Can Shiba Inu (SHIB) reach $ 0.001?

Shiba Inu has risen more than 30% during the day and over 100% in the last 7 days, reaching a new all-time high of $ 0.0000593.

Recently, the coin has received a lot of attention worldwide, leading among the most current topics in the United States on Twitter, which may be the reason for the price to rise.

The rise, which technically began on October 4th, continued uninterrupted, despite several setbacks. Last week, Elon Musk poured cold water on the price of the asset, saying that does not hold any SHIB coins, which led to a sharp drop in price.

However, Elon’s comments only seemed to inflame the community, as more investors seemed accustomed to his theatricality.

Even with its outrageous earnings since the beginning of the year, Shiba Inu it is still two decimal places from reaching $ 0.001 and four from entering Dogecoin’s price range.

However, experts are skeptical that altcoin will ever reach $ 0.01 or even $ 0.001 given the absurd number of tokens available.

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SHIB currently has a circulating supply of 394,769,000,000,000 out of a total supply of 1,000,000,000,000,000,000. To put this in perspective, for the token to reach $ 0.01 for only half of the total supply, that would make it half a quadrillion ($ 500 trillion), which is more than the total net worth of the world, which amounts to $ 431 trillion.

According to Alex Brachkovski, despite the noise around SHIB, to imagine a price of $ 0.01 or even $ 0.001 is insane.

“The dream of $ 0.01 or $ 0.001 for SHIB is mathematically impossible. There can’t be that many tokens at this price. This would mean market capitalization of the entire crypto market several times[, вложена в SHIB].”

Aaron and Austin, hosts of the Altcoin Daily, also said the coin would not reach $ 1.

$ SHIB will NEVER get to $1.00.

— Altcoin Daily (@AltcoinDailyio) October 26, 2021