The idea of Shiba Inu (SHIB) reaching a valuation of $1 before 2025 may sound exciting, but it’s likely a long shot.
Although the token has gained popularity due to its meme status and the passionate community that supports it, the mathematical and market realities tell a different story.
Meanwhile, new projects like Pluto Chain ($PLUTO)with its real usefulness and advanced blockchain solutions, could be worth a look.
Let’s take a look at the details.
Can Shiba Inu dominate the crypto market in 2025?
Shiba Inu (SHIB) has been gaining traction recently, thanks to the broader crypto market uptrend.
Analysts point to a bullish chart trend that could push SHIB price up to around $0.000037.
What is also interesting is the rise in whale trading as well as the SHIB burn rate, which jumped by over 200%.
While this is a step in the right direction, there is still a long way to go for SHIB to reach the kind of price point people are talking about.
The biggest obstacle for SHIB to reach a price of $1 is its huge supply. With approximately 589 trillion tokens in circulation, reaching a valuation of $1 would require a market cap of $589 trillion.
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To put this into perspective, the global gross domestic product (GDP) is estimated to be around $94 trillion.
Therefore, for SHIB to reach $1, its market capitalization would have to exceed the combined economic output of the entire world several times, which is a highly unrealistic scenario.
Yes, there are efforts to further reduce SHIB supply by burning tokens, and the community is doing its part.
But so far, the fires simply aren’t enough to have a significant impact on overall supply.
Even at an aggressive consumption rate, reducing supply to a level where $1 becomes realistic would take decades, if not longer.
As of November 21, 2024, Shiba Inu (SHIB) was trading at approximately $0.00002453 per token, according to CoinGecko. This represents an increase of 2.0% over the last 24 hours.
One of the biggest challenges for SHIB is that beyond speculative trading, it currently lacks substantial real-world utility.
Unlike some cryptocurrencies that offer unique functionality or serve specific purposes within blockchain ecosystems, SHIB’s value proposition is primarily driven by market sentiment and speculative interest.
Without the development of tangible use cases or integration into broader financial systems, it becomes difficult to sustain long-term value growth.
PlutoChain ($PLUTO): redefining the role of Bitcoin in DeFi
Bitcoin is the industry benchmark, but it has minimal influence on decentralized finance (DeFi).
Pluto Chain ($PLUTO) is a project that could change that by connecting the renowned security of Bitcoin with modern innovations in DeFi, NFT, AI and Metaverse.
PlutoChain is a hybrid Layer 2 solution designed to potentially enhance the capabilities of Bitcoin.
What makes PlutoChain unique?
PlutoChain is gaining attention for its efficiency, scalability, faster transaction speeds, and lower fees than many existing platforms.
These qualities could make it attractive to both developers and everyday users looking for a seamless blockchain experience.
A notable feature of PlutoChain is its compatibility with the Ethereum Virtual Machine (EVM). This unique feature allows Ethereum-based DeFi applications to migrate to the Bitcoin network without requiring significant modifications.
By merging the unparalleled security of Bitcoin with the adaptable ecosystem of Ethereum, PlutoChain introduces new opportunities for DeFi, expands Bitcoin’s role in the industry, and challenges Ethereum’s current dominance.
Focused on security and trust
Security is a top priority for PlutoChain. The platform has been subject to a rigorous audit by SolidProof to ensure its infrastructure is secure and reliable.
Continuous audits and advanced encryption techniques add additional layers of security to protect user assets and private transactions.
PlutoChain visions include exciting developments such as private and public testnets, cross-chain bridging, and the eventual launch of its mainnet.
The project also aims to foster a dynamic community, with active channels on Twitter, TelegramAnd Discord for updates and engagement.
For a more in-depth look at PlutoChain’s technology and vision, its white paper offers a detailed overview of how the platform could bring value and innovation to the blockchain industry.
This project might just be one to watch as it could transform Bitcoin’s place in DeFi.
Visit the links below to learn more about PlutoChain and its unique features:
Official website: https://plutochain.io
Page X/Twitter: https://x.com/plutochain/
Telegram channel: https://t.me/PlutoChainAnnouncements/
Please remember that this article is purely informational and not financial advice. All cryptocurrencies are volatile, with prices subject to rapid change. Always do your own research