury with new bonus tokens like bone, leash, and even ryoshi token.
Now developing its own blockchain and automated burning system sounds really promising for Shiba Holders.
Another growth factor driving the token that is an ERC-20 token powered by the Ethereum network. This makes the currency on the market secure and established. Everything is completely decentralized since decentralization is the highest priority for the token.
Shiba has one of the most important volumes of daily trading and grows exponentially its market capitalization. The cryptocurrency of Meme is extremely popular with enthusiasts for the cryptocurrency as well as with investors who think Shiba will become the next millionaire investment.
Experts and crypto enthusiasts suggest it should never be ignored for its popularity, as it reflects the actions of a new and growing class of cryptocurrency traders. Recently, the Shib retweeted a post by CoinGecko, which announced that the Shiba Inu token is ranked first among all altcoin as the most trending coins in the United States.
The significant speculation behind its rank might be because the platform recently shifted to a brand-new website that calls for the tag as “a decentralized meme token that evolved into a vibrant ecosystem.”
Well, considering the Shib community growing more vital day by day, its price action and demand forces would eventually open up the token to a higher number of customers worldwide.
Therefore, while the token is trading steadily, the most strategic action is to enter the mark with a calculated amount and invest further once the token starts to get on with its bull’s run exponentially. So, in short, Shiba Inu is still a Millionaire maker coin.
So in conclusion, we can say that the shiba inu coin will not hit $1 in near future but it is possible for shib to hit 1 cent if the active developer community comes with an automatic burn of Shiba inu.
So, How many shiba inu are you holding in your portfolio? Do let us know in the comment section below.
Conclusion – Shiba Inu Coin
It is very important to keep in mind and remember the volatility that you may experience while you invest in this market; therefore, a cautious approach will certainly be beneficial for you in the long and the short run.
The influence that he has in the market is comparable to the billionaires in the world. With this, we have come to the end. Thank you for reading the article.
We hope this session was informative. Do let us know in the comments section below of your opinion regarding Shiba Inu Coin.