The latest cryptocurrency crash has many people debating the viability of cryptocurrencies as a whole. While some argue that they are going to be around forever, others say we should stop investing in this space altogether because it’s simply a bubble.
The “shib coin price prediction” is a question that many people are asking. The answer to the question, is it will SHIB Coin reach 50 cents?. If you want to know more about this cryptocurrency, then read on.
SHIB is one of the most recent cryptocurrencies with a sizable community. According to several publications, YouTube videos, and forum postings, Shiba Inu (SHIB) cryptocurrency may or will exceed $0.50 in value.
Regrettably, such statements are not just deceptive; they are also harmful to us, the retail investors. We’ll explain why SHIB will never achieve 50 cents in this essay.
Because it is fiscally unreasonable and theoretically impossible, Shiba Inu (SHIB) will never hit $0.50 or 50 cents. There isn’t enough money in the world to bring the price of SHIB down to 50 cents.
SHIB’s entire market value will be $274 trillion at a $0.50 valuation, which is 14 times US GDP, 3.5 times global GDP, 274 times more than Bitcoin, 550 times more than Ethereum, 137 times more than Apple Inc. (AAPL), and 274 times more than Tesla is a well-known inventor (TSLA).
Let’s get into further detail.
Dogecoin is a cryptocurrency that exists independently of Bitcoin. There is a mining mechanism in place for these cryptos. Thousands of mining machines (rigs) are used by independent miners across the globe to keep the network functioning.
SHIB, on the other hand, is a cryptocurrency based on ERC20 tokens. It indicates that the Shiba Inu (SHIB) currency has no autonomous mining network. It’s an Ethereum-based smart-contract cryptocurrency, comparable to Binance Coin (BNB), Tether (USDT), Chainlink (LINK), USD Coin (USDC), TRON (TRX), and others.
As a result, the SHIB coin is not a novel concept. On the Ethereum network, it’s another ERC20 token. However, credit must be given where credit is due. On Reddit, Twitter, Facebook (Meta), YouTube, and other social media sites, the SHIB community is active.
Despite the fact that SHIB is identical to other ERC20 token currencies, the community is what sets it apart.
There are presently 549 trillion SHIB coins in circulation, according to CoinMarketCap. Trillion is correct. There were 1000 trillion SHIB (1 quadrillion) in the start, but roughly 451 trillion were locked up or burnt forever.
Shiba Inu (SHIB) needs a total market value of $549 trillion x $0.50 = $274.5 trillion to reach $0.50. Let’s see how this market cap stacks up against other financial products and see whether it makes sense.
- The Federal Reserve estimates that there are around $8 trillion in coins in circulation across the globe.
- According to the US government, the country collects $4 trillion in taxes each year.
- The United States’ entire Gross Domestic Product (GDP) is about $20 trillion, whereas China’s GDP is roughly $14 trillion, according to the Federal Government.
- The global GDP is estimated to be over $80 trillion. (source)
The market capitalization of different prominent stocks and metals throughout the globe is shown in the table below.
|Microsoft is a company that specializes in (MSFT)||$2.48 trillion dollars|
|Apple (AAPL)||$2.47 trillion dollars|
|Tesla (TSLA)||1.1 trillion dollars|
|Amazon is a company that sells books (AMZN)||1.7 trillion dollars|
|Google is a search engine (GOOGL)||1.9 trillion dollars|
|Gold||$11.3 trillion in debt|
|Silver||1.3 trillion dollars|
|Bitcoin||1.1 trillion dollars|
|Ethereum||0.52 trillion dollars|
|US GDP||$20 trillion is a huge sum.|
|China GDP||a total of $14 trillion|
|World GDP||$80 trillion is a huge sum.|
|The Total Market Capitalization of the World’s Stock Exchanges||97 trillion dollars|
The market capitalization of Bitcoin is $1.1 trillion. This is due to the fact that there are 18.8 million Bitcoin in circulation. Each Bitcoin is now valued at roughly $62,000. As a result, the market capitalization of Bitcoin is 18.8 million x $62,000 = $1.1 trillion.
Shiba Inu’s entire market value must reach $549 trillion x $0.50 = $274.5 trillion in order for SHIB to hit 50 cents.
The whole cryptocurrency market cap, including all coins and tokens, is less than $2 trillion.
It defies logic that SHIB’s market valuation is 274 times more than Bitcoin’s, 550 times greater than Ethereum’s, 137 times greater than Apple’s, and 14 times greater than US GDP. As a result, basic logic dictates that the SHIB coin will never be worth more than $0.50 or 50 cents.
SHIB is built on Ethereum’s ERC20 protocol. On the Ethereum network, SHIB is a monetary token. Unlike Apple, Tesla, or Microsoft, it is neither a product nor a platform.
Apple, Tesla, Google, and other valuable firms provide good products that people use and enjoy. It’s why they’re a multibillion-dollar corporation. SHIB, on the other hand, is a currency rather than a commodity. Long-term, a currency has no intrinsic worth.
When SHIB is nothing more than an Ethereum-based ERC20 token, it’s ludicrous that its overall market value will be more than Bitcoin, Ethereum, Apple, Tesla, and other major enterprises.
As investors, we must be passionate about our investments. Being an emotional investor taints our judgment and causes us to make poor financial judgments. Please make cautious investments.
Shiba Inu (SHIB) will never reach $0.50 or 50 cents.
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The “will shiba inu reach 1 cent in 2021” is a question that has been floating around the internet for a while now. There are many people who believe that SHIB coin will reach 50 cents by 2021.
Frequently Asked Questions
Will SHIB reach 10 cents?
A: It is impossible to say. SHIB has never reached this price, but the market could change dramatically at any time and it will be difficult to predict what would happen if that were to happen.
Can Shiba Inu reach 1 cent in 2025?
A: The date of December 25th, 2025 is not a realistic possibility for this. Shiba Inus can reach 1 cent in 2033 and it will probably take around 10 more years to get there.
Can Shiba Inu reach 1 dollar?
A: For now, Shiba Inu is not worth as much as 1 dollar.
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