Shiba Inu (SHIB) has been a hot topic in the crypto world, with its loyal community hoping it will reach the elusive $1 mark. But is this dream realistic, especially as we step into January 2025? In this article, we’ll explore the current trends and key factors that could influence SHIB’s journey to $1.
How has the Shiba Inu Price Moved Recently?
The current price of Shiba Inu (SHIB) stands at $0.00002119, with a 24-hour trading volume of $465.60 million. It has a market capitalization of $12.48 billion, representing a market dominance of 0.38%. Over the past 24 hours, SHIB's price has risen by 2.13%.
Shiba Inu reached its all-time high of $0.00008819 on October 28, 2021. In contrast, its lowest-ever price was recorded on November 28, 2020, at $0.0000000005637. Since its peak, SHIB's lowest point was $0.000005821 (cycle low), while its highest point during the recovery phase was $0.00004501 (cycle high). Currently, market sentiment for Shiba Inu remains bearish, with the Fear & Greed Index at 66 (Greed).
The circulating supply of Shiba Inu is 589.26 trillion SHIB, out of a maximum supply of 589.74 trillion SHIB. The annual supply inflation rate is -0.01%, indicating a reduction of 44.79 billion SHIB in the past year.
Will Shiba Inu coin Reach $1 in January 2025?
Shiba Inu (SHIB) has captured the imagination of its community with ambitious goals and consistent innovation, but the question of whether it can reach $1 by January 2025 is a complex one. Currently priced at $0.00002119, achieving $1 would require an astronomical price increase of nearly 4,717,361%.
Given its circulating supply of 589.26 trillion tokens, reaching $1 would push SHIB's market capitalization to an impossible $589.26 trillion, which is significantly higher than the GDP of the world’s largest economies combined. This makes the $1 target highly improbable within the given timeframe.
That said, Shiba Inu price has shown impressive performance and development. Over the past year, it has grown by 97%, outperforming 71% of the top 100 cryptocurrencies. The upcoming launch of "SHIB: The Metaverse", which includes over 100,000 virtual land plots for building and monetization, introduces tangible utility to SHIB's ecosystem.
This project could attract new investors and enhance its long-term value, providing a foundation for steady price increases. Furthermore, SHIB is trading above its 200-day simple moving average, a bullish indicator, and has a negative inflation rate of -0.01%, suggesting that its token supply is slightly decreasing over time.
Despite these positives, several barriers make the $1 target unrealistic. For SHIB to reach such a level, drastic reductions in its token supply or an unprecedented influx of capital would be necessary.
The current circulating supply is simply too high to support a $1 price without pushing its market cap into unattainable territory. Moreover, while the Metaverse initiative adds utility, SHIB still lags behind major cryptocurrencies like Bitcoin in terms of adoption and industry integration. It is also worth noting that SHIB is still 76% below its all-time high of $0.00008819, achieved in October 2021. Even returning to that peak would require a 316% increase, which is challenging but far more realistic than reaching $1.
Assuming SHIB price maintains its annual growth rate of 97% and benefits from increased adoption through its Metaverse launch, the coin could realistically reach a price of $0.000042 to $0.000084 by January 2025, representing a 2x to 4x growth from its current value.
While this would be a significant achievement, SHIB price falls far short of the $1 milestone. Reaching $1 would require unprecedented circumstances, including widespread adoption, exponential capital inflow, and drastic supply reductions, none of which appear feasible within the next year.
While Shiba Inu is poised for steady growth driven by its innovation and community support, the $1 target is far beyond reach in the current market and economic environment. Investors should approach with realistic expectations, focusing on the incremental gains that SHIB can achieve as it continues to build utility and strengthen its ecosystem.
