I see lots of people who bought shiba Inu wishing it gets to $1, most of them have started dreaming and building houses in the sky and I can’t help but wish they know how market capitalizations, demand, supply and percentage gains work before they wish this hard.
Shiba Inu is known as the meme coin sensation which was created and labeled to be the Dogecoin killer. Ironic how killer coin had another killer coin created for it.
Dogecoin was created as a bitcoin killer, shiba Inu was created as a Dogecoin killer.
Well, it came close as the demand for shiba Inu really rose and the token got a massive gain, became so popular and got listed on crypto exchanges. Cool right, but the constant wish that Shiba Inu will get close to $10 or even $1 is economical close to being impossible. Aside that, we have seen other tokens like the Safemoon and the safemars token whose hype felt like it was going to be a game changer get stuck in a massive decline or stable price.
Before you dream of Shiba Inu getting to $10, think of the supply of Shiba Inu. The supply of Shiba Inu is 549 Trillion, let me repeat that again, it’s 549 Trillion. If this alone doesn’t show how absurd and impossible it is for shiba Inu to reach $1 then I will explain further. If Shiba Inu reaches $1, then its market cap will be $549 Trillion, which is far more than that of the total crypto market cap. As a matter of fact it’s going to be 500 times the Bitcoin Market Cap. If shiba Inu gets to $10 then we are expecting the market cap to be over $1 Quadrillion or 5 Quadrillion.
For Shiba Inu to get to this price, the demand for Shiba Inu has to be over 40 Million percent in demand. This means that people will want to have it more 40 Million times before the price can get up to that amount. Why would people want to have shiba Inu, what is its utility or use case? Why would I choose shiba lnu over other cryptocurrencies with utilities and use case. The competition in the crypto market is way higher than it used to be, every one is focusing on one coin or the other besides, the market cap of shiba Inu will have to be way more than the United States GDP and other countries included. Where will all that money come from to spike the price of Shiba Inu.
Besides, what are the identities of the creators of shiba Inu? They are also anonymous, so why do you trust the token so much? Do you think the token will be sustainable in the next 5 years? I don’t know how much burn will have to be performed to reduce the market cap of shiba Inu to a more realistic one to make it possible.
Choosing great coins with more utilities is one of the safest ways of creating wealth in the crypto market. I wish more crypto newbies knew this before jumping into crypto investment and wishing blindly. When you buy tokens like shiba Inu, you get lots of quantity worth less amount, for instance, you can get millions of token for $50. Imagine getting 24 Million token for $50, then you start wishing it gets to $1 so you can have $24 Million. 😂 that’s a dream that may never come through. If you have made profits and gains off shiba Inu, pull out and invest in something more plausible. Don’t keep waiting for the $1 or $10 price before you pull out.