It would be extremely difficult for Shiba Inu to reach 1 cent. Even during SHIB’s all-time high in October 2021, when the token was trading at $0.0000881, SHIB would have needed to increase in price by 113x to hit a price of $0.01.
While SHIB has seen massive price increases in the past, the chance of hitting large multiples becomes smaller as the market cap of the asset grows. For example, it would not be so outlandish to say that a cryptocurrency with a market cap of $10 million could potentially increase 100x in price over a long enough time period.
At its all-time high, SHIB had a market capitalization of $43 billion. At that kind of size, even a 2x price increase would have required a massive amount of capital to flow into SHIB. Achieving a 113x multiple from a $43 billion market cap asset would be next to impossible.
Read more: Facebook Settlement: Pay Out Date and How to Check Status
For more context on why it’s so unlikely anything could boost SHIB to a penny, let’s take the example of Bitcoin. At its absolute peak, BTC had a market capitalization of $1.27 trillion. If SHIB were to reach $0.01, it would have a market capitalization of approximately $5.89 trillion, which would be 4.6x larger than Bitcoin at its very peak.
At the time of writing, Apple is the world’s most valuable company, with a market capitalization of about $3.02 trillion. Microsoft is in second place with a market cap of $2.76 trillion. At a price of $0.01, SHIB would have a larger market capitalization than the two largest companies in the world combined.
Read more: What is ebay 3pl System? Explained
