Since its inception, Shiba Inu (SHIB), a popular dog-themed crypto asset, has been gaining attention within the crypto community and among meme token lovers.
While it started as a meme-inspired token, its growing ecosystem, including the Shibaswap decentralized exchange and Shibarium layer-2 solution, is adding utility and potential longevity to the project.
As the crypto asset also gains traction due to several factors, which include price, we calculated its potential price when it attains the coveted $50 billion market capitalization.
Before we dive into the numbers, let’s clarify what market capitalization means. In simple terms, the market cap is calculated by multiplying a cryptocurrency’s current price by its circulating supply (the number of coins currently in existence).
To determine SHIB’s potential price at a $50 billion market cap, we need to consider its current circulating supply. As of writing this article, data from SHIB Burn reveals approximately 589 trillion SHIB in circulation.
To know the price of SHIb at a $50 billion market cap, the mathematical calculation would be:
Market Cap / Circulating Supply = $50,000,000,000 / 589,273,888,638,114 = $0.000085
This means that if Shiba Inu achieves a market cap of $50 billion, each SHIB token would potentially be worth around $0.000085. This represents a substantial increase from SHIB’s current price.
Whether or not SHIB reaches this valuation depends on several crucial factors:
Ecosystem Development: The development of various projects in the Shiba Inu ecosystem such as the SHIB metaverse, and the continued expansion of Shibaswap are essential to driving real-world utility.
The Shiba Inu development team recently announced an upgrade of the Shibarium network. This development will have a positive effect on Shiba Inu’s growth.
Token Burns: The SHIB community’s ongoing burn initiatives are designed to reduce supply, which could potentially increase scarcity and drive up the price.
Overall Market Conditions: The broader cryptocurrency market sentiment ultimately plays a significant role in the performance of individual coins and tokens.
Reaching a $50 billion market cap is an ambitious goal for Shiba Inu. However, the cryptocurrency world has witnessed a lot of astounding token performances in the past. As Shiba Inu continues to develop its ecosystem, attract wider adoption, and benefit from positive market conditions, ambitious height is becoming a reality.
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