Can Shiba Inu Reach $1?
Even though Shiba Inu (CRYPTO: SHIB) is down nearly 92% from an all-time high in October 2021, investors are still holding out hope that this popular meme coin will have one more explosive rally.
Certainly, Shiba Inu does have a very passionate community of supporters and investors. But does Shiba Inu, which recently traded at just $0.000007482, have enough explosive upside to make the move to the $1 mark? There are two important factors to consider.
The first factor to keep in mind is Shiba Inu's circulating coin supply, which is currently 589 trillion. This is a massive number, and the biggest reason why Shiba Inu is still trading at such a low price. Dividing any market cap number -- no matter how big -- by an unfathomably large number like 589 trillion will always give you a very, very small number. It's just simple mathematics.
Source Fool.com
