Posted 2/20/2024, 11:45:00 AM
Shiba Inu Token Soars in 2021 But Unlikely to Reach $1
- Shiba Inu token surged over 43 million percent in 2021 but has since fallen 89% from its all-time high
- Crypto sentiment is recovering in 2024, but speculation around meme tokens like Shiba Inu remains muted
- For Shiba Inu to reach $1, its market cap would have to exceed global wealth at over $589 trillion
- Theoretically token burning could push the price to $1, but it would take over 140,000 years at the current pace
- Even if the token reached $1, most investors would not actually profit due to proportional declines in token balances