#SHIBA✅🚀
Can Shiba Inu reach 0.01 USD? It might be possible when the valuation is below 589.51 trillion USD!
Does everyone want to know if SHIB can rise to 0.01 USD? That price is something many holders dream of; if it really rises, it could change lives, allowing for early retirement or making a big profit. However, SHIB's price is still far from this goal; it needs to increase several times over. You see, SHIB is currently priced at just 0.0000266 USD, and it has even dropped a bit in the last 24 hours. To reach 0.01 USD, it would have to increase over 50,000 times from the current price!
Market Cap Challenge: 0.01 USD is not easy
SHIB has a particularly large token supply, currently at 589.26 trillion tokens, which is why reaching 0.01 USD is so difficult. If we want to reach 0.01 USD without reducing the token supply, the market cap would need to reach 5.89 trillion USD, which is more than double the current global cryptocurrency market cap! Currently, SHIB's market cap is only 112.1 billion USD, ranking 13th. This means SHIB's market cap needs to multiply over 50,000 times to make it happen.
Token Burn: It might help
Many analysts believe that SHIB reaching 0.01 USD will not be possible without adjusting the token supply. However, there might be a way, and that is through token burns. Burning tokens can reduce the supply, which could allow the price to rise without needing the market cap to be that high.
SHIB initially had 1 quadrillion tokens, and now 410.73 trillion tokens have been burned. Although so many have been burned, more needs to be burned to reduce the supply to a level that can support a price of 0.01 USD.
The Role of Shibarium
The Shiba Inu team is working to increase the burn rate through their Layer 2 blockchain, Shibarium. Shibarium uses part of the transaction fees to burn SHIB tokens. Since last year, Shibarium has burned over 55 billion SHIB, and as the network usage increases, the amount burned will likely increase even more.
If Shiba Inu continues to burn tokens, reaching 0.01 USD at a lower market cap could become possible, especially with increasing transaction volume on Shibarium, helping to reduce the token supply.
Recently, I plan to take a position in a potential coin that is ready to explode, doubling is quite simple, and I am also looking for some potential coins to hold until the end of the year, expecting a growth space of over 10 times is not a problem. If you want to keep up, leave a comment, follow, like, and share for free.
