Will SHIB Ever Hit $1? Veteran Trader Gives Final Answer, Points To An AI Token For Better Gains

A veteran trader has shared a technical analysis of Shiba Inu (SHIB) detailing why the second-largest meme coin might never hit the $1.

A veteran trader has shared his final thoughts on whether Shiba Inu (SHIB) will ever hit $1. The trader believes that the meme coin’s massive circulating supply and other factors make it unlikely to reach this target. However, he points to an emerging AI token, WallitIQ (WLTQ), for better gains.

According to the trader, Shiba Inu (SHIB) is unlikely to reach $1 due to its large circulating supply of 589 trillion tokens. If SHIB’s price were to rise to $1, its market capitalization would have to reach over $589 trillion.

“For those wondering, if SHIB were to reach $1 today, its market cap would have to be over $589 trillion. Let that sink in. It’s currently #1 with a market cap of $396B. Good luck with that,” the trader stated.

The trader adds that even with Shibarium’s token-burning mechanism, he still finds it hard to believe that SHIB will ever hit $1. However, he does note that anything is possible in the crypto market.

“I suppose if they burn a crazy amount of tokens then maybe (still highly unlikely), but good luck convincing the SHIB army to burn their precious tokens. At the same time, in crypto, never say never I guess.”

Meanwhile, the veteran trader has endorsed the AI token WallitIQ (WLTQ), urging investors to join its ongoing presale today.

With the bull cycle raging on, the veteran trader’s scathing assessment of Shiba Inu (SHIB) clears the path for an emerging $0.042 AI token, WallitIQ (WLTQ). The WLTQ token is currently generating significant buzz, sparking widespread excitement among investors as its presale soars. As a result, the veteran trader urges investors to join WallitIQ’s ongoing presale today so as not to miss out on its projected gains.

Shiba Inu (SHIB) has been a hot topic among crypto enthusiasts in 2023. The meme coin, which enjoyed explosive gains last year, has seen its price plummet over 75% from its all-time high in 2021. Despite the decline, SHIB’s massive community and token-burning efforts have kept hopes alive for a potential recovery.

However, a veteran trader has now expressed skepticism about Shiba Inu (SHIB) ever hitting $1. The trader cites the meme coin’s large circulating supply and other factors as barriers to achieving this target.

The trader begins by highlighting Shiba Inu’s (SHIB) massive circulating supply of 589 trillion tokens. According to the trader, this supply is simply too large for SHIB to ever reach $1.

“Shiba Inu’s circulating supply is 589 trillion tokens. If SHIB were to reach $1 today, its market cap would have to be over $589 trillion. Let that sink in. It’s currently #1 with a market cap of $396B. Good luck with that.”

The trader adds that even with Shibarium’s token-burning mechanism, he still finds it hard to believe that SHIB will ever hit $1. However, he does note that anything is possible in the crypto market.

“I suppose if they burn a crazy amount of tokens then maybe (still highly unlikely), but good luck convincing the SHIB army to burn their precious tokens. At the same time, in crypto, never say never I guess.”

Shiba Inu’s (SHIB) price today is $0.000012, which is a long way off from $1. The meme coin would need to increase in value by over 75,000 times to reach this target.

While some may still believe that SHIB can hit $1, the trader’s analysis provides a sobering perspective on the challenges involved. With a market capitalization of over $589 trillion required to hit $1, SHIB would become the number one coin, surpassing Bitcoin (BTC) and all other cryptocurrencies combined.

Ultimately, whether Shiba Inu (SHIB) ever hits $1 remains to be seen. The meme coin has surprised many with its resilience and community support, but its massive circulating supply and other factors could make it difficult to achieve this target.