If you are active in crypto world, you must have heard about Shiba Inu coin. The coin saw huge pump in the month of October 2021. A lot of people were able to get 5 times of their invested amount in few days during this month. Now most of the current Shiba Inu holders or those who want to buy it now are thinking if the price of the coin will increase in future or not. This post explains in detail regarding if Shiba Inu price can reach INR 1 or not. We have also explained the reasons supporting the possible price gains and arguments against it.
Reasons why Shiba Inu can reach INR 1
Here are the following reasons we believe that Shiba Inu can reach INR 1
- There is lot of hype around Shiba Inu coin. No other alt coin had been able to create so much hype in just one year.
- There are a lot of celebrities supporting Shiba Inu coin. This means that the followers of those celebrities will also invest in Shiba Inu thus pumping the price further.
- The investors in Shiba Inu are very loyal investors. Many of the Shiba Inu holders are even holding now when the prices are up by 1000% or more.
- Shiba inu has limited number of coins. On the other hand, coins like dogecoin have unlimited supply of coins.
- Shiba Inu team is also doing a lot of burns. This means that the number of Shiba inu coins will decrease with time. This will further increase the demand of Shiba inu coins and thus increase the price.
- Shiba inu is also getting listed on a number of exchnages. It got listed on binance in very less time. A lot of Indian exchanges like WazirX and Zebpay have also listed it.
Reasons why Shiba Inu coin cannot reach INR 1
There are some arguments against Shiba inu reaching INR 1 as well like
- Shiba inu is a meme coin. This means that it has no real purpose. It is hard to attract a lot of investors if there is no use case or purpose of coin.
- There are already a lot of new alt coins coming and we can see a new coin replacing Shiba Inu soon.
- The total supply of the coin is also quite a lot. If the Shiba inu coin reaches the price of INR 1, the total market cap of Shiba inu will be 5 times the current total crypto market cap. Now this is still possible, but it will take a lot of time to happen.
Final Verdict about Shiba inu price predictio
Based on the above points, if we consider the overall scenario, the chances of Shiba inu reaching INR 1 is very high. If you have not yet invested in Shiba Inu coin, you can register on Wazir X crypto exchange in India and start investing in Shiba inu and other crypto coins.