Shiba Inu While it is currently trading at $0.00001079, it has increased by 5% in the last 24 hours, according to CoinGecko data. The most important reason for this rise was the strong growth in Bitcoin price. As a result, he managed to delete a zero from the SHIB digit. On the other hand, the price attracted attention by increasing around 23% on a monthly basis.
However, since this increase generally depends on the Bitcoin price, it would be wrong to talk about a singular performance. this too SHIBThis means that it needs to do more than just correlate with BTC to get its price to $0.10.
As Koinfinans.com reported, the supply of Shiba Inu tokens is around 549 trillion. This represents a huge chunk worth $6.3 billion. However, in general, the market value did not strengthen much regardless of the increase in price.
For the SHIB price to reach 10 cents, it needs to increase its total value to $58.9 trillion with this token supply. u is more than 10,000 times its current market cap and even larger than Apple, Microsoft, and Tesla. Apple’s market cap is $2.82 trillion, Microsoft is $3.03 trillion, and Tesla is $625 billion.
These companies are world-famous companies that employ thousands of employees and introduce high-end technology. On the other hand, the Shiba Inu is a currency that has little to no use in the real world. Therefore, it is doubtful that SHIB will reach 10 Cent not only in the near term but also in the long term.
As a result, for the Shiba Inu to reach the 10 Cent level, firstly, the circulating supply must be reduced by approximately 90%, and secondly, its market value must increase tenfold.
