Recent disclosure from the Shiba Inu team indicates that while SHIB’s potential surge to $1 is not a joke, it frames the prediction as an achievable target that requires the alignment of multiple factors.
Since its launch in August 2020, Shiba Inu has welcomed multiple bullish predictions from notable crypto analysts. This trend gained momentum after the 2020/2021 bull run when SHIB stunned investors with its remarkable rally.
Of all the predictions issued for Shiba Inu, the $0.01 target has sparked the biggest debate in the community, with members weighing in on whether the projection is achievable. Notably, Shiba Inu’s marketing lead, Lucie, is among those who think SHIB is capable of hitting $0.01 in its lifetime.
SHIB to $1?
While the community was still debating the $0.01 forecast, Lucie ignited a larger conversation by sharing her ChatGPT session on whether SHIB could soar to $1. Interestingly, the chatbot affirmed that SHIB’s potential surge to the $1 mark is ‘not impossible.’
According to ChatGPT, hitting the $1 mark demands a perfect storm. The factors expected to drive the token to this target are SHIB’s integration into everyday payment systems and gaming apps, widespread Shibarium adoption, a broader market rally of up to 10x, and massive utility from other Shiba Inu ecosystem tokens like BONE and TREAT.
Further, the chatbot highlighted the importance of consistent SHIB burns as a major factor that could drive the token’s price to $1. It suggested that this consistent burn could help Shiba Inu remove trillions of tokens from its supply over time.
Not a Joke, But a Challenge
Consequently, ChatGPT asserted that Shiba Inu’s potential surge to the $1 mark is not a promise nor a joke. Instead, it frames it as a daunting challenge that requires the alignment of multiple factors, such as widespread adoption of Shiba Inu and Shibarium, consistent SHIB burns, and broader market bull run.
Is $1 a Realistic Target?
For context, Shiba Inu is currently trading at $0.00001442, marking a 24-hour increase of 6.42%. However, its price has slightly increased by 8.68% in the past 30 days. Therefore, reaching the $1 target demands a whopping surge of 6,934,712% from the current price.
At $1, Shiba Inu would have a jaw-dropping market cap of $589.5 trillion, assuming its supply remains constant–a milestone that surpasses the valuation of major assets and companies.
For instance, precious metal gold is currently valued at $22.54 trillion. Additionally, Shiba Inu’s projected market cap at $1 exceeds the global broad money supply estimated at around $129.3 trillion in Q2 2024.
Therefore, for Shiba Inu to stand a chance of reaching the $1 mark, the token must undergo consistent burns, as ChatGPT recommended. In a scenario where 99% of Shiba Inu’s current supply goes up in flames, SHIB would be left with 5.89 trillion tokens.
With 99% of Shiba Inu’s supply burned, a $1 price tag would translate to an ambitious but far more attainable market cap of $5.89 trillion.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
