Shiba Inu ($0.01) Dream Vs Reality of Market Capitalization

With a circulating supply of over 589 trillion tokens, Shiba Inu's market cap would need to surpass $5.89 trillion for the coin to hit one cent.

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Shiba Inu (CRYPTO: SHIB) is expected to close out the year with a whimper, as its price has remained largely stagnant over the past few months. Despite minimal price action, SHIB has managed to gain attention on social media, particularly with regard to its potential to hit $0.01 in 2023.

While some remain optimistic about this possibility, others have expressed skepticism, highlighting the astronomical market capitalization that would be necessary for SHIB to reach this milestone.

Shiba Inu’s circulating supply and market capitalization: As of press time, Shiba Inu trades at $0.00001734, with a circulating supply of approximately 589.27 trillion tokens, translating to a market capitalization of around $10.22 billion.

With a current price of $0.00001734 and a circulating supply of 589.27 trillion tokens, SHIB would need to multiply its value by 57,667 times, or to be precise, to reach $0.01. This would put SHIB's market cap at an astonishing $5.895 trillion.

To put this into perspective, the total market capitalization of all digital assets combined currently stands at less than $2.4 trillion, according to CoinMarketCap. Hence, for SHIB to reach $0.01, it would need to be valued at more than twice the entire crypto market.

A critical mistake that rookie crypto traders make when attempting to predict future prices is failing to integrate market capitalization into their calculations. This oversight can lead to unrealistic goals and disappointment down the line.

In the case of SHIB, reaching $0.01 next year is not on the cards, as the market capitalization that would be needed to support such a valuation is “literally impossible,” Arnold said, countering these optimistic forecasts.

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