The value of Shiba Inu, the second-largest meme coin behind Dogecoin, has been fluctuating a lot recently, much like many other coins in the crypto market. On the whole, it’s been performing well, gaining almost 30% in just the last month. Can Shiba Inu reach $1?

SHIB’s low price makes it a tempting choice for investors wanting to dip their toes into crypto without risking too much. If Shiba Inu (SHIB) keeps its community engaged, rolls out new projects, and stays flexible with market changes, it could see some nice growth. 

What does the future look like for SHIB? Will Shiba Inu coin reach $1?

SHIB: what drives its value?

SHIB’s value is largely driven by social media hype, celebrity support, and a passionate community. Because its price can soar or drop dramatically with the latest online trends, it’s a pretty speculative choice for anyone looking to invest.

The SHIB ecosystem has expanded to feature ShibaSwap, a decentralized exchange where you can trade and stake your tokens. On top of that, there are great plans for Shibarium, a layer-2 blockchain that’s all about speeding up transactions and lowering costs.

However, at its heart, Shiba Inu’s true value still lies in its meme identity and the passionate support from its community.

Will Shiba Inu coin reach $1?

Doubts exist regarding the potential for Shiba Inu to reach $1, primarily due to its massive circulating supply. Nevertheless, enthusiasts believe that with strategic token burns, ongoing ecosystem development, and increased adoption, this possibility — though unlikely — could become more feasible over time.

For Shiba Inu to achieve a price of $1, more than 99% of its current supply would need to be removed. Given the existing supply of 589 trillion tokens, reaching $1 would require a market capitalization of $589 trillion, a figure that is nearly impossible based on current market trends. While some investors are enthusiastic, there’s a concern among others that aiming for such high targets could create false hopes.

When will Shiba Inu reach 1 dollar: conditions for growth

As mentioned earlier, token burns are essential for SHIB to reach $1. This would require significantly reducing the supply through large-scale burns that far exceed what has been achieved so far. Even though community burn initiatives are advancing, achieving a $1 price would call for a substantial surge in burn activities.

Adding SHIB to major platforms, building key partnerships, and encouraging broader use as a payment method could all raise demand. Yet, even with these enhancements, it’s unlikely that SHIB’s price will reach $1 without a considerable decrease in supply.

By rolling out layer-2 solutions like Shibarium, transaction speeds could improve and costs could drop, enhancing SHIB’s attractiveness to users. Yet, despite these efforts being beneficial for SHIB’s growth, they won’t suffice to achieve the lofty goal of $1.

SHIB’s price: future outlook

Let’s take a look at the potential price outcome for SHIB over the coming years.

Will Shiba Inu coin reach $1 by 2025?

It seems unlikely. The possibility of SHIB reaching the $1 mark is both bold and quite uncertain. While there’s definitely room for growth, a lot of it is held back by the massive supply of the coin, its speculative nature, and the hurdles that come with getting extensive use and real-world utility.

Will Shiba Inu coin reach $1 in 10 years?

Only time will tell. For SHIB to hit $1, it would need a mix of significant supply reduction through large-scale token burns, meaningful advancements in utility, and broad market adoption.

In the end, SHIB’s future really hinges on how well it can adapt and innovate, tapping into the passion of its community to stay relevant and boost its visibility.

Launched back in April 2023, Pepe took only a short time to become one of the most popular meme coins in the world of crypto and one of the top ones alongside the likes of Doge, Shib, and others. At the time of writing, Pepe sits at the 30th rank among thousands of cryptocurrencies in terms of market capitalization. 

However, additional info is needed for any investor to make an informed buying or selling decision. Meme coins have different supply dynamics that include token burns, which can impact price trends and also the future of the meme coin.

In this article, we will discuss how many Pepe coins are there, the total Pepe token circulating supply, and what the future holds for this top-tier meme coin.

Pepe coin explained 

‘Pepe the Frog’ meme came to life with the birth of Pepe as this meme coin’s name is now taken in the same breath as the top-tier memes including DOGE, WIF, and SHIB.

While most cryptocurrency projects have a tangible use case that affects their price in the crypto world, Pepe, like other meme coins has not only survived but also become big due to a large social media influence, virality, and most importantly, a loyal fan base of token holders.

Since its launch, Pepe has seen an all-time high of 0.00001730 which is almost a 2600% pump. At the time of writing, Pepe is trading at 0.00001023 which is only 68% below its all-time high.

Total supply of Pepe coins 

At the start, the Pepe circulating supply was 420.69 trillion tokens, and no additional tokens were added to this supply after the token’s launch. This is great because a fixed supply means that price cannot be majorly impacted by the founding team by adding more tokens to the total supply of the Pepe. 

