Can a Shiba get 1 cent?

Technically speaking, Shiba Inu could reach a penny if enough capital were to start investing in dog-themed cryptocurrencies . But since Shiba Inu would need trillions in capital to reach $0.01, institutions and governments would need to purchase SHIB, which seems highly unlikely.

Shiba Inu trades for such a small fraction of a penny because its supply is so large. There’s currently a supply of 549 trillion SHIB tokens in circulation, giving it a market cap of around $11 billion.

The maximum supply of Shiba Inu, fondly known as the ‘Dogecoin Killer’ by fanatics, is 589,735,030,408,323 SHIB, with a total of 549,063.28B SHIB in the circulating supply.

Shiba Inu (SHIB) is a dog-themed meme cryptocurrency named after a Japanese dog breed . It was created in 2020 by an anonymous developer named Ryoshi, who designed SHIB to be an alternative to Dogecoin (DOGE) on the Ethereum blockchain. SHIB is an ERC-20 token with a decentralized exchange called ShibaSwap.

The project represents the clearest indication that Shiba Inu has loftier ambitions than developing memecoins. ShibaSwap is designed to create a safe and user-friendly environment to trade cryptocurrencies in a fully decentralized manner .

People Also Ask: Other Questions About SHIBA INU (SHIB) SHIB started with a supply of 1 quadrillion, in which 50% was locked in Uniswap, while the other half was burned to Ethereum co-founder Vitalik Buterin. Currently, there are 497 trillion SHIB tokens (not coins) in circulation, with a total supply of 1 quadrillion .

The Shiba Inu coin is available on Binance and trades as SHIB.