According to ChatGPT, Shiba Inu might reach $1 within the next 5–10 years. Reaching $1 from current levels translates to a growth rate of 12376137.62%. However, there are issues with SHIB reaching this price point.
As per the forecast, Shiba Inu (SHIB) can attain $1 by attaining massive mainstream adoption and having high developmental activity. The AI chatbot mentioned that SHIB would have to become “a widely accepted form of payment or be integrated into popular platforms.” ChatGPT also said that SHIB would need “a large community of developers who create groundbreaking dApps and projects.”
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The AI chatbot ended its prediction with “In the most optimistic scenario, with exponential growth and everything aligning perfectly, we might see SHIB approach the $1 mark in the next 5-10 years.”
Can Shiba Inu actually reach $1?
If SHIB were to hit $1, the project’s market cap would reach an astronomical $589 trillion, as there are that many tokens in circulation. This is not feasible and, hence, a very unlikely scenario. SHIB’s price, therefore, will probably not reach $1 with that many tokens still in circulation.
Many people have suggested that SHIB could reach $1 if a large portion of its supply gets burned away. The supply would need to come down to the millions if the market cap is to be realistic. Moreover, burning trillions of SHIB tokens could take years with the current burn rate.
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However, the Shiba Inu (SHIB) team has said that they will release a new burn mechanism very soon. According to some, the new burn mechanism can burn trillions of tokens every month. This could greatly help SHIB’s journey to $1. At press time, SHIB was trading at $0.00000808, down by 3.1% in the last 24 hours.