Is Shiba Inu's Burning Surge Already Paying Off? | The Motley Fool (2024)

FAQs

Which coin will reach $1 in 2024? ›

Synopsis. Exploring the potential cryptocurrencies like Pikamoon, Dogecoin, Book of Meme, Rosewifhat, and Zilliqa as contenders to hit the $1 milestone. Key factors like utility, viral potential, and clear roadmaps suggest their potential amidst market sentiment and unique tokenomics.

Even though Shiba Inu isn't likely to soar 34,000-fold over the next six or so years to reach $0.01, it doesn't mean some investors aren't still interested in owning it.

It just can't happen. No matter how explosive the next bull market might be, there is no chance Shiba Inu will hit $1. By just about every measure, this dog may have seen its last day. Should you invest $1,000 in Shiba Inu right now?

The process of “burning” SHIB, or any cryptocurrency, means permanently removing tokens from circulation. This can potentially increase the price if demand remains constant or grows due to a reduced supply leading to scarcity.

Here's our list of cryptos that will explode in 2024: Dogeverse (DOGEVERSE) – A multi-chain Doge token expected to boom in 2024. WienerAI (WAI) – A prime meme coin contender for explosive growth in 2024. Slothana (SLOTH) – A hot Solana meme token raising over $550K in a few hours.

With this in mind, our Shiba Inu price prediction estimates a bull market peak price of around $0.000150, with potential lows of $0.000030 and an average price of $0.000080 by the end of 2025.

Shiba Inu is expected to cost between $0.0045 and $0.0058 in 2040, with an average market price of $0.0049. This range represents market expectations and takes into account several possibilities as crypto is expected to attain widespread usage.

How much Shiba Inu (SHIB) is needed to be a millionaire at $0.05? If SHIB reaches a price of $0.05, you would need about 20,000,000 (20 million) tokens to have $1 million worth. Twenty million SHIB tokens at current rates is about $166.

Will Shiba Inu hit 50 cents? ›

So the short answer to whether the Shiba Inu coin can reach 50 cents is a "🔥NO🔥" The main restrictive factor is SHIB's circulating supply, which would, at current amounts, produce a market cap of nearly $294.5 trillion if the meme coin were to reach the $0.50 mark.

While it's theoretically possible for Bonk to reach 1 cent, achieving this milestone would require huge growth and widespread adoption. As of now, Bonk's price is significantly lower than 1 cent, but with continued momentum and market support, it's not impossible.

In 2022, a Shiba Inu community member, who goes by the pseudonym 'Queenie,' projected that the Shibarium burn portal could incinerate a whopping 111 trillion SHIB tokens annually.

So, can Shiba Inu reach 1 cent? If you're making a Shiba Inu price prediction, the 1-cent price level is more or less out of the question. As we've shown, such a price level would imply a completely unrealistic market capitalization of $5.89 trillion for Shiba Inu.

SHIB burns on fire

While the amount of meme tokens burned is not mind-blowing, the rise in the burn rate was significant – a whopping 2,076%. The largest meme cryptocurrency burn took place 14 hours ago, destroying 20,000,000 SHIB.