Shiba Inu’s $1 dream faces massive market cap hurdles ahead. Token burns slow, limiting Shiba Inu’s price growth potential. Market volatility keeps Shiba Inu’s price stuck within narrow range. Shiba Inu (SHIB) continues to spark bold predictions of a potential run to $1, but the figures suggest that reaching this target may be a distant dream. With a circulating supply of over 589 trillion tokens, a price of $1 would require an astronomical market cap of $589 trillion. This figure dwarfs the global GDP, which stands at around $114 trillion, and would be nearly five times larger than the entire cryptocurrency market cap, which is currently valued at $4 trillion. According to experts, the sheer size of SHIB’s supply remains its greatest obstacle. Also Read: Coinbase XRP Cold Wallet Finally Drops to Zero? Challenges in Reducing the Circulating Supply While Shiba Inu’s development team has implemented token burns in hopes of lowering the circulating supply, the current pace of burns has not made a significant dent. The burning process, although ongoing, is still too slow to facilitate major price increases. Experts point to this issue as a key barrier to SHIB achieving any substantial growth in its value. Without large-scale burns or a significant uptick in demand, the coin’s value is likely to remain stagnant. Current Market Trends: A Volatile Ride In recent market activity, SHIB showed a minor uptick of 0.13%, trading at $0.00001223. However, its 24-hour trading volume decreased by over 22% compared to the previous day, totaling $200.54 million. The price fluctuations tell a story of the volatility that has come to define meme assets like Shiba Inu. For instance, the price peaked at $0.00001226, only to fall below $0.0000120 by the evening, before making a slight recovery above $0.0000122 by morning. These shifts underscore the unpredictable nature of SHIB’s price movements, which continue to follow the highs and lows typical of meme coins. Source: CoinMarketCap A Narrow Range with Limited Potential Shiba Inu’s price action has remained largely within a narrow range in recent weeks. Despite some moments of brief gains, the market has shown little sustained momentum in either direction. The token’s market cap currently stands at $7.21 billion, a number that mirrors its fully diluted valuation, highlighting that price shifts have not significantly impacted SHIB’s overall value. Analysts suggest that unless there is a surge in demand or the burn process accelerates dramatically, Shiba Inu’s price is unlikely to experience any significant breakthroughs. Also Read: CFTC’s Strategic Initiative to Shape the Future of Digital Assets and Finance The post Shiba Inu’s $1 Dream: A Far-Off Goal Amidst Surging Market Challenges appeared first on 36Crypto. Shiba Inu’s $1 dream faces massive market cap hurdles ahead. Token burns slow, limiting Shiba Inu’s price growth potential. Market volatility keeps Shiba Inu’s price stuck within narrow range. Shiba Inu (SHIB) continues to spark bold predictions of a potential run to $1, but the figures suggest that reaching this target may be a distant dream. With a circulating supply of over 589 trillion tokens, a price of $1 would require an astronomical market cap of $589 trillion. This figure dwarfs the global GDP, which stands at around $114 trillion, and would be nearly five times larger than the entire cryptocurrency market cap, which is currently valued at $4 trillion. According to experts, the sheer size of SHIB’s supply remains its greatest obstacle. Also Read: Coinbase XRP Cold Wallet Finally Drops to Zero? Challenges in Reducing the Circulating Supply While Shiba Inu’s development team has implemented token burns in hopes of lowering the circulating supply, the current pace of burns has not made a significant dent. The burning process, although ongoing, is still too slow to facilitate major price increases. Experts point to this issue as a key barrier to SHIB achieving any substantial growth in its value. Without large-scale burns or a significant uptick in demand, the coin’s value is likely to remain stagnant. Current Market Trends: A Volatile Ride In recent market activity, SHIB showed a minor uptick of 0.13%, trading at $0.00001223. However, its 24-hour trading volume decreased by over 22% compared to the previous day, totaling $200.54 million. The price fluctuations tell a story of the volatility that has come to define meme assets like Shiba Inu. For instance, the price peaked at $0.00001226, only to fall below $0.0000120 by the evening, before making a slight recovery above $0.0000122 by morning. These shifts underscore the unpredictable nature of SHIB’s price movements, which continue to follow the highs and lows typical of meme coins. Source: CoinMarketCap A Narrow Range with Limited Potential Shiba Inu’s price action has remained largely within a narrow range in recent weeks. Despite some moments of brief gains, the market has shown little sustained momentum in either direction. The token’s market cap currently stands at $7.21 billion, a number that mirrors its fully diluted valuation, highlighting that price shifts have not significantly impacted SHIB’s overall value. Analysts suggest that unless there is a surge in demand or the burn process accelerates dramatically, Shiba Inu’s price is unlikely to experience any significant breakthroughs. Also Read: CFTC’s Strategic Initiative to Shape the Future of Digital Assets and Finance The post Shiba Inu’s $1 Dream: A Far-Off Goal Amidst Surging Market Challenges appeared first on 36Crypto.

Shiba Inu’s $1 Dream: A Far-Off Goal Amidst Surging Market Challenges

  • Shiba Inu’s $1 dream faces massive market cap hurdles ahead.
  • Token burns slow, limiting Shiba Inu’s price growth potential.
  • Market volatility keeps Shiba Inu’s price stuck within narrow range.

Shiba Inu (SHIB) continues to spark bold predictions of a potential run to $1, but the figures suggest that reaching this target may be a distant dream. With a circulating supply of over 589 trillion tokens, a price of $1 would require an astronomical market cap of $589 trillion. This figure dwarfs the global GDP, which stands at around $114 trillion, and would be nearly five times larger than the entire cryptocurrency market cap, which is currently valued at $4 trillion. According to experts, the sheer size of SHIB’s supply remains its greatest obstacle.


Also Read: Coinbase XRP Cold Wallet Finally Drops to Zero?


Challenges in Reducing the Circulating Supply

While Shiba Inu’s development team has implemented token burns in hopes of lowering the circulating supply, the current pace of burns has not made a significant dent. The burning process, although ongoing, is still too slow to facilitate major price increases. Experts point to this issue as a key barrier to SHIB achieving any substantial growth in its value. Without large-scale burns or a significant uptick in demand, the coin’s value is likely to remain stagnant.


In recent market activity, SHIB showed a minor uptick of 0.13%, trading at $0.00001223. However, its 24-hour trading volume decreased by over 22% compared to the previous day, totaling $200.54 million. The price fluctuations tell a story of the volatility that has come to define meme assets like Shiba Inu. For instance, the price peaked at $0.00001226, only to fall below $0.0000120 by the evening, before making a slight recovery above $0.0000122 by morning. These shifts underscore the unpredictable nature of SHIB’s price movements, which continue to follow the highs and lows typical of meme coins.


shib

Source: CoinMarketCap

A Narrow Range with Limited Potential

Shiba Inu’s price action has remained largely within a narrow range in recent weeks. Despite some moments of brief gains, the market has shown little sustained momentum in either direction. The token’s market cap currently stands at $7.21 billion, a number that mirrors its fully diluted valuation, highlighting that price shifts have not significantly impacted SHIB’s overall value. Analysts suggest that unless there is a surge in demand or the burn process accelerates dramatically, Shiba Inu’s price is unlikely to experience any significant breakthroughs.


Also Read: CFTC’s Strategic Initiative to Shape the Future of Digital Assets and Finance


The post Shiba Inu’s $1 Dream: A Far-Off Goal Amidst Surging Market Challenges appeared first on 36Crypto.

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