**The Path to a $1 Value for Shiba Inu: A Community Challenge**
For Shiba Inu to achieve its ambitious goal of reaching a one-dollar value and a $500 billion market cap, the community would need to burn an astonishing 99% of the SHIB supply. Despite the ongoing market downturn that has posed challenges for Shiba Inu, many market participants remain optimistic about its potential for recovery. Analysts like Javon Marks have set mid-term rebound targets around $0.0001553, while supporters are eyeing even more ambitious long-term goals of $0.001 and $0.01. Amidst the skepticism surrounding these projections, conversations about Shiba Inu’s potential to hit the lofty $1 mark continue to capture attention.
**Shiba Inu’s $1 Prospects**
Last August, the prominent crypto exchange CoinW sparked discussions by suggesting that SHIB could indeed reach the $1 target, prompting the community to ponder whether Dogecoin or Shiba Inu would be the first to achieve this coveted milestone. Currently, Dogecoin trades at approximately $0.2756, putting it much closer to the $1 mark than Shiba Inu, which is valued at $0.00001667 as of the latest update. This significant difference has led many to dismiss the idea of a rally to $1 for SHIB. A key factor contributing to this skepticism is SHIB’s current circulating supply, which stands at a staggering 589 trillion tokens. At this supply level, a $1 price for Shiba Inu would imply a market cap of $589 trillion—an amount that simply exceeds the total money available in the world. Therefore, for Shiba Inu to even entertain the possibility of reaching $1, it would require an extensive burn process, surpassing even the significant burns executed by Ethereum founder Vitalik Buterin in May 2021.
**How Much Shiba Inu Supply to Burn for SHIB to Hit $1 at $500B Market Cap**
Even with considerable burns, Shiba Inu’s market cap would need to rise above current levels to support a $1 price. Interestingly, lead developer Shytoshi Kusama recently suggested that this dog-themed meme coin could potentially reach a $1 trillion market cap in the future. In light of this, we examined how much SHIB the community would need to burn to elevate Shiba Inu’s price to $1, based on half of Kusama’s $1 trillion market cap projection. At a $500 billion market cap, Shiba Inu could reach $1 if its circulating supply were reduced to just 500 billion tokens. Given that the current circulating supply is 589 trillion, the community would need to burn 588.5 trillion tokens—an astonishing 99.91% of the circulating supply—for Shiba Inu to hit the $1 target at a $500 billion market cap. However, such a massive burn seems highly unlikely, making the prospect of SHIB reaching $1 extremely slim.
