* Our Parent Company Crypto Token is LIVE!!! *Flag Token

Can Shiba Inu Reach $1?

Date:

Share post:

The Shiba Inu ( SHIB 3.27% ) token has proved naysayers wrong more than a few times. The price of the meme cryptocurrency soared 49,000,000% in 2021, far outpacing anyone’s expectations. But could SHIB, which is priced at $0.00002193, put up similar gains in 2022 and reach $1? 

Not likely. 

To get there, the cryptocurrency would need to rise by roughly another 4,000,000% on top of what it’s already accomplished. That’s a feat that even the most wildly popular meme cryptocurrency would have a difficult time achieving.  

Image source: Getty Images.

Why SHIB hitting $1 isn’t likely 

One of the reasons some people speculate SHIB could hit $1 is that the cryptocurrency is gaining more traction as a form of payment. 

Indeed, online electronics retailer Newegg already accepts the coin, as do Tesla, GameStop, and AMC Entertainment

But Shiba Inu isn’t unique in its ability to be used as a form of payment. Even more importantly, other cryptos like Bitcoin are accepted by many more retailers, and Bitcoin is far more popular among consumers as a payment…

Read more…

Related articles

Revolutionizing Inter-Blockchain Communication – Benzinga

Revolutionizing Inter-Blockchain Communication  Benzinga Read more...

Hermès Wins Trademark Lawsuit Against MetaBirkins NFTs, Setting Powerful Precedent for NFT Creators

David Leichtman, Leichtman Law managing partner, told CoinDesk TV on Tuesday that the case wasn’t necessarily about Mason...

UK blockchain carbon offset platform raises $45M in seed funding

According to a press release published on Feb. 8, blockchain carbon credit transaction network Carbonplace has secured $45...

The war among blockchains should stop to speed up adoption – Cointelegraph

The war among blockchains should stop to speed up adoption  Cointelegraph Read more...