Shiba Inu ventures into a new realm of innovation and exploration as it emerges as one of the pioneering entities to trial the DN404 standard. This novel hybrid token standard aims to amalgamate the most favorable attributes of both fungible and non-fungible tokens (NFTs). Reflecting on its initial purpose, Shiba Inu expresses its enthusiasm as it embarks on the experimental testing phase of the DN404 standards.
“Years ago, ShibToken marked the beginning of an adventure, pushing us beyond the boundaries of decentralization,” it said in a tweet.
According to Shiba Inu, this momentous DN404 experiment heralds a daring move into the future. At $0.000009831, Shiba Inu is attempting to remove its fifth zero from the charts. Approximately 1.3 million token holders exist globally, with the bulk having taken an entry position in late 2021 and 2022. Since then, only a small percentage of investors have made money with SHIB, with over 60% of them sitting on losses. Investors who want to see Shiba Inu reach $0.01 and $1 are having their patience tested by the current unfavorable price situation.
Shiba Inu Price Prognosis
The main constraint is the amount of SHIB that is currently in circulation; if the meme coin hits the $0.50 barrier, its market valuation would approach $294.5 trillion. It’s crucial to recognize that this circumstance can change significantly in the future. There is an argument that the increasing use of the Shibarium Layer 2 network, which burns SHIB tokens with every transaction, could result in a significant increase in the amount of SHIB in circulation. This is what CoinCodex’s long-term price projection indicates.
According to prominent on-chain metrics and price prediction company CoinCodex, a high of $0.000401 is predicted for Shiba Inu in 2050. The long-term 2050 price forecast states that SHIB will only be able to remove two zeros between now and 2050. Furthermore, that would represent an increase in return on investment (ROI) of around 4,000% from now through the following 26 years. SHIB’s long-term 2050 price prognosis does not indicate that it will reach $0.50. Estimates suggest that SHIB may not even hit the $0.01 milestone in the next 25 years, much less 50 Cents.
In conclusion, there is not much data to support the theory that Shiba Inu’s price will drop to 50 cents based only on burn rate. However, SHIB’s potential as an investment vehicle may potentially be strengthened by the SHIB burn. It seems improbable that Shiba Inu would achieve its long-term objective of 50 cents by 2050. According to estimates, SHIB will not reach $0.50 in 2050, but rather $0.000401.