Can Shiba Inu Reach $0.01 with a Circulating Supply of 589 Trillion SHIB

Shiba Inu faces the daunting task of clinching the highly ambitious target of $0.01, given its hefty circulating supply of 589.25 trillion SHIB tokens.

The $0.01 price mark remains one of the ambitious targets set for Shiba Inu since its inception. Reaching the milestone requires Shiba Inu to eliminate at least two zeros from its price. However, many have wondered whether Shiba Inu can achieve the feat given its enormous supply of over 589 trillion SHIB tokens.

Shiba Inu Road to $0.01

For context, Shiba Inu has a circulating supply of 589.25 trillion SHIB. Assuming Shiba Inu’s circulating supply remains unchanged, SHIB would have a market cap of $5.89 trillion if it rises to $0.01.

Currently, SHIB is trading at $0.00001224 per token, with a market cap of $7.21 billion. This suggests that hitting the $0.01 price target from the current price requires a hefty surge of 81,599%.

The impact of this remarkable surge cannot be overemphasized, as hitting the target would translate to a life-changing profit for early investors. For instance, a portfolio of 50 million SHIB currently worth $612 would be valued at $500,000 if SHIB hits the $0.01 milestone.

SHIB to $0.01 Predictions

Despite the hefty growth rate required for SHIB’s potential spike to $0.01, several experts, including the ecosystem team, still believe Shiba Inu is capable of reaching the target.

Last year, Shiba Inu’s marketing lead, Lucie, asserted that SHIB is capable of reaching the ambitious $0.01 price target. However, she stressed that it would take a long time before the feat became a reality.

In addition, top community expert Luis Delgado (alias Del Crxpto) expressed confidence in Shiba Inu’s potential surge to the $0.01 territory. The expert projected that Shiba Inu could replicate Dogecoin’s performance between 2013 and 2017 to reach the ambitious $0.01 target.

According to Changelly experts, Shiba Inu could trade at $0.01 by July 2040, over 15 years from now. These experts predict SHIB could rise to a maximum price of $0.0104 by then.

Can SHIB Reach $0.01 With 589T Supply?

While several experts believe SHIB can reach $0.01, the major question remains whether Shiba Inu can achieve the feat with its current supply of 589.25 trillion tokens.

Given its current supply, it is highly unlikely that SHIB can reach the ambitious target of $0.01. As mentioned earlier, hitting the $0.01 target would increase SHIB’s market cap to $5.89 trillion from $7.21 billion. This exceeds the current valuation of the global crypto market, which currently stands at $2.65 trillion.

How SHIB Can Reach $0.01 Easily

Therefore, for Shiba Inu to easily reach the $0.01 target, it must eliminate a huge chunk of its supply. The broader Shiba Inu community understands the importance of reducing the supply drastically as it clears the path for SHIB’s potential surge to loftier targets like $0.01.

Shiba Inu, which launched with a supply of 1 quadrillion in August 2020, has seen over 410.74 trillion tokens burned. While the amount destroyed so far has been commendable, there is still a need for more incineration to take SHIB’s price to the highly anticipated $0.01 territory.

Some initiatives are ongoing to reduce SHIB’s supply, including burning the token using a portion of Shibarium gas fees. This effort has contributed to the incineration of over 56 billion SHIB tokens.

Despite this and other burn initiatives, more incineration is still needed, which could only come through dedication from the broader community. This requires people–from community members to the ecosystem team–to voluntarily buy SHIB and send the tokens to the dead wallet to reduce its circulating supply.

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