Shiba Inu (SHIB) continues to be a widely followed cryptocurrency, with its community and analysts frequently speculating on its long-term price potential. One of the most ambitious targets floated by enthusiasts is the possibility of SHIB reaching $1. However, achieving this milestone would require significant changes, particularly to its massive circulating supply.
The Feasibility of SHIB Reaching $1
Despite fluctuations in the crypto market, Shiba Inu remains a top choice for investors looking for potential breakout opportunities. Crypto analyst Javon Marks has predicted SHIB could reach $0.0001553 in the mid-term, while other long-term projections set price targets at $0.001 and even $0.01. Some members of the SHIB community have also speculated about a $1 valuation, but this price level presents serious mathematical challenges.
Near 10X to $0.0001553 for $SHIB đł:
— JAVONâĄď¸MARKS (@JavonTM1) February 4, 2025
SHIB (Shiba Inu) has already confirmed Bull Signals that suggest a continuation while also being broken out of a much larger resisting trend that implies $0.000081 to be in play as the target
On top of that, buyers in the recent dip showed⌠https://t.co/DVZmRNVaQZ pic.twitter.com/CwGHrUdLwr
Currently, SHIBâs circulating supply stands at approximately 589 trillion tokens. If SHIB were to reach $1 without any reduction in supply, its total market capitalization would skyrocket to an astronomical $589 trillionâfar exceeding the entire global economy. Given these figures, a drastic reduction in circulating supply would be necessary for SHIB to reach this milestone.
Last year, crypto exchange CoinW fueled speculation by asking whether Dogecoin (DOGE) or Shiba Inu would reach $1 first. However, with DOGE currently priced at $0.2455, it remains significantly closer to this target than SHIB.
They'll be surprised. But those paying attention to the progress won't be at all. I'm kidding…even THEY will be surprised. Even you. đ
— Shytoshi Kusama⢠(@ShytoshiKusama) January 11, 2025
How Much Supply Needs to Be Burned?
Token burning is one of the most viable methods for reducing supply and increasing value. SHIBâs developers and community regularly conduct token burns, but the scale required to reach $1 is staggering. For SHIB to achieve a $1 price with a $500 billion market cap, its circulating supply would need to shrink to 500 billion tokens. This means that 99.91%âor approximately 588.5 trillion tokensâmust be burned.
Is a Large-Scale Burn Realistic?
Although Shiba Inu has an active burn initiative, the current burn rate is nowhere near sufficient to achieve such a drastic reduction. Even with aggressive burns, eliminating nearly the entire supply would be a daunting challenge.
Also Read: Dogecoin Price Set to Surge as Community Awaits CZâs Official Dog Reveal: Can DOGE Rally 165%?
While SHIB remains a popular asset with a dedicated community, reaching $1 is highly improbable under current tokenomics. Without a massive increase in burn rates and market demand, such a price remains out of reach for the foreseeable future.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The authorâs views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
