1. 1-Cent Goal: Achieving a 1-cent value for Shiba Inu (SHIB) would require a market capitalization of $1 trillion, a significant leap from its current $4.86 billion, posing a considerable uphill challenge.
2. SHIB's Ecosystem and Features: SHIB has evolved into a self-sustaining web3 ecosystem with scalability solutions and an active auto-burn mechanism, aiming for deflation over time.
3. Rise and Speculation: Despite the downturn in the 2022 crypto bear market, SHIB remains the second-largest meme coin, attracting extreme speculation after surging over 14 million percent during the 2021 bull rally.
4. Community and Development: Led by core developers like Shytoshi Kusama, the SHIB community actively combats internet FUD (fear, uncertainty, doubt) and boasts advanced web3 development with Shibarium, offering a layer two (L2) scaling solution.
5. Shibarium's Impact: Shibarium, with a TVL of about $681k, hosts key DeFi applications like MARSWAP and ChewySwap, enabling fast, secure, and low-cost transactions within the SHIB ecosystem. It supports scalability for high-throughput DApps like Gamify.
6. Deflationary Mechanism: Through its auto-burn mechanism, SHIB enforces deflation. A substantial number of tokens have been burnt, significantly impacting the circulating supply.
7. Price Analysis: SHIB's price has consolidated within a macro descending triangle over two years. To reach 1 cent, SHIB needs to break out 10X from its current value. It requires strong holders to counteract the buy-and-dump narrative and must sustain above the 50 Moving Average (MA) on the weekly timeframe to nullify the descending trend.
These aspects highlight the aspirations, challenges, and the technological advancements supporting Shiba Inu's journey toward a 1-cent valuation amidst a highly competitive meme coin landscape.
