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Bitcoinist 2025-04-13 05:00:22

Bitcoin Analyst Says Shiba Inu Price Is Not Hitting $1 – Here’s Why

Bitcoin Analyst Says Shiba Inu Price Is Not Hitting $1 – Here’s Why

A recent analysis by a Bitcoin analyst has thrown cold water on the possibility of the Shiba Inu price hitting the $1 mark . The analyst firmly dismissed the idea, suggesting that it is highly unlikely, if not downright impossible. Why Shiba Inu Price Will Never Hit $1 Davinci Jeremie, a prominent Bitcoin analyst with over 825,700 followers on X (formerly Twitter) has declared the Shiba Inu price will never reach $1. To understand why the analyst has made such a grim prediction, he points to Shiba Inu’s market capitalization and supply dynamics. With Shiba Inu’s vast circulating supply , Jeremie argues that reaching $1 would require an astronomical market cap far beyond what the crypto market could sustain. As of April 2025, the total circulating supply of SHIB is around 589.5 trillion. However, this number fluctuates with daily token burns . For Shiba Inu to hit $1, Jeremie has stated that its market capitalization would need to surge to a staggering $600 trillion. To put the sheer scale of this figure into perspective, a comparison between Bitcoin, gold, and the global crypto market cap helps illustrate just how unrealistic this milestone is. Currently, Bitcoin, the world’s largest cryptocurrency by market cap, is worth around $1.66 trillion. For Shiba Inu to achieve a $1 price point, it would need to surpass almost 600 times the total market cap of Bitcoin . Gold , which is widely regarded as a reliable store of value and has a market cap of approximately $21.857 trillion, would still be significantly dwarfed by the required market cap for SHIB at $1. To put it simply, Shiba Inu reaching this figure would need a valuation nearly 300 times greater than the entire global crypto market cap, which currently sits around $2.65 trillion. As mentioned earlier, Shiba Inu’s massive supply also significantly contributes to why a $1 price is unrealistic. While cryptocurrencies like Bitcoin have a capped supply, SHIB’s is exponentially larger, created to appeal to its community. The sheer number of tokens in circulation is part of what keeps SHIB’s current price so low at $0.000012. It also makes it virtually impossible to reach $1 unless drastic changes are made to supply or token burns skyrocket astronomically. Community Acknowledges SHIB’s $1 Pipe Dream Following Jeremie’s declaration that Shiba Inu is unlikely ever to hit $1, many in the crypto community echoed his sentiment, emphasizing just how unrealistic and ambitious this target is. While many concluded that Shiba Inu cannot reach $1, others offered potential solutions they believe could one day turn this far-fetched goal into a reality. One member highlighted the need to reduce Shiba Inu’s supply. Primarily, this would involve token burns, which permanently remove tokens from circulation. Since its inception, over 410.7 trillion SHIB tokens have been burnt . However, despite this progress, the circulating supply remains overwhelmingly large. Featured image from Pixabay, chart from TradingView

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https://www.digistore24.com/redir/325658/ceobig/
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