Every time Watcher Guru writes an article on Shiba Inu (SHIB), the price only keeps declining. On Thursday, the dog-themed token has fallen to $0.0000048 levels with no sign of a price rebound. The trading volume is also on the decline, as the hype and buzz for the memecoin have largely faded.
Despite this, several commentators claim that Shiba Inu can reach the $0.01 mark. Let’s not get into the circulating supply of 549 trillion tokens and send them to the dead wallet for prices to surge. We have heard that on repeat since the Shibarium layer-2 solution was launched in August 2023. Shibarium did little to nothing to help the burns, and has only sent 1 billion tokens out of circulation.
The fact of the matter is that Shiba Inu must reach a market cap of around $5.5 trillion or more to reach the $0.01 level. That’s as good as breaching Germany’s GDP of $5.45 trillion and going above and beyond its economy. Germany is a whole country with a robust economy, and SHIB is just a memecoin. There is a heaven and earth difference between the two.
While breaching Germany’s GDP, it must also climb above the economies of Japan, the United Kingdom, and India, which are $4.38 trillion, $4.26 trillion, and $4.15 trillion. This is impossible to achieve, as that much money does not exist in the cryptocurrency market. Even Bitcoin’s market is $1.2 trillion, as its price hovers around the $64,000 level. It’s still a long way to the top for Shiba Inu to even reach the $0.0001 milestone.
Also Read: You Can Buy 1 Million Shiba Inu For Just $5: Is It Worth It?
So What Should Shiba Inu Investors Do?
There is no point in selling at a steep loss; the only option is to hold on to Shiba Inu and jump ship when it comes close to breaking even or making a slight profit. In addition, the $0.01 target must be kept to rest, as it only causes heartache. Also, buying the dips on SHIB is not recommended, as the bottom of the barrel could still be deep.