- Shiba Inu (SHIB) reaching $1 is unrealistic due to its massive 589 trillion token supply, which would require an impossible $589 trillion market cap.
- Analysts suggest selling if SHIB drops below $0.00001296, with a potential decline to $0.0000067 if bearish trends continue.
ShibaInu (SHIB) has been making waves in the crypto space, but can it ever hit $1? While some investors remain hopeful, experts believe this target is far from realistic.
ShibaInu Faces Resistance Despite Recovery
SHIB is consolidating around $0.000016 after bouncing back from a yearly low of $0.00001160 on February 3. Despite this recovery, it struggles to reclaim its 2024 peak of $0.000045. Bearish sentiments continue to dominate, but that hasn’t stopped some from dreaming big.
CoinW recently fueled optimism with projections suggesting SHIB could eventually reach $1. However, a new analysis from Trade City Pro pours cold water on that idea.
The Market Cap Reality Check
Trade City Pro’s analysis focuses on SHIB’s massive token supply—currently 589 trillion tokens. For SHIB to hit $1, its market cap would skyrocket to $589 trillion. To put this in perspective:
- The total market cap of gold is around $19 trillion.
- The entire crypto market is about $3 trillion.
Clearly, reaching a $589 trillion market cap is unrealistic. Even The Motley Fool echoes this sentiment, suggesting SHIB hitting $1 is virtually impossible.
ShibaInu Faces Bearish Pressure with Potential Double-Top Formation
Looking at SHIB’s weekly chart, the token spent 620 days stuck in a range, with resistance at $0.00001171. It broke out, climbing to $0.00003279 last year before facing rejection. Since then, SHIB retraced to $0.00001296 and made an attempt to rise again in December 2024, but strong resistance held it back.
This price movement has formed what could be a double-top pattern—a bearish sign indicating a potential trend reversal. The analyst notes that unless SHIB breaks below $0.00001296, the double-top isn’t confirmed. If it does, ShibaInu could plunge further, potentially targeting $0.0000067.
Expert’s Trading Strategy
Interestingly, the analyst admits he would never invest in SHIB, preferring low-market-cap altcoins for speculation. For those holding SHIB, he advises selling if the price drops below $0.00001296. However, if the market sentiment shifts to bullish, re-entry could be considered.
While the dream of ShibaInu hitting $1 is exciting, the numbers don’t lie. Massive token supply, unrealistic market cap projections, and bearish technical patterns suggest this target is out of reach. For now, SHIB’s future depends on market trends and investor sentiment—just don’t expect $1 anytime soon.
