Bitcoin Analyst Dismisses Shiba Inu’s Potential to Reach $1 Price Point
Bitcoin analyst Davinci Jeremie asserts that Shiba Inu will likely never reach $1. The necessary market capitalization would be around $600 trillion, far surpassing the combined market value of Bitcoin and gold, making it highly improbable given the existing crypto landscape and Shiba Inu’s enormous supply.
A recent assessment by a prominent Bitcoin analyst has debunked the notion of Shiba Inu reaching the $1 price point, labeling it as highly improbable. The analyst, Davinci Jeremie, points to the cryptocurrency’s immense market capitalization and circulating supply as primary factors behind this prediction.
With Shiba Inu’s circulating supply approximately at 589.5 trillion tokens as of April 2025, Jeremie emphasizes that achieving a $1 valuation would necessitate an extraordinary market capitalization of about $600 trillion. This figure starkly exceeds the current valuation of Bitcoin, which is around $1.66 trillion, highlighting the unattainability of such a milestone.
Moreover, the required market cap for Shiba Inu to reach $1 would surpass not only Bitcoin but also gold’s approximated market cap of $21.857 trillion, positioning it at nearly 300 times greater than the total value of the current global crypto market cap, estimated at $2.65 trillion.
In addition to the market cap argument, Jeremie notes that Shiba Inu’s extensive supply structure is a central issue. Unlike finite cryptocurrencies such as Bitcoin, Shiba Inu has been designed with a vast supply to foster community engagement. This surplus of tokens contributes to its current low price of $0.000012 and diminishes the probability of reaching $1 without significant alterations in supply dynamics or aggressive token burns.
Members of the cryptocurrency community have mostly resonated with Jeremie’s perspective, highlighting the unrealistic nature of attaining the $1 target. While many concur that Shiba Inu’s ascent to $1 remains a fantasy, some propose that systematic supply reductions, primarily through token burns, could pave the way for a gradual increase in value. Though over 410.7 trillion SHIB tokens have been removed from circulation since inception, the remaining supply continues to hinder the achievement of a $1 price point.
In conclusion, the likelihood of Shiba Inu attaining a price of $1 is exceedingly low, primarily due to its astronomical market capitalization requirements and vast circulating supply. The consensus within the crypto community aligns with this assessment, suggesting that substantial alterations in supply through token burns may be necessary to approach such a lofty target. Ultimately, Shiba Inu’s current framework illustrates the challenges it faces in realizing such ambitious goals.
Original Source: bitcoinist.com
Post Comment