- Shiba Inu reaching $1 is mathematically impossible due to its massive token supply and required market capitalization.
- Shibarium is nearing 1 billion transactions, with developments expanding its role in blockchain innovation.
The possibility of Shiba Inu (SHIB) hitting $1 has triggered wild speculation, but a closer look at its market dynamics suggests otherwise. SHIB has a circulating supply of a staggering 589 trillion tokens.
For it to achieve a price of $1 per token, its market capitalization would need to be $589 trillion, far above the market capitalization of gold, which is around $19 trillion. The comparison indicates how unrealistic this kind of price target is.
Market capitalization is a key element in determining cryptocurrency prices. It is determined by multiplying the circulating supply and the prevailing price.
Large cap assets are slower-growing but more stable, and lower-cap assets are riskier but have greater potential for returns. Keeping these in mind, SHIB’s ability to reach even a fraction of a dollar is in doubt.
Despite its growing ecosystem, Shiba Inu remains a meme coin that’s heavily dictated by market sentiment rather than underlying value. While it has seen significant rallies in the past, they were largely fueled by hype rather than utility.
SHIB’s price movement still depends on overall market trends, investor speculation, and developments in its ecosystem, particularly Shibarium.
SHIB’s 620-Day Accumulation Breakout Faces Major Hurdle
Technically, Shiba Inu has shown signs of a protracted range-bound movement before breaking out. As evident on the weekly chart, SHIB spent approximately 620 days trading in a defined range before breaking out to the upside.
This breakout led to a price high of $0.00003279 before it met resistance and pulled back. SHIB has since been testing support levels at $0.00001296, which is a critical level in determining the direction of its next move.
A concerning technical pattern emerging in the price action of SHIB is the double-top pattern. The pattern most commonly suggests a potential bearish reversal, meaning a probable fall if key support levels are broken.
If SHIB goes below $0.00001296, the next target can be as low as $0.0000067, which represents a major downside risk for holders.
For investor entry points, the risk remains high, especially given the coin’s speculative nature. The majority of traders in the space play meme coins for short-term moves rather than long-term investments.
Shibarium Nears 1B Transactions, Signaling Strong Growth
Despite the challenges in price appreciation, Shiba Inu’s Layer-2 solution, Shibarium, is still making tremendous progress. The network is set to achieve a milestone as it approaches 1 billion total transactions.
Recent figures from ShibariumScan indicate that Shibarium has processed approximately 992 million transactions, with the number of daily transactions surging to 3.84 million.
This increase reflects greater use of the network, meaning that there are more developers and users interacting with the platform. The number of blocks created on Shibarium has also surpassed 10 million, while the total addresses stand at over 191 million.
Shibarium will play an even larger role in blockchain development going forward. It is planned to be transformed into a rollup hub where developers can deploy custom Layer-3 rollups directly on the network.
Shibarium: Expanding Into a Rollup Hub
Developers will be able to deploy custom Layer 3 rollups directly on Shibarium
— Shibarium Updates
(@Shibizens) March 29, 2025
This expansion will enable multiple chains to exist in parallel and utilize $BONE as the primary gas token. By building out its infrastructure, Shibarium is striving to be a base layer for on-chain activity, providing a scalable and interoperable environment for future decentralized applications.
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