Market Analyst Says Shiba Inu’s 1 Cent Dream is Far from Reality

According to a top market analyst, the price of Shiba Inu is unlikely to hit the 1 cent price mark as it will be unrealistic per capitalization tag

Shiba Inu (SHIB) is showing positive growth today, and the community expects more gains. Despite this, Aaron Arnold, founder of Altcoin Daily, says reaching $0.01 by next year is too much to ask. 

Arnold’s Reality Check on Shiba Inu Hype

In an X post, Arnold spoke on why the SHIB one-cent goal is impossible by next year. He believes many crypto traders overlook market capitalization in their price predictions, which can lead to unrealistic expectations. Arnold emphasized that SHIB’s price is not just about token demand; market cap plays a key role. 

He pointed out that the memecoin currently has a circulating supply of more than 589 trillion tokens. For the digital asset to hit the $0.01 goal, its market cap must top $5.89 trillion. He noted that to achieve this, SHIB  would need more than double the total market cap of all digital assets combined. 

I heard someone talking about they bought SHIB because if it only goes to 1c next year then they will be a millionaire.

This is literally not possible with SHIB’s current market cap.

Learn how to value coins in market cap vs price.

— Altcoin Daily (@AltcoinDailyio) October 6, 2024

According to CoinMarketCap data, Shiba Inu is trading at $0.000018, up 5.26% in the last 24 hours. Arnold noted that despite this growth, SHIB’s market price remains far from the $0.01 target.

The current positive expectation came from the token’s recent burn rate surge and the growing adoption of Shiba Inu. The growth of Shibarium is also a major positive boost for the token.  

Challenges and Optimism for Shiba Inu’s Future

While Arnold doubts Shiba Inu’s short-term potential, others are keeping the faith. The SHIB community maintains a high expectation of SHIB as against Arnold’s recent practical outlook. 

Last month, SHIB KNIGHT said that Shiba Inu All-Time High (ATH) is due. He predicted that the memecoin would jump by 316.8% from its current price. 

SHIB’s early surge came from speculation, meme status, and a small market cap, making rapid growth easier with modest demand. 

As SHIB’s market cap grew into the billions, repeating its early growth became challenging. The meme coin faces increased competition from rivals, reducing the hopes of higher price gains.

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