Shiba Inu (SHIB) has experienced quite an incredible run since its launch in August 2020. The memecoin positioned itself as a Dogecoin (DOGE) rival. From its launch in till it hit an all-time high of $0.00008616 in October 2021, SHIB’s price rallied by many million percent. Early investors have made massive gains with minimal investments.
SHIB’s Recent Lackluster Performance
SHIB’s performance has taken a back seat over the last few years. The memecoin’s price has fallen by 85.6% since its 2021 peak.
Dogecoin (DOGE), on the other hand, seems to be maintaining more value over the last few years. This trend may soon change as we approach the end of the decade. Let’s look at three reasons why SHIB could overtake DOGE by 2030.
Why Shiba Inu May Overtake Dogecoin By 2030
1. Limited Supply:
DOGE has no supply cap. This aspect of the memecoin makes it difficult to obtain very high prices. SHIB, on the other hand, has a limited supply of 589 trillion coins. While SHIB’s high supply is a barrier to its price, a dip in supply could lead to a substantial price rally.
The SHIB team is also working on a new burn mechanism, rumored to burn trillions of tokens yearly. The team is yet to disclose more details about the new burn mechanism and the official launch date. We could see a substantial dip in SHIB’s supply by 2030.
2. Shibarium Adoption:
Shiba Inu’s Shibarium layer-2 network has made substantial developments to bring more utility to the SHIB ecosystem. The network is expected to continue its growth over the coming years.
Shiba Inu’s (SHIB) price could see a substantial spike if Shibarium adoption grows by the end of this decade.
3. Crypto Market Rally:
Also Read: 3 Unknown Facts About Shiba Inu (SHIB) Cryptocurrency
The cryptocurrency sector is expected to grow at an unprecedented pace over the next few years. Many market experts anticipate Bitcoin (BTC) to breach the $1 million mark by 2030. BTC hitting $1 million will likely lead to a substantial market-wide rally. Such a scenario could set the stage for SHIB to hit never-before-seen price levels.
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