Shiba mining

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 .