The meme token at the heart of Shiba Inu’s web3 ecosystem, known as SHIB, could potentially reach $1 per token in the next 5-10 years, in an optimistic forecast provided by prominent AI, ChatGPT. If this comes to fruition, it would mean tremendous gains for current token holders, the magnitude of which could be as much as 125,000 times. With a current token supply of 589 trillion, a $1 price would bring Shiba Inu’s market cap close to a staggering $600 trillion.
To put this into perspective, such a rally would transcend Bitcoin’s monumental return, which has been around 26,000 times since it was momentarily valued at $1 in April 2011. The question that remains is: how could Shiba Inu possibly ignite such an extraordinary rally?
According to ChatGPT, reaching the $1 mark could be viable if three integral conditions are met. First, Shiba Inu must gain widespread adoption and its token should be recognized as a standard form of payment or be integrated into popular platforms. Second, the token must invite considerable developer engagement, forming a robust community of developers equipped to produce innovative dApps and projects. Lastly, global regulators need to either support or, at least, not impede SHIB’s growth and ecosystem development.
Shiba Inu’s ambition to hit the $1 mark might seem overly optimistic, given that a market cap of $600 trillion would surpass the combined value of the worldwide stock and real estate markets. However, burning enough tokens could pave the way for Shiba Inu to reach the $1 landmark.
Besides Shiba Inu, ChatGPT also showed bullish sentiments towards an emerging web3 initiative called Launchpad xyz. The project aims to construct an all-in-one platform encompassing multiple facets of web3, such as a trading and investing terminal, an information hub, and tools for NFT trading and blockchain gaming/metaverse exploration. Launchpad xyz has raised $1.4 million via token sales from its native $LPX token so far. If the platform proves valuable to the web3, NFT, and crypto realms, $LPX could potentially see substantial growth by the end of 2023.
However, given the nascent stage of blockchain technology and Shiba Inu’s ecosystem, these predictions should be absorbed with a grain of skepticism. Investor vigilance, research, and patience are paramount when dealing with the thrilling yet unpredictable world of cryptocurrencies.
Source: Cryptonews
