Latest news with #BONE
Yahoo
05-05-2025
- Business
- Yahoo
Can Shiba Inu Reach $1 in 2030?
To say that Shiba Inu has been on a wildly volatile journey would probably be putting it lightly. The meme cryptocurrency, inspired by its predecessor Dogecoin, absolutely skyrocketed in late 2021 to hit its peak in October that year. But it's been a bumpy downward trend since. As of April 25, this token trades 84% below its record, although it has had short-lived price bursts. Maybe this cryptocurrency is drawing the attention of risk-tolerant speculators who believe a monster run is in the cards throughout the rest of the decade. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Can Shiba Inu rise 7,112,276% from its current price of $0.00001406 to reach $1 per token in 2030? Here's what investors need to know about this truly ambitious target. I believe the long-term viability of any cryptocurrency depends on its ability to introduce real-world utility to the mix. Otherwise, a project might become irrelevant. Shiba Inu is trying to add more functionality to its blockchain. There's a layer-2 scaling solution called Shibarium that's meant to speed up transactions and lower costs. Users can interact with a Shiba Inu metaverse. And there are related tokens, like BONE for governance and LEASH for loyalty benefits, that can cater to more people. It's easy to argue, like I have in the past, that Shiba Inu doesn't solve a legitimate problem and provides no real-world value. I stand behind this view, which I think many others would agree with. However, it's not necessarily fair to say that Shiba Inu is worthless. We're almost five years past its launch, and the cryptocurrency is currently worth $8.3 billion, making it the 16th most valuable blockchain network on Earth. Despite the extreme volatility, there is some nominal monetary value here. Consequently, I believe it's best to look at Shiba as a type of new-age digital collectible. And this plays to the idea that cryptocurrencies are about community as well. The so-called SHIB army, Shiba Inu's supporters, have contributed to something that's worth more than companies like Sweetgreen, Hims & Hers Health, and Etsy, which is crazy to think. Since its launch in August 2020, Shiba Inu's price has catapulted almost 14,000-fold higher, even though it's trading significantly off its peak from late 2021. In order for the token to get to $1 by 2030, it would need to climb at an annualized rate of 834%. I don't think this is even remotely possible. The current token supply is 589 trillion. Based on a $1 price tag, this implies the entire blockchain network will be worth $589 trillion in five years. That would be about 20 times larger than the U.S. economy. This is an outrageously big number. There is a coin-burning mechanism in place to reduce the supply. According to 15.2 million tokens were burned in the past 24 hours. At this rate, it would take a whopping 66,000 days (or 180 years) to burn just 1 trillion tokens. That's hardly making a dent. Shiba Inu has found interest among speculators looking to gamble on its price movements. In theory, this seems pretty simple. Buy low and sell high, as they say. And then just repeat that process on the road to riches. The issue, though, is that this will undoubtedly end up badly. Investing is done right when there's an intense focus on the long term. And for long-term investors who want to own the highest-quality assets, it's best to avoid Shiba Inu at all costs. This strategy will work wonders for your portfolio, as well as your peace of mind. Before you buy stock in Shiba Inu, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Shiba Inu wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $594,046!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $680,390!* Now, it's worth noting Stock Advisor's total average return is 872% — a market-crushing outperformance compared to 160% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 28, 2025 Neil Patel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Etsy. The Motley Fool recommends Sweetgreen. The Motley Fool has a disclosure policy. Can Shiba Inu Reach $1 in 2030? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-03-2025
- Business
- Yahoo
Shiba Inu burn rate explodes over 57,000% as whale burns 2 billion tokens
The Shiba Inu (SHIB) burn rate skyrocketed around 57,069.02% over the last 24 hours, with more than 1 billion SHIB permanently removed from circulation in a single transaction, as per Shibburn In a single transaction, more than 1 billion Shiba Inu was permanently removed from circulation through burn, and just days after the same whale burned, an additional 1 billion SHIB was burned in less than three days. Lucie, part of Shiba Inu's marketing team, also confirmed that the address burned 700 BONE and LEASH tokens, expressing a deep commitment to SHIB's deflationary future. She said, "There was another 1B SHIB burn. The address was totally the same, and 2B SHIB burned in a 3-day frame. What caught my attention? The same address also burned 700 BONE and LEASH—unstacked from ShibaSwap." In correlation with this thesis, IntoTheBlock data revealed that SHIB's large transaction count—accounting for transactions worth $100k or more—surged in one day from 65 to 164, a +152% daily increase, hitting its 7-day peak on March 26. Four days earlier, on March 23, the 7-day low was 23. This explosion in whale activity coincides with a 51.8% increase in daily active addresses, which indicates an increase in demand. Data from Shibariumscan confirms that the network now processes 3.8 million daily transactions, a clear sign of continued on-chain activity. Shiba Inu, which has a market cap of $8.38 billion, announced SHIB Pay on March 25. SHIB Pay is a new crypto payment layer for merchants that features fast settlements with zero intermediaries and worldwide coverage. In the next phase, Shib Finance is set to introduce reputation-based lending. It will also provide undercollateralized loans and private DeFi tools as part of the ecosystem developments it offers, pushing the ecosystem toward trust-based inclusive finance. With all the technical prowess on its way, on March 16, analyst Javon Marks said that Siba Inu could explode +500% towards $0.000081. After the burn, Shiba Inu could not break past the resistance level and is trading at $0.00001424, down by over 6%, as per Kraken's price feed.
