Can Shiba Inu Reach $1? Our 2023 Prediction Checked in 2026

Update 25 September 2026: This article was written on 3 February 2023, when SHIB traded at about $0.0000127. The short-term targets it named were missed in 2023 and only reached in March 2024, and on 25 September 2026 SHIB trades at $0.00000583, about 54 percent below the price at the time of writing. Our conclusion that $1 is out of reach still holds. The original analysis follows below as a dated snapshot, with the outcome added.

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Can Shiba Inu reach $1? The answer in 2026

No. With 589.2 trillion SHIB in circulation, a price of $1 would give Shiba Inu a market capitalization of about $589 trillion. That is roughly 200 times the value of the entire crypto market, which CoinGecko put at $2.89 trillion on 25 September 2026. SHIB itself is worth about $3.4 billion and ranks 33rd by market capitalization. From $0.00000583, reaching $1 would take a gain of about 171,500-fold.

Our regularly updated outlook for the coin is on the Shiba Inu price prediction page, and news on the whole sector is collected on our meme coin hub.

How has SHIB traded since February 2023?

All-time high and current price from CoinGecko, all other values from the SHIB/USDT market on Binance.

How much SHIB has been burned?

Burning means sending tokens to an address nobody controls, which takes them out of circulation for good. On 25 September 2026, the two main burn addresses held about 410.5 trillion SHIB, or 41 percent of the original supply of one quadrillion tokens, according to the SHIB token contract on Etherscan. Almost all of it goes back to May 2021, when Ethereum co-founder Vitalik Buterin sent roughly 410 trillion SHIB he had been given to a burn address. Everything burned since then is small by comparison and does not change the math above, because 589 trillion tokens are still in circulation. We ran the numbers in detail in what burning really achieves for Shiba Inu.

What happened to Shibarium?

Shibarium, the layer-2 network of the Shiba Inu ecosystem, went live in August 2023, after this article was written. It was meant to make transactions cheaper and give the ecosystem its own infrastructure. On 12 September 2025, attackers drained about $2.4 million from the Shibarium bridge after taking control of validator signing keys. K9 Finance, one of the projects on the network, later stated that 10 of the 12 validators had been compromised. The Shiba Inu team announced compensation in the form of "Shib Owes You" tokens that record what affected users are owed, and K9 Finance shut down its Shibarium products on 25 February 2026. The project's own reports on the incident are collected on The Shib Daily.

The original analysis from February 2023

Shiba Inu coin has benefited particularly strongly from the rise in cryptocurrencies in the past few days. In the last 7 days, the price was able to rise again sharply and saw a gain in value of over 20 percent. Many investors expect massive increases in the coming months and years. But can Shiba Inu reach $1 in 2023? What are some conservative predictions for Shiba Inu? Let’s analyze, without hype.

What is Shiba Inu Coin?

Shiba Inu is an Ethereum-based altcoin with the Shiba Inu hunting dog as its emblem. It is referred to as “the Dogecoin killer” by its fans, a group known as the SHIBArmy, and is commonly regarded as a Dogecoin alternative.

Shiba Inu’s price soared more than ten times in October 2021, giving the project a market value of around $41 billion. Despite a steep fall in market value to $6.2 billion as of September 25, 2022, Shiba Inu remained just behind Dogecoin among the meme cryptocurrencies. On 25 September 2026, its market value is about $3.4 billion.

Being an ERC-20 token based on Ethereum, Shiba Inu was created on and is housed on the Ethereum blockchain rather than its own blockchain. Ryoshi, the founder, claims that he chose Ethereum as the platform on which to build the Shiba Inu ecosystem because it was already secure, dependable, and allowed the project to preserve its decentralized character.

How much does a Shiba Inu cost?

Shiba Inu prices differ based on supply and demand, and different exchanges show slightly different prices. At the time of writing in February 2023, one SHIB cost around $0.000012. On 25 September 2026, it costs $0.00000583.

How much is 1 million Shiba Inu worth?

At the February 2023 price of $0.000012 per SHIB, 1 million SHIB tokens were worth around $12. At the price of 25 September 2026, the same million is worth about $5.83. Don’t get fooled when someone tells you they own millions of Shiba Inu tokens: they might be worth only a few dollars.

How to Mine Shiba Inu?

Shiba Inu operates on the Ethereum blockchain. Since Ethereum moved from proof of work to proof of stake in September 2022, there is no more mining for Ethereum or any token that runs on it. You cannot mine Shiba Inu; SHIB can only be bought or received.

Was Shiba Inu up in early 2023?

