As of today, Shiba Inu is trading with four zeros at $0.00003. Attaining $0.01 would require Shiba Inu’s price to increase by 332-fold or 33,233%.
Market analysts have largely dismissed the possibility of Shiba Inu reaching $0.01, mainly due to its extensive circulating supply.
However, Shiba Inu proponents like Lola remain steadfast in the belief that this dream could become a reality someday.
Lola’s latest comments on the subject focused on the importance of SHIB’s tokenomics and its deflationary mechanism. She emphasized that burn activity plays a crucial role in its future value.
According to Lola, when SHIB was priced at $0.000006, it was the perfect time to reduce the supply. However, as SHIB’s price increases, the need for high-volume revenue-generating activities to support continued burns becomes even more significant.
She pointed to developments within the XRP ecosystem, where the incoming Ripple stablecoin will burn XRP with transactions, which enthusiasts see as a bullish factor. Lola cited this as a prime example of how burn mechanisms can enhance the value of a token.
Propositions for SHIB $0.01 Dream
Accordingly, Lola speculated that platforms like Robinhood could create Layer 2 (L2) solutions to avoid future regulatory issues and use SHIB as their gas token, helping the price soar.
In this hypothetical scenario, Robinhood adopting SHIB as the gas for transactions within their L2 could be a step toward mass adoption and usage of SHIB in a more mainstream context.
Ultimately, whether SHIB can reach $0.01 remains to be seen. Proponents believe that with the right combination of deflationary mechanics, increased adoption, and institutional integration, the path forward could be more promising than many think.
Disclaimer:
The information provided here is intended for informational and educational purposes only. It does not constitute financial or investment advice. Always perform your own research before making any investment or trading decisions.