Shiba Inu [SHIB] has been a subject of intense discussion and speculation within the community. At the time of writing, the asset was priced at $0.00002545, reflecting a 2.49% increase over the past hour and a 5.44% increase over the past 24 hours. Amid these gains, the asset's market capitalization rose 4% to $15.6 billion. SHIB's performance last month was quite volatile, with a notable decline of 27.16%. However, the price has clearly recovered, with a gain of 11% this month.
The hypothetical scenario: SHIB for $1
The idea of Shiba Inu reaching a price of $1 was a tempting but highly speculative thought among investors. To understand the potential impact, let's consider a hypothetical scenario in which SHIB hits this ambitious price target. At the current price of $0.00002545, a $1,000 investment in SHIB would acquire approximately 39,184,952 or 39.18 million tokens. If SHIB were to reach the $1 mark, the value of this investment would increase to a whopping $39.18 million. For context, even a modest $1 investment at today's price would yield $39,184, and a $10 investment would result in $391,849 if SHIB reached $1.
Also read: Shiba Inu expected to reach 1.5 cents, but when?
Is $1 a Realistic Milestone for Shiba Inu?
While the potential returns from such a rally are incredibly enticing, the feasibility of Shiba Inu reaching $1 is highly questionable. To provide some perspective, a price of $1 for one SHIB token would imply a market cap of $589 trillion. This figure is unrealistic and also exceeds the combined wealth of the entire global economy. It should also be noted that the total market capitalization of cryptocurrencies is just over $1 trillion.
Despite this improbability, Telegaon has estimated that the meme coin could reach an average price of $0.89 and a maximum price of $1.06 by 2050. However, the duration and speculative nature of the forecast are something investors should be wary of.
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