The Question That Everyone Is Asking Without Daring To Ask It – Can SHIBA INU Reach $1 One Day?
Mathematics gives you the answer immediately.
This issue of In Bitcoin We Trust Newsletter is for all subscribers. To get more insights on Bitcoin, you may be interested to upgrade to the premium package.
As you know, I am a Bitcoiner. I've never hidden it. De facto, I see decentralization as a necessity to solve the money problem and fight censorship on the Internet.
The moment you understand why decentralization is essential for a better future world for everyone, then you won't like the Sh*tcoins that are swarming the cryptocurrency world. Not a day goes by without new Sh*tcoins being created.
I just went to CoinMarketCap and there are over 15,786 cryptocurrencies listed. Amongst these cryptocurrencies, you have 99% of Sh*tcoins whose value will eventually tend to zero. It will take more or less time of course, but that is the fate of these Sh*tcoins. Among these, there is a project that has been making a lot of noise about the second half of 2021: it is SHIBA INU (SHIB).
SHIBA INU's market cap reached an ATH of $41 billion at the end of October 2021
Taking advantage of the free marketing of Elon Musk who has a passion for the dog of the same name, the SHIBA INU project has benefited from tweets from the CEO of Tesla and SpaceX to increase its notoriety. More and more people came to buy SHIBA INU, abandoning Dogecoin (DOGE), and its price rose sharply.
This had a snowball effect, and its market cap even ended up exceeding $41 billion at the end of October 2021. Some Whales then had fun pumping the price of SHIBA INU before taking advantage of it at the time of the orchestrated dump.
I talked about this at the time, explaining that we should be more careful with SHIBA INU, but especially with all the Sh*tcoins as a whole. Because what happens with SHIBA INU will happen in the future with other Sh*tcoins. Some will make a lot of money, while those who arrived too late will lose a lot.
It is better to stay away from SHIBA INU if you value the fruits of your labor.
Some people are now fantasizing about a SHIBA INU priced at $1 one day
Nevertheless, I hear people around me telling me that Bitcoin is outdated and that it is too late to benefit from it. This is part of the 23 worst pieces of advice ever given in the Bitcoin world since its inception. I've already explained my views on the subject and what the 7 signs are that buying Bitcoin today still makes you an early adopter. People who tell me this are fiatcoiners who are switching to the shitcoin side. They want to make as much money as possible in as little time as possible.
Greed is an ugly flaw that will cost them dearly sooner or later in my humble opinion. But only time will tell.
Among the subjects that come back to these people, there is the fantasy of a SHIBA INU whose price could reach $1 one day. As a reminder, the price of the SHIBA INU is currently $0.00003123 at the time of writing.
Since last year at this time, the price of SHIBA INU was $0.00000000001, the price of this coin has increased more than 30 million times in one year. One dollar invested one year ago would be worth 32 million dollars today ... Of course, you would have had to have heard about the SHIBA INU at the time, and above all, you would have had to be so convinced in this project that you remained a HODLer throughout the year.
Not easy ...
After its late October 2021 ATH at $0.00008845, the SHIBA INU has since begun its dump. Like the rest of the cryptocurrency and Bitcoin market. The current fear of a Bear Market does not favor Sh*tcoins being sold by speculators.
A SHIBA INU priced at $1 would imply a market cap of $589T ...
That being said, I will clearly explain to you why I can already step forward and tell you why the SHIBA INU will never reach $1. Even though I always tell you that I cannot predict with certainty the price of an Altcoin, I can at least stick to mathematics to show you what is rational and what is fantasy.
The number of SHIBA INU tokens currently outstanding is 549,058B. The total supply is currently fixed at 589,735,763,816,337 tokens. Finally, I remind you that the supply is not hard-capped. Taking the current total supply, a SHIBA INU at $1 implies a market cap of $589,735,763,816,337. SHIBA INU would have to have a market cap of $589T for its token price to be $1.
This number may not speak to you without putting it into perspective. I wrote an article earlier in which I put Bitcoin's market cap in perspective with that of other markets:
Here is the very telling illustration I created for that article:
Since then, the Bitcoin market cap has fallen of course, but that doesn't matter for what I am trying to show you.
With a market cap of $589T, SHIBA INU would represent more than:
The global stock market: $96T.
The global money supply: $100T.
The global real estate market: $290T.
The global debt: $300T.
The global wealth: $370T.
SHIBA INU will never reach $1. Period
No need to go further. You have understood that the SHIBA INU will not be able to represent a higher valuation than the global wealth. The hypothesis of a SHIBA INU token priced at $1 is therefore a fantasy, a utopia that must be forgotten as soon as possible.
The next time someone will talk to you about it, as is the case with some people around me, just choose to go back to mathematics. You can put an end to all discussions. You will save precious time.
Stay strong, Stay away from Sh*tcoins.
If You Can’t Kill Bitcoin, Join Bitcoin – Central Banks Will Follow the Same Path As Private Banks. If Bitcoin does not need central banks, central banks will need Bitcoin.
On the Importance of Zooming Out With Bitcoin. A year ago, Bitcoin broke the $20k mark, everyone was euphoric. Today, Bitcoin is at $46K, and everyone is scared.
You Will Never Have All The Answers – Use Mike Horn’s 5% Rule To Take Action With Bitcoin. Take action, and then adapt little by little.
Having Trouble Understanding How Bitcoin Mining Works? This Reverse Lottery Analogy Should Help. Understanding how Bitcoin works is essential.