Shiba Inu (SHIB), the memecoin dubbed the Dogecoin Killer, has gained massive popularity since 2021. Its price reached significant levels, which allowed many investors to become billionaires.

The memecoin Shiba Inu (SHIB), also known as the Dogecoin Killer, has gained massive popularity since 2021. Many investors expect SHIB to make significant profits, while others wonder whether it will reach 1 US dollar.

In 2021, SHIB made gains of over 43,000,000%, which allowed many investors to become billionaires. Since then, the project has increased adoption and interest among the crypto community. SHIB even joined the top 10 cryptocurrencies in the market.

The launch of SHIB occurred in 2020 when it reached its all-time low of USD 0.000000000056366. In October 2021, a few months later, it hit its current all-time high of USD 0.00008616.

Shiba Inu is trading at around USD 0.00001155 and has accumulated a 5.3% loss over the last 24 hours. Its daily trading volume is above USD 382.55 million, while its market capitalization is about USD 6.82 billion, according to CoinGecko.

The Price of SHIB Might Reach USD 1

Although SHIB made substantial profits in 2021, investors still wonder whether the price might reach USD 1.

For that to happen, it is necessary to consider data like the current total supply of 589.6 billion SHIB tokens. If the price reached USD 1 with this supply, its market capitalization should be above USD 589.6 billion.

It would become the most valuable asset worldwide, exceeding Apple by about 235x. It is relevant to remember that the latter is the company with the highest market capitalization, according to MarketCap.

As mentioned above, SHIB is trading at around USD 0.00001155, while its market capitalization is about USD 7.3 billion. Based on that information and a projected price of USD 1, the supply of the memecoin should be USD 7.3 billion.

Considering that hypothesis, Shiba Inu should reduce its supply by more than 99%. In that regard, the burning of tokens aims to reduce the circulating supply of the memecoin.

There has been a burning of 12.6 million SHIB tokens over the last 24 hours, according to data from ShibBurn. That would give a figure of about 4.59 billion tokens burned every year.

Holders Should Wait for 128 Thousand Years for SHIB to Reach USD 1

The number of tokens and the burn rate would determine how many years Shiba Inu investors would have to wait. The current data indicate they would need almost 128 thousand years for the memecoin to reach USD 1.

Many factors, such as the SHIB burn rate timing, would also influence that. However, the little encouraging forecast might cause investors to think that they cannot wait for so long.

Cryptocurrencies play a crucial role in the world economy, of which SHIB has become a part. Other relevant memecoins are Dogecoin (DOGE), Dogelon Mars (ELON), Samoyedcoin (SAMO), and MonaCoin (MONA).

By Alexander Salazar

The biggest fall in virtual currencies and external events leaves an analysis of the coming months.

It’s been a rough few weeks for cryptocurrencies. Days in which Warren Buffet fans have enjoyed watching investors’ money disappear from the beginning of May, when Bitcoin was trading at 37,000 euros, until June 18, when it bottomed out at 18,000 euros.

The fever of investing in digital currencies such as Bitcoin or Ethereum has suffered a major correction these weeks and has forced investors to recompose their portfolios and their ideas. They have learned how this currency works, that it has no network in the face of the crisis, and what external factors affect it. Something like the dollar and gold, which always fluctuate against each other.

Tesla

The last corrective movement has been that of Tesla. Elon Musk is a fan of the crypto world, but it has been known that the company sold 75% of the investment in Bitcoin. At the time he bought 1,500 million dollars and now he only has 218.

Although the movement may affect the price, people will have to read beyond the operation to understand how Musk has limited his investment in view of the extremely high volatility of these digital currencies.

The tough weeks have also cost businesses like Celsius, Three Arrows, and Voyager, which have gone bankrupt. Their numbers have prevented customers from withdrawing their money while they stabilize or liquidate their business. Another rectification that causes other companies in this sector to protect themselves thanks to lifelong entities.

Bank of Spain

The Bank of Spain has recognized the Bit2Me platform and will soon do so with others such as Coinbase or Binance, this is limited to advertising control, but the CNMV will have to monitor them closely.

Electronic wallets, rental benefits or currency exchange are also beginning to be regulated. It is true that many regulations are made in order to prevent money laundering and the financing of terrorism, but it is another step to give investors some security.

Fall of Luna

Europe is trying to launch a digital currency, a guaranteed currency that will never lose all its value as happened with Luna in the middle of the May 2022 crisis, although it is now trading at 1.80 euros.

The economic maturity of this currency has suffered a hard time in its learning curve. The markets begin to know that inflation, instabilities, wars, and other factors also take it to the abyss or put it at the top.

Experts still feel uncertain about the future. The cryptocurrency market is extremely unstable, as it is only speculative. It is possible that the next crypto winter will take away some virtual currencies forever.

By Audy Castaneda

 Ethereum changed from PoW to PoS on September 19. ETC was going through a hostile market on July 16, and on July 19, it started experiencing slight rebounds.

With ETC and ETH approaching high peaks for ten months, Ethereum Classic finally exceeded Ethereum’s native item Ether (ETH) throughout the latest crypto market recovery.

After striking a low rate registered at $13.35, ETC’s price approached a rate of $27 on July 22, representing a 100% profit in nine days. When expressed in US dollars, the ETH moved up to 64%. The ETC currently trades at $26.47, while ETH has crumbled to at least $9 at the time of writing.

Ethereum Merge

Ethereum will suffer a merge on September 19. Ethereum’s Proof-of-Work to Proof-of-Stake network impacts the highs and lows of Ethereum and favors the price of Ethereum Classic.

On the other hand, stakes will take the position of miners. Because of this decision, the PoS move may oblige current Ethereum miners to employ PoW networks. Thus, investors believe Ethereum Classic will become the first alternative for miners once they switch from Ethereum, which is probably one of the most prominent factors behind ETC’s recent price increase.

Ethereum Classic Rebounded

The 89.68 percent perseverance registered on July 16 caused the alternative to increase, approaching its two-month high peak on July 19. This increase in the purchasing rate forced the bulls to close above both the short-term and long-term Exponential Moving Average (EMAs.).

The ETC recently went through a rude market; it has also increased its size to $25, giving it a solid opportunity to lurk in an optimistic market.

If ETC keeps getting away from the 38.2 percent support, it might make some progress before leveling off near the Proof of Capacity (POC). The amounts linked to profits would be the same as the previous ones. The alt would probably go through moderate volatility before exploding.

Finally, the general market status and improvements on the blockchain would be vital aspects. These aspects would be the main engine to achieving future goals.

Ethereum Classic is a digital asset with its origins based on the Ethereum fork executed on July 20, 2016. The Ethereum (ETH) community intended to restore the funds extracted when the exploit in the DAO code got discovered.

A part of the community had shown disagreement with such a disadvantage, and eventually, the ETCDEV team got founded, so the story of the blockchain named Ethereum Classic began.

Ethereum Classic coin has been tied to controversy because it does not receive support from the Ethereum Foundation but has some relevant approval within the crypto environment as it stands for the universal policy within the Crypto universe: You’re your bank.

While Ethereum Classic brings smart contracts the same way that the Ethereum network does, it has struggled to acquire the same fame as Ethereum. It still lacks some fundamental things that have obstructed its long-term evolution. Some aspects include insight, backup, and the extensive developer support standard Ethereum enjoys.

Many developers lost their faith in the platform after various attacks. Many experts have concluded that Ethereum Classic requires adopting the proof-of-stake consensus procedure to scale the transaction limit.

By: Jenson Nuñez