In 2023, the cryptocurrency sector experienced substantial expansion, with the combined market value of all digital currencies increasing from $850 billion to surpass $1.7 trillion, marking a year of noteworthy progress. Although Bitcoin (BTC) and other similar cryptocurrencies saw significant increases in value, it was not a universal trend across all forms of digital currency. In 2023, the meme cryptocurrency Shiba Inu (SHIB) experienced a relatively minor increase in value of 13%, following its surge in popularity in 2021. Investors are curious if 2024 offers any chance for SHIB to attain $23461, given that it is currently trading at 88% less than its peak value. Nevertheless, the actual situation could greatly differ from what is anticipated. A major hurdle hindering the significant surge of Shiba Inu is its massive circulation volume. At present, the circulating supply of SHIB tokens exceeds 299.99998 trillion, and the price of each token stands at $21. Shiba Inu’s market value now stands at $21 billion. To give a sense of scale, if each SHIB token were to be priced at $23, its total market valuation would have to skyrocket to an immense $22024 trillion.