The current price of $SHIB is $0.00002622, but to reach the desired mark of $0.01, it needs to grow by a whopping 33,389%.
This ambitious goal has faced skepticism due to the massive circulating supply of $SHIB, which is measured in trillions.
Many analysts argue that such a price increase seems unrealistic without significant adjustments to the tokenomics.
Supporters of Shiba Inu, including Lola, emphasize the crucial role of deflationary mechanisms in influencing the future price trajectory of the token.
Token burning, which continuously reduces the circulating supply, is necessary to create scarcity and increase value.
She noted that previous opportunities for large-scale burns at lower prices may have been missed. She emphasized the need to focus on revenue-generating activities that can support current burning initiatives.
Lola cited Ripple's approach to $XRP as a clear example of how deflationary measures can enhance the value of an asset.
The future stablecoin currency of Ripple will burn $XRP during transactions, and some believe that this feature could enhance its value.
She suggested that adopting a similar model for Shiba Inu, where burns are integrated into highly active use cases, could significantly improve its long-term prospects.
In addition to burning tokens, Lola highlighted the importance of broader adoption and institutional support for the growth of $SHIB.
She proposed that platforms like Robinhood could integrate $SHIB into level 2 blockchain solutions.
Using $SHIB as a gas token in an L2 environment could enhance its utility and promote broader adoption, positioning the asset for mainstream applications and increasing its intrinsic value.
Further growth directions include expanding the $SHIB ecosystem to support decentralized finance (DeFi) applications and establishing partnerships with major industry players.
By increasing its utility in real-world scenarios, $SHIB could strengthen its market position and approach the target price of $0.01.
Despite these optimistic strategies, critics remain cautious, highlighting the complexity of achieving substantial price growth while managing a vast token supply.
However, supporters hope that deflationary strategies, technological innovations, and broader adoption can improve the prospects of Shiba Inu.
The ongoing discussion about $SHIB's price dynamics underscores the need for strategic planning within its ecosystem.
While the rise of $BTC to $1 million is driven by its scarcity and established market role, Shiba Inu faces a unique set of challenges.
