Can $SHIB Hit $0.005?

Although this analysis seems enticing, the major question revolves around whether Shiba Inu is capable of reaching the $0.005 mark, given its supply. 

Out of Shiba Inu’s total supply of 589.55 trillion tokens, approximately 589.25 trillion SHIB are in circulation. If the circulating supply remains at this level, Shiba Inu must surge 32,794% from its current price to reach the $0.005 target. 

Many might consider this growth highly unlikely due to investors committing funds to new tokens over existing ones. As a result, a massive burn is required to drastically reduce Shiba Inu’s supply to make the $0.005 target feasible. 

In a hypothetical scenario where Shiba Inu’s supply decreases to 50 trillion, SHIB would only need to soar by 2,693% from the current price to hit $0.005. This would put Shiba Inu’s market cap at $250 billion instead of the $2.94 trillion stated earlier. 

This content is informational and should not be considered financial advice.