Despite the current token economics, Shiba Inu still has the potential to reach greater heights.
These ambitious targets include $0.001 and $0.01. It is worth noting that the main reason these ambitious targets have attracted attention recently is due to the Shiba Inu’s history of astronomical surges.
Shiba Inu Investors’ Optimism
A CoinGecko report from May last year confirmed that a $12 investment in Shiba Inu generated $1 million in gains within a year.
IntoTheBlock data confirms that Shiba Inu addresses have grown to 1.35 million at press time. This figure represents an increase of more than 30,000 addresses this year.
Lofty forecasts keep people hopeful. Last month, market analyst Krao predicted that the SHIB would soon reach the $0.001 level. In July, market commentator Luis Delgado said a rise in the Shiba Inu to $0.01 was a certainty.
However, although Shiba Inu is able to reach lower targets, whether it can reach higher targets such as $0.001 and $0.01 will depend on changes in token economics. The only factor that makes SHIB reach $0.001 and $0.01.
It is worth noting that if the circulating supply of Shiba Inu were to decrease by 95%, the number of tokens in circulation would reach 29.15 trillion. Using this figure, a price of $0.001 would result in a market cap of $29.15 billion, while a price of $0.01 would result in a market cap of $291.5 billion.
However, as the ecosystem team points out, such a large-scale burn may not be possible without community cooperation. It is important to note that no single individual can arbitrarily control the supply of Shiba Inus, as the supply of Shiba Inus is currently unavailable.
Therefore, token holders need to participate in the destruction. One way the ecosystem team calls for collaboration is to use Shibarium, a layer 2 solution that can use part of its base transaction fees to destroy SHIB.
