Currently the price of Shiba Inu Coin is experiencing an extraordinary rally in 2021. The meme-themed crypto asset skyrocketed from US$0.00000000133 at the end of 2020 to US$0.000033, or an increase of 26 million percent.
Shiba's success was driven by the crypto exchanges that opened Shiba coin trading. In addition, crypto memes have grown in popularity after the popularity of Dogecoin exploded
Thanks to the skyrocketing price of the Shiba inu, some proponents estimate the Shiba inu Coin can reach US $ 1. From its current price of US$0.000002, that means Coin Shiba Inu should soar by 4.7 million percent.
At first glance, this number seems achievable considering that Coin Shiba managed to climb significantly. But a closer calculation shows that increase is almost impossible to achieve
The price of the Shiba Inu Coin is very small because the supply is very large. There are currently 549 trillion Shiba Inu Coins circulating with a market capitalization of around US$11 billion. If SHIB costs US $ 1 per token, then the market capitalization of the Shiba Inu Coin will reach US $ 549 trillion.
That's 200 times more than Apple, the world's most valuable company, and six times more than global gross domestic product.
In other words, a massive reset of the world economy is required for the Shiba Inu Coin to reach US$1. This is an impossible achievement, although there is still a small chance.
There are two ways the price of the Shiba Inu Coin can increase. First, traders jack up the price through buying and selling. Second, the supply of Shiba Inu Coins is reduced so that each circulating Coin Shiba Inu is more valuable.