How long does it take for SHIB to reach the “dream” milestone of 1 USD?

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2022-07-31 07:53:42

A little math shows that the digital currency “Japanese dog” can take up to 128,000 years to reach the number 1 USD.

Until now, 2021 is considered to be the year witnessing the strongest explosion of the cryptocurrency market. Typically, the “bounce” of Shiba Inu – a Japanese dog cryptocurrency that has turned some investors into billionaires. Shiba Inu (SHIB) is also known as the “Dogecoin Destroyer”, another memecoin that is very “lifted” by Elon Musk.

However, the possibility that SHIB can reach 1 USD is still an unanswered question?

Shiba Inu coins help some people change their lives

Shiba Inu is the first cryptocurrency project developed by Ryoshi. Although this person posted a forum at the end of May showing signs of “leaving” the project, the interest in SHIB has not cooled down, even more vibrant than before. There was a time when SHIB was in the top 10 most valuable cryptocurrencies in the market, which is difficult for any coin to do after just over a year of launch since 2020.

Shytoshi Kusama is now the new successor to replace Ryoshi
Shytoshi Kusama is now the new successor to replace Ryoshi

The SHIB was launched in 2020, hitting an all-time low at $0.000000056366. It took a few months for SHIB to reach ATH (all-time high) 0.00008616 USD in October 2021.

Currently, in the midst of a bear market, the popular memecoin SHIB is trading around 0.00001062 USDwhich is nearly 90% lower than its ATH.

When will SHIB reach 1 USD?

This year, SHIB investors are still wondering if the digital currency they are “working hard on” has the ability to reach 1 USD?

To determine, we need to consider many different data. Shiba Inu has a total supply of around 589.6 trillion tokens at press time. If SHIB hits the $1 mark with this supply, its market cap will be $589.6 trillion.

This is an unbelievable number because if this happens, Shiba Inu will become the most valuable project in the world, 235 times the capitalization of Apple – the largest company in the world today.

To get the hypothetical $1 price, Shiba Inu needs to cut supply by more than 99%. The network has now started rolling out SHIB burning.

SHIB token burning speed (Source: shibburn.com)
SHIB Token Burning Rate
​(Source: shibburn.com)

Currently, a total of 12.6 million SHIB tokens have been burned in the last 24 hours. If this momentum continues, approximately 4.59 billion tokens will be burned annually.

According to calculations, based on the above data and the number of tokens to be burned, along with the current burning rate, SHIB investors must have waited more than 128,000 years for this memecoin to reach the 1 USD they want.

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