So the answer to how many Pepe coins are in circulation is the same as its fixed supply, i.e. 420.69 trillion coins. However, to further create demand, supply has to be reduced and for this purpose, the Pepe founding team often burns its token supply periodically. Last month on October 24, 2023, 6.9 trillion tokens were burned which led to a 20% rise in the Pepe token’s value.

Why Pepe’s supply matters to investors

In the current world we live in, a key metric on which we attract to everything is based on supply and demand. The lower the supply, the higher the demand for it. Since the Pepe team is not issuing any new tokens and also burning Pepe tokens periodically as explained above, it makes this whole process a deflationary mechanism which is attractive for investors.

A fixed supply of tokens creates scarcity which promotes demand, that also has a positive impact on price, considering all other important factors like market sentiments, trend, and constant development, remain in favor of the Pepe token. 

Comparing Pepe’s supply to other cryptocurrencies 

Meme coins require a strong community behind them to not only help them grow but also sustain for a long time in this volatile cryptocurrency market. While many meme coins do enjoy a good fan base in the crypto world, not many have the ideal set of token supply conditions for them to thrive long term.

Every meme coin has different supply dynamics and it is important to understand which one has better supply mechanisms as it plays an important part when deciding to invest in any meme coin project. 

Here we will compare Pepe’s token supply to two of the most popular meme coins, Doge and Shiba Inu.

PEPE vs. DOGE Supply

Dogecoin has a total supply of 146.38 billion tokens, however, unlike Pepe, it is not fixed, which means more Doge coins can be minted and added to the total supply of Dogecoin. This is an inflationary model, while Pepe has a deflationary model, which may indicate that Pepe coin’s demand can increase over time as compared to Dogecoin, provided all other market conditions remain the same. 

PEPE vs. SHIB Supply

Shiba Inu is another popular dog meme coin, but it has the largest supply when compared to Doge and Pepe, currently standing at 999.98 trillion tokens of which 589.26 trillion tokens are in circulation. The Shiba Inu team has a burn mechanism in place which is a similar strategy to the Pepe coin of burning tokens periodically to lower supply and increase demand among investors. 

While Shib’s total supply is fixed, it is more than double of Pepe’s fixed supply of 420.69 trillion which may prove to be a disadvantage in the long run, considering other market conditions also remain the same.

FAQs

Shiba Inu (SHIB) coin is a major contender for the meme coin throne, often referred to as as the ‘Dogecoin killer’ by its supporters.

As the coin continues to grow, more people are interested in the tokenomics of this project and find themselves wondering how many Shiba Inu coins are in circulation.

Understanding Shiba Inu coin (SHIB)

Shiba Inu was created in August 2020 by pseudonymous developers. Unlike tokens that live on a dedicated network, (SHIB) is an ER-C20 token that exists on the Ethereum blockchain. As such, it has access to DeFi and related services, giving it an advantage over similar meme coins with less utility.

This utility, coupled with an unusually high token supply, which we’ll discuss in the next section, has proven to be a distinguishing factor that has helped Shiba Inu stand out.

The ecosystem now includes projects like ShibaSwap (a decentralized exchange), NFTs, and the play-to-earn game Shiba Eternity.

With a dedicated community, the coin has exploded in popularity, becoming one of the top 20 cryptocurrencies by market cap now today.

Total supply of Shiba Inu coins

The Shiba Inu supply upon its 2020 launch was 1 quadrillion SHIB tokens, or one thousand trillion tokens. When SHIB was released, it had the largest token supply in the world. Unsurprisingly, the massive Shiba Inu circulating supply made news headlines and helped the project gain attention worldwide.

It’s worth noting that a large supply doesn’t necessarily impact the value or use case for the project, and many in the space viewed the supply as a gimmick. For new crypto users unfamiliar with tokenomics, it may have also seemed that SHIB tokens were ‘cheaper’ than other crypto tokens, and therefore more affordable.

Of course, the price of an individual crypto token shouldn’t be conflated with the worth of the actual crypto project itself! We’ll dig into how to understand the supply of a cryptocurrency in more detail later on, but first, let’s take a look at how many Shiba Inu coins are available today.

Current circulating supply of Shiba Inu

The SHIB crypto has not maintained its supply, and it currently stands at 589 trillion SHIB. Ethereum co-founder Vitalik Buterin sent 410 trillion tokens to a dead wallet in 2021, effectively destroying or ‘burning’ the tokens and stating he would donate the remainder to charity.