Shiba

Cryptocurrency

Shiba Inu

<ul class="wp-block-list">
 <li>Altcoin Daily founder Aaron Arnold dismisses possibility of Shiba Inu reaching $0.01 in 2024.</li>
 <li>Arnold emphasizes importance of market cap considerations in price predictions.</li>
 <li>SHIB at $0.01 would require 54,100% growth, resulting in $5.895 trillion market cap.</li>
</ul>
<p>Cryptocurrency analyst Aaron Arnold, founder of Altcoin Daily, has sparked debate in the crypto community by challenging the notion that <a href="https://thenewscrypto.com/?s=shiba+inu" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu</a> (SHIB) could reach $0.01 as early as next year.</p>
<p>Arnold’s recent statements on social media platform X highlight the critical importance of understanding market capitalization when making price predictions, particularly for newcomers to the cryptocurrency space.</p>
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   <p lang="en" dir="ltr">I heard someone talking about they bought SHIB because if it only goes to 1c next year then they will be a millionaire.<br><br>This is literally not possible with SHIB's current market cap.<br><br>Learn how to value coins in market cap vs price.</p>— Altcoin Daily (@AltcoinDailyio) <a href="https://twitter.com/AltcoinDailyio/status/1843006967864029642?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 6, 2024</a>
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<p>Arnold’s critique targets a common misconception among crypto enthusiasts: the belief that <a href="https://thenewscrypto.com/?s=SHIB" target="_blank" rel="noopener noreferrer nofollow">SHIB </a>could achieve a penny valuation in the near term, potentially turning modest investments into millions. This perspective, while appealing, fails to account for the enormous market cap implications of such a price point.</p>
<h2 class="wp-block-heading" id="h-shiba-inu-shows-modest-surge">Shiba Inu shows modest surge</h2>
<p>Currently, SHIB trades at $0.0000183 with a circulating supply of approximately 589.5 trillion tokens. A simple calculation reveals that at $0.01, Shiba Inu’s market capitalization would skyrocket to an astounding $5.895 trillion.</p>
<p>This figure represents a 541-fold increase from its current $10.876 billion valuation, requiring a staggering 54,100% price appreciation.</p>
<p>To put this growth in context, even during the last post-halving bull run, SHIB’s remarkable 884,400% rally only pushed its market cap to around $45 billion at its peak in October 2021.</p>
<p>Arnold argues that expecting similar exponential growth from SHIB’s current multi-billion-dollar valuation is unrealistic within a one-year timeframe.</p>
<p>Contrasting views exist within the crypto community, with some prominent figures like Bitcoin author Jason Williams suggesting SHIB could reach $0.05 by next year.&nbsp;&nbsp;</p>

Shiba Inu’s $0.01 Dream: Analyst Dismisses The Possibility

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