Here is the ONLY Event Needed for Shiba Inu Holders to Get Rich

Shiba Inu holders could witness the much-anticipated surge in their investment returns on the back of just one significant event.

The crypto market has not fared well, but some investors remain confident in a potential rebound. For one, Shiba Inu holders have maintained optimism despite the asset’s discouraging performance this year. For context, SHIB is down 40.6% year-to-date, currently trading at the $0.000012 region.

Shiba Inu Price Predictions Amid Bullish Sentiments

However, sentiment remains slightly bullish amid positive technical indicators. Data from the market analytics tool CoinCodex confirms that Shiba Inu sentiment is 55% bullish and 45% negative. 

One of the factors contributing to this positive sentiment is the confidence that Shiba Inu could engineer an impressive run from here, particularly replicating its historic rally from 2020 to 2021. Interestingly, Shiba Inu price predictions for when this run materializes have ranged from $0.00017 to loftier targets such as $0.01. 

Meanwhile, projections of a possible rally to as high as $1 have also emerged. Specifically, the trading platform CoinW rekindled discussions around this price prospect three months ago. 

How Feasible are These Predictions

Some of these price predictions, like $0.00017, are well within reach, while others, such as $0.001, would prove difficult for the asset to attain. However, some projections are just outright impossible unless there is a drastic change in tokenomics. One such prediction is the $1 goal.

Notably, the only obstacle stopping Shiba Inu from ever claiming the $1 price is its large circulating supply. For context, the meme coin currently has a circulating supply of 589 trillion, making it the asset with the largest circulating supply among the top 100 cryptocurrencies.

To put things into perspective, if Shiba Inu ever attained $1 with the current circulating supply, its market cap would soar to $589 trillion, larger than gold, the largest asset by market, which has a valuation of $22.4 trillion. This $589 trillion market cap would also surpass the total M2 money supply of about $123 trillion, making it impossible to achieve. 

One Event That Could Make Shiba Inu Holders Rich

As a result, the only event that can help Shiba Inu attain a unit price of $1 is a massive large-scale burn. Even if the Shiba Inu ecosystem team succeeds in burning 90% of the supply, amounting to 530.1 trillion tokens, SHIB would still have a circulating supply of 59 trillion tokens. At this new supply, a $1 price would lead to a $59 trillion market cap, which is also impossible.

However, if the ecosystem team were able to incinerate nearly all the asset’s supply, leaving just 100 billion tokens, Shiba Inu would have a realistic market cap of $100 billion at a price of $1. This event is capable of allowing a price spike to $1, which would undoubtedly deliver massive returns for all Shiba Inu holders.

For instance, an investor who procures 1 million Shiba Inu tokens at the current price of $0.000012 would spend just $12 to amass the tokens. Interestingly, if Shiba Inu rides on the massive burn event to hit a $1 price, these 1 million tokens would be worth $1 million. This would replicate SHIB’s previous run.

Nonetheless, while the prospect of such a massive burn can be enticing, it is important to note that it is practically impossible. Notably, the ecosystem team holds no power over Shiba Inu’s supply and cannot singlehandedly decide to burn up trillions without first buying them. However, procuring these tokens is not a feasible goal.