Shiba Inu (SHIB) is a meme token that has taken the crypto world by storm and many investors are wondering if SHIB can reach $0.01, a price that would make it one of the most valuable cryptocurrencies in the market.
In this article, i will explore seven reasons why SHIB has the potential to reach this milestone.
SHIB has a loyal and growing fan base. The Shiba Inu community is one of the most active and engaged in the crypto space. They support each other, promote the project, and create memes and artworks to spread the word. The community also has influential figures such as Elon Musk and Vitalik Buterin, who have shown interest or support for SHIB in the past.
SHIB has a strong use case and utility. Unlike many other meme tokens, SHIB is not just a joke or a speculation vehicle. It is the native token of the Shiba Inu ecosystem, which includes Shibaswap, a decentralized exchange that allows users to swap, stake, and farm tokens; Shiba NFT, an art incubator that showcases and supports talented artists; and Doggy DAO, a governance system that empowers holders to vote on proposals.
SHIB has a scarce supply and a deflationary mechanism. SHIB has a total supply of one quadrillion tokens, but half of it was sent to Vitalik Buterin's wallet, who later donated 10% to a COVID-19 relief fund in India and burned 40%, leaving only 5% in circulation. Moreover, SHIB has a built-in burn feature that reduces the supply every time a transaction is made or a service is used on the ecosystem.
SHIB has a high market demand and liquidity. SHIB is one of the most traded and popular cryptocurrencies in the market. It is listed on many major exchanges such as Binance, Coinbase, MEXC, and DigiFinex. It also has a high trading volume and liquidity, which means that it can be easily bought and sold without affecting the price too much.
SHIB has a competitive edge over its rivals. SHIB is often compared to Dogecoin (DOGE), another meme token that has a similar theme and fan base. However, SHIB has several advantages over DOGE, such as having more features, faster transactions, lower fees, and more room for growth. SHIB also has a more diverse and innovative team behind it, who are constantly working on improving and expanding the project.
SHIB has a positive market sentiment and trend. SHIB is riding on a wave of optimism and enthusiasm in the crypto market. It has recently reached an all-time high price of $0.000084 on Oct 28, 2021, which was a 150 million times increase from its launch price in August 2020. It also has a bullish trend on various indicators such as market pressure, fear and greed index, and social media activity .
SHIB has a realistic and achievable goal. Reaching $0.01 may seem like a far-fetched dream for SHIB, but it is not impossible. Based on its current price of $0.00001046, it would need to increase by 956 times to reach $0.01. This may sound like a lot, but it is actually less than what SHIB has already achieved in its short history. If SHIB can maintain its momentum and overcome any challenges along the way, it can reach $0.01 sooner than expected.
These are some of the reasons why i believe that SHIB can reach $0.01 in the future. Of course SHIB is more than just a meme token, but a potential game-changer in the crypto space. I am personality Bullish for SHIB, hoping the best for future only TIME will tell.. cheers ☕
*This not financial advice, DYOR
*you may say i'm dreamer but i'm not the only one - Elton John
