Shiba Inu could surpass Dogecoin by 2030. Key drivers include utility upgrades, a growing holder base, and deeper integration into the Web3 ecosystem
Shiba Inu (SHIB) has had an extraordinary run since its inception in August 2020. The memecoin was established as a competitor to Dogecoin (DOGE).
SHIB’s price experienced a significant increase of many million percent from its launch until it reached an all-time peak of $0.00008616 in October 2021. Minimal investments have resulted in substantial profits for early investors.
SHIB’s Recent Subpar Performance
In recent years, SHIB’s performance has been subordinated. Since its 2021 zenith, the meme coin’s price has declined by 85.6%.
Conversely, Dogecoin (DOGE) has recently maintained a higher value. As we approach the decade’s conclusion, this trend may transform. We will examine three potential factors for SHIB to surpass DOGE by 2030.
The Reasons Why Shiba Inu May Replace Dogecoin by 2030
Supply is Restricted:
DOGE does not have a supply limit. This characteristic of the memecoin complicates the process of obtaining extremely high values. Conversely, the supply of SHIB coins is restricted to 589 trillion. Although the high supply of SHIB is a constraint on its price, a significant price increase could result from a decrease in supply.
The SHIB team is also developing a novel fire mechanism rumored to consume trillions of tokens annually.
The team has not provided additional information regarding the official launch date and the new combustion mechanism. By 2030, there is a potential for a significant decrease in the supply of SHIB.
Shibarium Adoption:
The Shibarium layer-2 network of the Shiba Inu has undergone significant advancements to enhance the utility of the SHIB ecosystem. The network is anticipated to continue to expand in the years ahead.
The price of Shiba Inu (SHIB) could experience a significant increase if the adoption of Shibarium increases by the end of this decade.
Cryptocurrency Market Upswing:
Over the next few years, the cryptocurrency sector is anticipated to expand at an unprecedented rate. According to numerous market analysts, Bitcoin (BTC) is expected to surpass the $1 million threshold by 2030.
A substantial market-wide rally will probably ensue when BTC reaches $1 million. A scenario of this nature could set the stage for SHIB to achieve unprecedented price levels.
