 Will Shiba Inu reach one cent? I've seen a lot of followers in the community as well as friends and even family aping into Shiba Inu saying that if it reaches one penny, they will be rich. Although that may be true, is it actually possible? Today we will dive into Shiba Inu and see if it is actually realistic for it to reach one penny, one cent, and make all of us millionaires. You guys don't want to miss today's video. Hey, what's up? Jay here and welcome to Bitcoin Daily, bringing you guys the best tips, tutorials and ideas to help you guys become profitable and successful investors. The goal of this channel is to empower the community with the knowledge and resources to get your wealth up to the next level. So if you guys enjoy this video, make sure to smash the like button if you're new to the channel. Don't forget to subscribe and turn on notifications if you have any questions about anything covered, of course, drop it in the comments. So if you've been on Instagram, Facebook, Twitter, around friends or anyone else that talks about cryptocurrency, you've probably heard of Shiba Inu. You've probably heard of Doge. These are all what we call meme coins. So as many of you guys probably know, and of course, if you got in anywhere down here, you guys made stupid money. So ever since then, Doge has pretty much been boring, right? It's not exciting. People like exciting stuff that could potentially make them rich over a one month period or less. So everyone's been looking for that next coin that could copy Doge's trajectory. And Shiba Inu has been that next coin that everybody and their mother has been investing in and jumping into. You guys could see that if you bought in anywhere here, you guys would have made approximately twelve hundred and seventy four thousand percent return on your money in the span of, let's see, the end of September till the end of October. In exactly one month, you would have done over twelve hundred percent return on your money. So everyone's been going crazy about this coin, asking me every single day about this coin, right? And one of the main questions that I get is, will it reach one penny, one cent? Because if it will reach one cent, then buying anywhere here will probably make you a millionaire if it hits one cent. But then the question becomes, what will it take to for it to hit one cent and is it possible? So that's when we go into this website called The Coin Perspective. Basically, you can input any coin here that you like. And it compares it to all the other coins in the market if it had their same market cap where the price would be. So if we go into Shiba Inu and we compare it to Bitcoin, you'll see that it says here, if Shiba Inu had Bitcoin's market cap of $1.1 trillion, one Shiba would be worth 0.0021, which is an upside of around 41 times, right? So let's put that into perspective. That's still not even a cent, right? If Shiba Inu had the exact same market cap as Bitcoin, it still would not be at one cent. The reason why is due to how much circulating supply is in the market. So what happens with meme coins is that they put out a ton of supply out on the market to purposely make the price look extremely cheap. If you don't understand market cap, then you just see the price and you think, wow, this could, you know, why why can't it hit one penny or one cent if Doge date or if Bitcoin is up this much? You know, just one cent, right? What's one cent? Well, with its current supply, as you can see here, even if Shiba Inu had the exact market cap as Bitcoin, it would still not even be at one cent. So let's go on to the next one. So we can see here that Shiba Inu's market cap is currently set around 27 and a half billion dollars. It's in the 11th spot here, actually behind Dogecoin. So even at Dogecoin's market cap, its current market cap, you'll see that the price is still not even close to one penny because Shiba Inu's market cap circulating supply is way bigger than Doge. So let's say we go up to Polkadot's supply. Even then, again, it's only a 61% upside at that point. If it overtook XRP, that's an 81% rise from where it currently is. If it overtook Cardano, that's only 124% up. Let's just go all the way to the top. If it overtook Ethereum, that's a 18 times move up potential upside from its current price, still not getting to one cent. So where does the market cap have to reach in order for it to get to one cent? So the answer to that question is that the market cap would have to reach 5.5 trillion dollars. So how likely is it for Shiba Inu's market cap to reach that price? Well, to put it into perspective right now, the entire crypto market cap is at 2.64 trillion dollars, right? It's taken 11 years for the entire crypto market cap to reach 2.64 trillion. Bitcoin alone is only at 1.1 trillion. So Shiba Inu's market cap would have to not only five times, five X, right? Bitcoin's market cap, but it would have to double, over double the entire crypto market cap. So to answer the question of can it do it, will it hit one cent? No, it's not possible. Currently, the way that the circulating supply is set up, if it came a time when Shiba Inu began to maybe burn tokens, burn their supply, making it more scarce, then the supply wouldn't have to be 5.5 trillion to reach one cent at that point. Right? Let's say that, you know, they cut their supply in half maybe. Even if they burned half their supply right now, it will still need to reach 2.5 trillion, which is still the entire crypto market cap. So let's say that they went, they cut that one in half, right? So now we're at one fourth of the current price. Even at that point, Shiba would need to reach 1.3 trillion, which is still higher than Bitcoin's entire market cap. So if we cut that in half yet again, now it's getting into the numbers where it's a little bit more realistic, but still, Shiba Inu would have to surpass. This is beyond 621 billion, is more than Ethereum's current market cap and is a meme coin going to pass Ethereum? I don't think so. So we'd have to cut this in half again. Now this would give us a 317 billion dollars market cap in order to reach one penny, which I mean, it's still very difficult for that to happen, but at that point, it would be number three here on the market cap after Ethereum. So I guess a little bit more realistic, but even then it's a bit far fetched. We'd have to probably cut it one more time. One hundred and thirty nine billion dollars still puts it at number three here. Very difficult, but at least that's more doable. So we had to basically cut it in half about six times just to get at a number that's a little bit more realistic for it to get to. Is Shiba Inu going to burn, you know, that much of its coins in order to get the market cap down low enough so that it's realistically possible for it to obtain the market cap to get to one cent? I don't think that's going to happen at least not any time soon. But hey, if you don't mind holding for the next five to ten years, which is basically what it took for Doge to reach that point, it's a possibility, right? In ten years, if this coin is still around, yeah, with the entire market cap growing, it is definitely possible for Shiba Inu to reach that point of one cent. But right now it is just not realistic. In the next five years, it's still very tough for it to happen. In ten years, if it's still around, sure, that could definitely happen. But I just can't see a scenario right now unless they burn a majority of their supply for Shiba to reach one cent. I hope you guys have enjoyed this video. If you did, make sure to smash the like button on it. If you guys are new to the channel, don't forget to subscribe, turn on notifications. And if you have any questions about anything that we covered in today's video, drop it in the comments. I'll see you guys on the next one. As always, peace and love.