No one can doubt the huge growth that the Shiba Inu cryptocurrency experienced in 2021, an increase of 26,000,000% after SHIB was allowed to be traded by major cryptocurrency exchanges and the popularity of the meme coin skyrocketed, plus many are wondering if it will be able to reach the value of $1.
What makes us think Shiba Inu will reach the $1 cap?
The current value of Shiba Inu is $0.000021, so increasing to a dollar would represent an increase of 4,700,000%, although some specialists believe that the growth that the currency has had in the last year makes a new giant leap viable.
This cryptocurrency is traded at such a small price because its supply is too high, 549 billion SHIB tokens in circulation, with a market capitalization of around $11 billion.
To think of Shiba Inu reaching a value of one dollar would mean its market capitalization would be $549 billion, 203 times the value of companies like Apple ($2.7 trillion) and 366 times that of Amazon ($1.5 trillion), plus more than six times the world’s annual GDP.
What must happen for Shiba Inu to approach the $1 cap?
Faced with a glut of Shiba Inu tokens, it has been proposed that a major coin burn, or several, be done so that as supply drops it will be accompanied by an increase in price.
Companies such as Bigger Entertainment, focused on crypto entertainment, have already organized burns such as the one last Valentine’s Day, which was 370 million Shiba Inu tokens, although it is not enough.
Another necessary measure for the increase in the value of this cryptocurrency is that the supply of these tokens be considerably decreased and thus prevent the market value from skyrocketing.