Shiba Inu, a popular meme coin, has garnered significant attention and a dedicated community since its inception. However, its potential to reach US$1 is viewed with skepticism by many experts. The primary reason is its massive circulating coin supply, currently at 589 trillion as of August 2023. To achieve US$1, Shiba Inu would need a market cap of US$589 trillion, an astronomically high figure compared to the entire crypto market's cap, which is just over US$1 trillion. Additionally, while Shiba Inu is working on various projects to enhance its utility and move beyond its meme coin status, such as the Shibarium blockchain and gaming initiatives, the consensus is that these developments, even combined with potential coin burns, are unlikely to propel its price to the US$1 mark in the foreseeable future. Moreover, the crypto market's competitive landscape, especially the crowded meme coin sector, poses challenges for Shiba Inu's growth. When it launched in 2020, its main competitor was Dogecoin, but now numerous dog-themed meme coins vie for market share. Various macroeconomic factors, like crude oil prices and inflation, can also influence Shiba Inu's performance. In conclusion, while Shiba Inu has potential and a series of projects in the pipeline, reaching a US$1 valuation in the near term is deemed improbable by most analyzed sources. As always, potential investors should conduct thorough research and seek expert advice before making decisions.