Will Shiba Inu reach 1 dollar? At the time of writing, this question dominates crypto discussions as SHIB price surges 3.6% to $0.00001156, as CoinGecko reveals. Recent data shows SHIB rejoining the “Trillionaire Club” with transaction volumes exceeding one trillion tokens. However, the question of whether Shiba Inu will reach 1 dollar remains mathematically challenging, requiring a market cap of $589 trillion.

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SHIB Price, Volume Spikes And Roadmap To The $1 Milestone

Transaction Volume Surge Signals Renewed Interest

Shiba Inu’s return to the Trillionaire Club has been marked by significant activity, and the numbers are quite impressive. On June 30, SHIB’s total transaction volume surpassed 1.2 trillion tokens, representing one of the network’s highest recorded values. This milestone reflects renewed wallet-to-wallet activity and also suggests retail traders are recycling substantial amounts of tokens right now.

The surge in transaction volume has been accompanied by a remarkable price recovery, and it’s been quite substantial. From its June low of $0.00001015, SHIB climbed to $0.00001744 on July 3, representing a 72% recovery. SHIB’s price movement above the 26-day EMA marked the first time since May that SHIB achieved this technical milestone.

Technical Barriers to Dollar Target

The question of will Shiba Inu reach 1 dollar faces substantial mathematical obstacles right now. With a circulating supply of 589,248,069,099,624 tokens, achieving $1 would require a market capitalization exceeding $589 trillion. This dwarfs the entire global cryptocurrency market cap of approximately $2.4 trillion.

Chart analysis reveals SHIB has broken out from an ascending trendline, and buyers are showing willingness to engage at higher levels. However, the 50-day EMA near $0.00001905 and also the 100-day EMA at $0.00001948 create resistance zones. The SHIB price needs to close above these levels to reach the next supply zone around $0.00002130.

Realistic Outlook and Market Dynamics

Although it is not likely for Shiba Inu to reach 1 dollar in the current situation, smaller numbers seem possible in terms of gradual expansion. The huge volume that was traded in twenty-four hours, over 40 percent, shows that it is an indicator of increased interest and this will mean a new entry to the market. Like the rest of the altcoins, SHIB is also having a good run, and the movement of capital in bull runs could be used to the advantage of the token, as long as Bitcoin and Ethereum continue to drive in the same direction.

Also Read: Shiba Inu Burn Rate Falls to 0% as Whale Holdings Jump 600%

The future of SHIB price will rely on continued adoption and further use of the currency in non-speculative trading. The existing burn rates would take centuries to make a significant change on supply without a boost. The Shiba Inu community has been persisting with encouraging the adoption still, but underlying developments are still important to consider, and focusing on whether or not the Shiba Inu will survive to 1 dollar soon is not the topic.