Shiba Inu's journey has been remarkable since its launch in 2020, gaining massive popularity as a meme coin. Many in the SHIB community are wondering whether SHIB could eventually hit $0.01. Here’s a look at the factors that impact this goal and what needs to happen for SHIB to reach it.
📈 Market Cap and Supply Challenges
Currently, SHIB has a massive circulating supply of around 589 trillion tokens. If SHIB were to reach $0.01 at this supply level, it would require a market cap of nearly $5.89 trillion. For comparison, that would be more than the combined market caps of leading tech giants and far exceeds the current crypto market cap. Reducing the supply is therefore essential to making this goal even remotely possible.
🔥 Token Burn Mechanism
To tackle the high supply, the Shiba Inu team has implemented a burn mechanism that permanently removes tokens from circulation. This includes the Shibarium network’s burn feature, which takes a portion of each transaction fee and burns SHIB, reducing the supply over time. So far, over 410 trillion SHIB tokens have been burned. But to hit $0.01, the burn rate would need to increase significantly.
💡 Expanding Utility and Ecosystem
SHIB’s ecosystem has evolved with ShibaSwap, a decentralized exchange, and Shibarium, a Layer-2 solution that speeds up transactions while lowering fees. Additionally, SHIB has a presence in the metaverse, allowing users to buy virtual land, further enhancing its utility. Building more use cases can attract a larger user base and potentially drive demand.
🛠️ Realistic Expectations
Reaching $0.01 is possible theoretically but would require substantial growth in utility, more aggressive burning, and possibly years of favorable market conditions. Experts predict that even with Shibarium, the likelihood of hitting $0.01 by 2025 remains low, though ongoing efforts could push SHIB’s value upward over time.
Is SHIB a good long-term investment? The answer depends on your risk tolerance and belief in the project’s future developments. Shiba Inu’s future looks promising with its expanding utility, but hitting $0.01 will require patience and a lot of work.
