Shiba Inu (SHIB) price reaching $0.01 is quite difficult based on the current state of the cryptocurrency market, but it is not completely impossible.
Reasons why reaching $0.01 is a challenge:
1. Mass Supply:
The current number of SHIB coins in circulation exceeds 589 trillion coins.
If the price of SHIB reaches $0.01 with the current supply, the total market cap will reach about $5.89 trillion, a number that exceeds the market cap of Bitcoin and all digital financial markets combined.
2. Burning Mechanisms:
To achieve this goal, SHIB needs to significantly reduce the number of coins in circulation (via burning).
There are already efforts to burn coins, but the current rate of burning is too slow and not enough to bring about a significant reduction in supply anytime soon.
3. Demand and supply:
Demand for the currency needs to increase massively to keep up with this price.
This requires the entry of large investors and huge projects that support SHIB.
4. Compared to current market value:
SHIB's market cap is currently around $5-10 billion (varies depending on the market). Reaching $0.01 would mean a massive increase in its market cap, which is unprecedented.
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Scenarios that could make the price go up:
1. Increase the burning rate:
If initiatives succeed in reducing supply to billions rather than trillions, reaching $0.01 could be more realistic.
2. Wide adoption:
If $SHIB becomes widely used as a means of payment or in other applications, demand could increase significantly.
3. Launching innovative projects:
Projects like Shibarium can attract more users and investors.
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Conclusion:
SHIB reaching $0.01 under the current circumstances seems unrealistic, unless major changes occur such as a significant reduction in supply and increased adoption and demand. As always, remember that investing in cryptocurrencies is risky, and it is best to do your research and planning well before investing.