The Shiba Inu price saw a strong surge in the days before this article was published. In the seven days up to 3 February 2023, the Shiba Inu price rose by 18 percent. Unlike the other major meme coin, Dogecoin, Shiba Inu surged over that week.

This continued the positive development of the Shiba Inu price at the beginning of 2023. In the first days of the year, the increase in the SHIB price was smaller. From 13 January 2023 onward, however, several strong rallies pushed the price higher.

Why was the Shiba Inu price up?

Shiba Inu achieved one of the strongest increases among the major cryptocurrencies in those days. Earlier in the year, the rises in the meme coins DOGE and SHIB were smaller. From the middle of January, however, the move was particularly strong and triggered a lot of FOMO.

Meme coins often follow other market rallies with a certain delay. The fact that the Dogecoin price could not rise as much as the Shiba Inu price was probably due to Dogecoin having already seen several strong rallies in the fourth quarter of 2022.

How high could the Shiba Inu price reach in 2023?

In the coming weeks, we will have to see if cryptocurrency prices can continue to rise. It is quite possible that the Bitcoin price can even rise again to a value of 30,000 dollars in the next few weeks. But there can also be a final crash of the Bitcoin price below 20,000 or even below 15,000 dollars.

What happened: Bitcoin dipped just below $20,000 in March 2023, to $19,549 on Binance, but did not crash towards $15,000. It passed $30,000 in April 2023 and ended the year near $42,300.

However, the Shiba Inu price could continue to rise in the coming weeks and months. Theoretically, it could already rise to 0.0001 US dollars in the next few months. That would be an increase by a factor of 8 to 9, which seems like a very optimistic forecast. However, if the Bitcoin price rises above $50,000 this year, we could move towards this mark for the Shiba Inu price.

SHIB Price Prediction: What were the targets of Shiba Inu?

Knowing where Shiba Inu stood, we anticipated a further rise in SHIB’s price as soon as the price of $0.000018 was crossed. When this occurs, we anticipated that the whole cryptocurrency market would be back on a positive trajectory, with the majority of cryptocurrencies having overcome their particular barriers.

If this happened, these were the targets that Shiba Inu could reach:

• $0.000021
• $0.000025
• $0.000030

SHIB’s price was not likely to increase overnight. Those targets needed at least two months, as SHIB might continue lower toward the lower trendline in the short term. That is why opening a long position in SHIB looked risky at the time.

What happened: SHIB did not cross $0.000018 in 2023. Its highest price that year was $0.0000158 on 4 February 2023. All three targets were only reached in March 2024, when SHIB climbed to $0.0000457 on 5 March. The $0.0001 mark was never hit, even though Bitcoin rose above $50,000 in February 2024.

Can Shiba Inu reach $1?

Reaching $1 per Shiba Inu coin means that the total market cap of SHIB would hit around $550 trillion, based on the supply of early 2023. With the 589.2 trillion tokens in circulation in September 2026, it would be about $589 trillion, roughly 200 times the value of the entire crypto market today. SHIB is never likely to reach a price of $1.

Can Shiba Inu reach $0.01?

For Shiba Inu to reach 1 cent, its market cap would have to be about $5.9 trillion at the supply of September 2026. That is about twice the value of the entire crypto market on 25 September 2026. Shiba Inu is very unlikely to reach 1 cent, especially in the current market dynamics.

Conclusion: what the 2023 prediction got right

Our 2023 answer was right about $1 and too optimistic about the short term. The targets we named arrived a year late, and SHIB has since given back all of those gains. Neither the burn nor Shibarium changed the core problem: with 589 trillion tokens in circulation, every fraction of a cent in price needs billions of dollars in market value. Anyone holding SHIB should measure it against the whole crypto market, not against a round-number target. Whether SHIB is worth buying at today's level is discussed in Is Shiba Inu a Good Buy at Current Prices?

FAQ

Can Shiba Inu reach $1?

No. At $1, SHIB would be worth about $589 trillion, roughly 200 times the entire crypto market of $2.89 trillion on 25 September 2026.

What is the price of Shiba Inu today?

On 25 September 2026, SHIB trades at $0.00000583, according to CoinGecko, about 93 percent below its all-time high of $0.00008616 from October 2021.

How much SHIB has been burned?

About 410.5 trillion SHIB, or 41 percent of the original supply of one quadrillion, sit in burn addresses. Most of that comes from a single burn by Vitalik Buterin in May 2021.

How much is 1 million SHIB worth?

At $0.00000583, 1 million SHIB is worth about $5.83.

Was the 2023 prediction correct?

Only in part. The $1 verdict held, but the price targets of $0.000021 to $0.000030 were not reached in 2023 and only came in March 2024.