You might have seen online articles about how high Shiba Inu might go. Figuring out the answer can be fun.
The fixation on whether or not the altcoin will reach a price of $1 is strange. It won't. Not in 2022. Not in 25 years. Not by the end of this decade. Probably not ever. It doesn't matter.
The image is from the same source.
The mathematical reality.
There's a lot of math involved with cryptocurrencies. The investors don't have to understand the math to buy a digital coin. We need to bring math into the picture with the idea that Shiba Inu could go to $1.
The percentage gain is required. To reach $1, Shiba Inu would have to jump over 2 million%. The token has skyrocketed more than 50,000,000% over the last year. It was even higher before it was pulled back.
Huge gains are harder to achieve on top of huge gains. Sean Williams wrote about the $589 trillion problem. If the coin reaches a $1 price, Sean determined that it would have a market cap of $589 trillion. He pointed out that it's more than the $431 trillion total for all the wealth on the planet right now.
Sean's number might be disputed by you. The maximum supply of Shiba Inu is almost 600 trillion coins, while the circulating supply is close to 500 trillion coins. His point is correct, that a $1 price for Shiba Inu is impossible.
Who cares?
I don't care if Shiba Inu isn't going to $1. You should not. It doesn't matter.
The digital token would rise to $0.01 instead of $1, but only 1% of the goal. If you owned $400 worth of Shiba Inu coins today, that would give you $103,000. No one will complain about that return.
There's more important question to ask than whether or not Shiba Inu will hit $1. Whether or not the coin is more likely to go up or down should be the focus of investors.
Attempting to answer this question involves a lot of speculation. Your answer could be different than mine. It's worth considering, unlike the idea that Shiba Inu will reach $1.
A guessing game.
The future of Shiba Inu depends on the demand for the digital coin. Without rising demand, Shiba Inu sinks. It could go up with rising demand.
The demand for Shiba Inu might increase. Increasing real-world utility is the most likely scenario. As more merchants accept the coin and more apps are built featuring it, the price of Shiba Inu could move higher.
There are a number of scenarios where the demand for the altcoin could decline. Shiba Inu would plunge if cryptocurrencies fell out of favor. Even if cryptocurrencies remain popular, other competitors could push Shiba Inu to the side.
There's too much guessing involved with predicting which way the token will swing. Buying an asset is more like gambling than investing. I plan to stay away from Shiba Inu since I tend to be more successful in investing than gambling.
