A member of the Shiba Inu community recently sparked a debate on the potential for SHIB to reach a target price of $0.01. However, this ambitious proposal has prompted discussions regarding its feasibility.

The main idea involves using Shiba Inu as a gas token on the Ethereum network within a two-token model. This concept has received mixed reactions within the community—some believe in its potential, while others question its viability.

Shiba Inu as Ethereum’s Gas Token

Community member "Lola" suggested that if SHIB were to serve as a gas token on Ethereum, it could significantly increase its price. Lola explained that SHIB as a gas token, alongside Ethereum, could benefit from an auto-burning mechanism, leading to a gradual reduction in SHIB supply and, subsequently, a price increase.

According to Lola, this model would function similarly to Solana, where each transaction contributes to value growth by burning a portion of fees. She believes that if Shiba Inu adopted such a mechanism on Ethereum, it could support a price increase toward $0.01.

However, some community members met this idea with skepticism, suggesting that focusing on a burn mechanism specifically for SHIB might be a more realistic approach.

Challenges of a Two-Token Model on Ethereum

Implementing a two-token system on Ethereum could be complex, primarily due to the network's current structure. In such a system, two distinct tokens fulfill specific roles—one may serve as an investment vehicle, while the other supports network operations.

Projects like VeChain and MakerDAO have successfully implemented dual-token models, but each system is tailored to the unique needs of the respective project.

Historical Perspectives and Technical Barriers

Modifying Ethereum to accommodate SHIB as a gas token would pose both technical and regulatory challenges. Earlier this year, Shiba Inu’s marketing specialist Lucie pointed out that Ethereum is designed to use ETH as its sole gas token.

Lucie explained that Ethereum, operating on a Proof of Stake (PoS) consensus, relies on ETH as its main token. Integrating SHIB would require extensive network modifications, which could introduce new technical and security challenges.

She further noted that Ethereum’s infrastructure is closely tied to ETH as its native token, meaning that using SHIB as a gas token would necessitate significant adjustments to Ethereum’s software and protocols.

Such a transition would likely be costly and time-consuming and could cause confusion for users accustomed to Ethereum’s existing gas fee structure.

Alternative Proposal: Boosting Transactions on Shibarium

Other community members suggest that instead of implementing SHIB as Ethereum’s gas token, the focus should be on increasing transactions on the Shibarium platform, which already supports partial SHIB burns through transaction fees. Notably, when Shibarium experienced a surge in transactions last year, SHIB’s burn rate dramatically increased.

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