Here is the quick answer:
No, It’s impossible for the Shiba Inu coin to reach $10. For more information as to why it won’t reach the $10 mark, continue reading…
Will the Shiba Inu Coin (SHIB) price reach $10 USD in 2022? This article explores this possibility using real-time data from Coin Market Cap, starting with the fundamental value of the Shiba Inu coin. The current market cap of Shiba Inu Coin stands at over $13,995,430,261 USD and $1,258,864,561 worth of SHIB has been traded in the past 24 hours (at the time of writing this article). There are over 549,063.28 Billion Shiba Inu coins in circulation and it has been listed on exchanges since August 2020.
So, in this article, let’s see if it going to be possible for Shiba Inu to reach the $10 mark anytime soon.
Will Shiba Inu Coin Reach $10?
It’s literally impossible for Shiba Inu to reach $10.
The current market cap of Shiba is $14,023,557,810 and the current price is somewhere around $0.00002554. For it to reach $10, the coin has to give a return of 17 million percent, which is not at all possible.
Fun fact, even if Shiba reaches a market capitalization of more than the entire GDP of all countries combined, it won’t reach a price mark of $10.
Anybody following the cryptocurrency market over the past few years has seen some of the wildest price fluctuations ever experienced in any financial market. This volatility hasn’t just been limited to one or two coins either, with many cryptocurrencies experiencing gains and losses that range from hundreds to thousands of percentage points.
If you are interested to know if Dogecoin will hit $1000 then read that article as well.
What is Shiba Inu?
Shiba Inu, aka SHIB, is a cryptocurrency created in August of 2020. The creators of the coin are still anonymous. But they are identified by the name ‘Ryoshi’. Shiba Inu is considered a meme coin because it has been a part of a lot of pump and dump schemes. Anyways, it’s impossible for meme coins like this to reach $10.
Shiba Inu at $10: Conclusion
Hope you understand that Shiba will never hit $10. And the reasons why the coin won’t hit the $10 mark. Cryptos are notoriously volatile. But in order for Shiba to hit $10, it has to give an annual return of more than 17M %.