What Will Be My Portfolio Value If Shiba Inu Reaches $1?
- By Coingape Staff
- Updated on June 27, 2023
Shiba Inu, a meme-inspired cryptocurrency has recently turned out to be the talk of town. This coin has sparked the curiosity of investors looking for potential big profits. As the hype around Shiba Inu is growing and unlocking incredible possibilities, crypto experts are showering positive words on the currency’s future.
With a super-appealing logo and a highly active community, Shiba Inu is slowly climbing the ladder of profitability for investors. Currently, the coin is trading at nearly 0.00000794, but a chunk of experts believe Shiba Inu will reach $1 in the future. So, will Shiba Inu reach $1 anytime soon?
Current Situation Of SHIB
Shiba Inu price has seen big price fluctuations in the past weeks, in accordance with the positive outlook for the cryptocurrency. Shiba Inu (SHIB) is now trading at a price of $0.0000079. This reflects an 11.35% decline in the price over one month. While SHIB is worth around $5.1 billion in terms of market capitalization, the recent downtrend has turned out to be a big concern for investors.
Since reaching an all-time high of $0.00008616 in October 2021, the price of SHIB has been going south. Since the last few years, the crypto market is evolving and a lot of factors have contributed to this fall. They include the broader sell-off in the crypto market, the Shiba Inu team’s lack of fresh progress, and competition from other meme currencies.
Despite its low returns and declining trend, experts are expecting the turn of the coin. Shiba Inu is no doubt a promising project backed by a large and active community. And, the team is working on something out-of-the-box, including a decentralized exchange and a metaverse. These developments will definitely shape the future of Shiba Inu in a better way, driving its price to the sky.
Will Shiba Inu Reach $1?
Based on the performance of SHIB in the last few years, it’s highly unlikely that the coin will touch anything near $1, anytime soon. Given the token’s current pricing and past performance, the humongous return needed for SHIB to reach $1 by the end of 2023 or 2024 is very unreal. As previously said, achieving a market valuation of $549 trillion would be a remarkable feat and far beyond the scope of possibilities.
However, in the long run, Shiba Inu can be a powerful digital asset reshaping the crypto world and skyrocketing the returns for investors. With more and more businesses adopting this coin and its team efficiently working to drop something innovative, the coin definitely has the potential to touch $1. Not anytime soon, but in the future, definitely.
Let’s assume you have $100 in your pocket to invest in Shiba Inu. As the current price of the coin is around $0.0000079 (at the time of writing), this means you will get nearly 12658,228 coins for $100. In case, the price of Shibu Inu skyrockets to $1, your investment value will touch approximately $12,658,228. And, you get approximately 12,658,128.00% return.
|Portfolio Value if SHIBA reaches $0.5
|Portfolio Value if SHIBA reaches $1
Also Read: Shiba Inu Price Prediction:: What’s In It For Traders?
Without a doubt, SHIB’s future is uncertain. There are both positive and adverse aspects that might influence the token’s price. It can be tempting to forecast potential prices based on previous data and patterns. But, the cryptocurrency market is very volatile and vulnerable to a plethora of uncontrollable factors. According to experienced investors and market analysts, it might take at least a decade for Shiba Inu to reach $1.
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