In 2023: Will Shiba Inu (SHIB) reach $1?: What would happen if you purchased $100 worth of Shiba Inu today, and in 2023, SHIB would cost $1?

Your portfolio’s value would be $10.8 million at this time. It’s a significant financial amount. And let’s not even begin to discuss if you spent $1,000 or $10,000 on Shiba Inus.

But in 2023, will Shiba Inu reach $1?

The quick response is probably NO.

Shiba Inu could burn its way to $1.

The price of SHIB today would be $0.1 if Shiba Inu sent 589 trillion tokens to the burn address.

410 quadrillion SHIB tokens were already delivered to the burn address by Vitalik Buterin in one transaction in 2021. Could it happen the same way again? Could Shiba Inu reach $1 through burning?

I doubt it. Over 1.2 million Shiba Inu owners have possession of those 589 trillion tokens. They aren’t burning many of them either. There were only 661 million SHIB tokens burnt in November, with a value of about $6,000.

Shiba Inu might need to pick up a few tips from cryptocurrencies like EverGrow if it wants to even consider burning its way to $1. It is a token that burns supply obtained via a transaction tax (2% of each purchase or sale) and creates applications that transmit 100% of their earnings to burning EverGrow.

In November, EverGrow almost ran out of its available supply, which is worth more than $250,000.

Here is some information on EverGrow: https://evergrowegc.com/

Will Shiba Inu’s market cap reach $1?

Here is what needs to occur for Shiba Inu to reach $1 through investment alone.

To reach $590 trillion, the Shiba Inu market valuation needs to increase. That is 590 times larger than the whole cryptocurrency market. It is over 30 times larger than the GDP of the United States.

Therefore, it is unlikely to occur in 2023.

Shiba Inu will increase by 760% to $0.00008 if it can reach its all-time high. But from there, it’s a long way to $1. It is advisable to aim for more attainable goals while crypto is still in a bearish cycle.