SHIB is a popular meme-inspired cryptocurrency that has seen tremendous growth in 2021. With a circulating supply of over 549 trillion tokens, SHIB is designed to allow greater accessibility for crypto investors. Many are curious how much SHIB their US dollars can purchase.
What is SHIB?
SHIB (Shiba Inu) is an ERC-20 token on the Ethereum blockchain created in August 2020 by an anonymous person or group called Ryoshi. Nicknamed the “Dogecoin Killer”, SHIB was inspired by the popular Dogecoin meme.
The SHIB token features the Shiba Inu dog as its mascot and has grown to become one of the top 20 cryptocurrencies by market capitalization. As of October 2021, there are 1 quadrillion SHIB tokens in circulation.
SHIB Price History
Since its creation, SHIB has seen tremendous growth in price and market cap:
- Launch price on August 1, 2020: $0.0000000001
- May 10, 2021: $0.00001391 (All time high)
- October 1, 2021: $0.000007
As of October 16, 2023, SHIB is trading around $0.000043 with a market cap of over $24 billion. The meme token has seen massive volatility but has firmly established itself as a top ranked crypto asset.
Buying SHIB Tokens
There are several ways to purchase SHIB tokens:
- Cryptocurrency exchanges like Binance, Coinbase, KuCoin
- Decentralized exchanges like ShibaSwap and Uniswap
- SHIB is also available on many brokerage apps like Robinhood and Webull
Exchanges allow you to trade dollars for SHIB at the current market rate. Transactions fees are usually between 0.5% to 5% depending on the platform.
How Much SHIB Can You Buy With $100?
The amount of SHIB tokens that $100 can buy depends on the current price. Here are some examples at different SHIB prices:
| SHIB Price | SHIB Tokens From $100 |
|---|---|
| $0.00001 | 10,000,000 |
| $0.00005 | 2,000,000 |
| $0.0001 | 1,000,000 |
| $0.001 | 100,000 |
Based on the current SHIB price of $0.000043, $100 would buy approximately 2,325,581 SHIB tokens before fees.
SHIB Price of $0.00001
If SHIB were trading at $0.00001, then with $100 you could buy 10,000,000 SHIB. This is the launch price from August 2020.
SHIB Price of $0.00005
At a hypothetical price of $0.00005 per SHIB, $100 would buy 2,000,000 tokens. This is closer to the all-time high from May 2021.
SHIB Price of $0.0001
If SHIB reached $0.0001 per token, then $100 would be able to buy 1,000,000 SHIB. This price point remains a short-term target for many SHIB investors.
SHIB Price of $0.001
In the unlikely event SHIB reached $0.001 per token in the near future, $100 would buy 100,000 SHIB. This remains the long-term price target for many fans.
Factors That Impact SHIB Price
There are several key factors that influence the price of SHIB tokens:
- Supply – High circulating supply makes large price increases unlikely in the short term.
- Demand – Rising demand can quickly drive SHIB price up based on speculation.
- Listings – Getting added to major exchanges like Coinbase helps boost liquidity.
- Whales – Large individual holders owning trillions of tokens impact price.
- Developments – Upgrades like Shibarium layer-2 network and ShibaNet blockchain planned.
- Celebrity endorsements – Tweets from the likes of Elon Musk drive hype.
Is SHIB a Good Investment?
Views are mixed on whether SHIB is a good long-term crypto investment. Here are some pros and cons to consider:
Pros
- Large loyal community fanbase gives SHIB momentum
- Low price makes SHIB attractive and accessible to crypto newcomers
- Plans to launch innovative Shibarium and ShibaNet ecosystems
- Major exchange listings offer legitimacy
Cons
- No real utility beyond speculative trading
- High supply raises doubt of reaching $0.01 let alone $1
- Vulnerable to pump and dumps from whales and influencers
- Little incentive for long-term holding relative to other cryptos
SHIB remains a very high risk, high reward cryptocurrency. The meme token defied many skeptics in 2021 with massive returns for early adopters. However future growth depends on expanding utility and overcoming tokenomics limitations.
Conclusion
SHIB has established itself as a leading meme coin with a passionate community. While unlikely to reach $1 anytime soon, many investors are attracted to SHIB’s high risk, high reward potential.
With $100, an investor can buy approximately 2.3 million SHIB at the current price of $0.000043. This amount of tokens will fluctuate widely based on market volatility. While SHIB faces challenges in hitting higher price milestones like $0.01, its momentum makes it an interesting speculative asset to small invest and track in the crypto bull run.