An interesting question was recently posed to Google Bard on when Shiba Inu’s (SHIB) price would hit $1. In response, the Artificial Intelligence (AI) chatbot provided a speculative timeline for when this could happen and factors that could influence a rise to this price level.
When SHIB Could Rise To $1 Google’s AI Bard predicts that SHIB could hit $1 in a decade or more as this is more within the realm of possibility, although it is not guaranteed. Meanwhile, the AI seemed less optimistic about the meme coin hitting this price level in the short term, as it says that it is highly improbable considering the massive price jump required.
Bard also predicts that SHIB’s price will rise significantly within the next few years, although it might not reach the $1 price level by then. This significant rise, it mentioned, is highly dependent on certain factors, which it did well to highlight.
The first factor it outlined is the overall crypto market sentiment. Broader market trends, like investors’ confidence in the crypto market, can help drive liquidity into the SHIB ecosystem and have a positive impact on its price. Increased adoption of the Shibarium network and more integration of dApps into the layer-2 network is another factor that could spark an increase in SHIB’s price.
Interestingly, Bard also alluded to Shiba Inu’s supply and burn mechanism. It noted that the ecosystem’s effort to reduce the number of SHIB tokens in circulation could potentially lead to a price increase over time.
SHIB price at $0.000008 | Source: SHIBUSD on Tradingview.com Shiba Inu May Never Even Rise To $0.01 According to the price prediction algorithm on the crypto analytics platform CoinCodex, SHIB’s price will never reach $0.01. The meme coin will need to gain over 112,000% to hit this price level, something which the algorithm considers impossible. Interestingly, it estimates that the highest price that SHIB will hit is $0.000630, and this will happen by Jan 1, 2050.
Shiba Inu’s burn tracker highlighted how the crypto token’s maximum circulating supply would need to be just over 85 billion if it is to have any hope of rising to $0.01. For that to happen, 86.74% of the meme coin’s circulating supply will need to be burned and removed from circulation.
For now, that seems almost impossible, considering that crypto YouTuber Jeff once revealed that it would take about 1,157,174 years for SHIB’s entire supply to reduce to 100 billion tokens.
At the time of writing, SHIB is trading at around $0.000008931, up over 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Crypto News Flash, chart from Tradingview.com
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Scott Matherson Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.