Shiba Inu investors have only one goal, and the goal is to make the token reach the $0.01 milestone. The “1 cent dream” is alive and kicking, and the majority of holders believe that SHIB will someday bring them good fortunes. Investors don’t mind holding Shiba Inu for decades to achieve the desired financial results when it hits the 1 cent mark.
The majority of holders who purchased $1,000 worth of SHIB before January 2023 would all be millionaires when it reaches $0.01. The million-dollar question now is — ‘When will Shiba Inu reach $0.01?’ — and how long will this take?
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When Will Shiba Inu Reach $0.01? Let’s Do the Math
The main problem holding Shiba Inu back from reaching $0.01 is the massive circulating supply of 549 trillion SHIB tokens. Reaching the 1 cent mark is a herculean task, as it needs to have a market valuation of $6.5 trillion. The numbers seem to be impossible to achieve, as that is bigger than Apple, Microsoft, Tesla, and Ford’s market cap combined.
For example, Apple‘s market cap stands at $2.26 trillion, and Microsoft is now at $1.80 trillion. Tesla and Ford’s market cap is $450 billion and $51 billion, respectively. Can Shiba Inu ever get a market capitalization bigger than these four Fortune 500 companies? Never.
To be precise, Shiba Inu needs to ‘burn’ nearly 90% of its circulating supply to even consider reaching $0.01. Therefore, SHIB needs to reach a circulating supply of 610 billion instead of its current supply of 549 trillion tokens.
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Now let’s do the math: In the last 24 hours, 150 million SHIB tokens were ‘burned’ and removed from circulation. The ‘burn’ numbers fluctuate every day, but let’s consider 150 million tokens to be ‘burned’ on average everyday.
If SHIB burns 150 million tokens every day, the number of tokens removed from circulation reaches 50 billion per year. Therefore, it would take nearly 1,000 years for Shiba Inu to reach $0.01 if 150 million tokens are burned every day.
Unless Shibarium comes along and indulges in heavy ‘burning’ mechanism, the years could eventually be reduced. Shibarium’s daily burning’ capacity remains to be unknown, as the Layer-2 network is yet to be released.
For the years to reduce, the ‘burning’ mechanism has to be more robust and faster. Can Shibarium solve the issue and help SHIB reach $0.01 faster? Only time will tell.