Is the $0.01 Shiba Inu Target Too Far-fetched?
Shiba Inu boasts 1.4 million holders and the number is growing rapidly worldwide as new investors join in. The majority of SHIB buyers are ordinary people who dream of redeeming their positions when the token price reaches $0.01.
Analysts say the wait for that to happen is long and could take years, if not decades, to reach $0.01, as the Shiba Inu bull run is over.
Now, back to the million-dollar question, how long will it take for the Shiba Inu to reach $0.01? In this article, we will explain the scenarios of how long it will take for the token to cross the $0.01 mark.
The biggest thing preventing the Shiba Inu from reaching $0.01 is its endless circulating supply. SHIB currently has a circulating supply of 589 trillion tokens. The token needs to burn at least 90% of its circulating supply to be considered breaking the $0.01 level.
Shiba Inu needs to maintain scarcity for a sustained price increase in the metrics. When tokens are scarce, supply and demand automatically increase, leading to higher prices.
The answer to the question of how long to wait for Shiba Inu to hit $0.01 is the time it takes to remove 90% of its circulating supply. If more than 500 trillion SHIB tokens are sent to dead wallets to be removed from the supply, investors can dream of $0.01.
