Can Shiba Inu Reach $0.01? | The Motley Fool

Shiba Inu
(SHIBI was absolutely stunned when I heard about Shiba Inu’s
tremendous growth last year. The Shib Army, Shiba Inu’s devoted fan
base, had been promoting the young cryptocurrency for a while, and
their efforts paid off with an increase of 45,000,000%! Despite
this remarkable gain, Shiba Inu’s price still hovers around a
fraction of a cent.

I’m wondering what it would take to boost Shiba
Inu prices. Fortunately, two monumental catalysts are on the
horizon. The first is a layer-2 scaling solution, and the second is
a metaverse project. These developments may be just the push Shiba
Inu needs to reach the one cent benchmark. Let’s get to the bottom
of it and see if these two initiatives can get the job done.

“Spontaneous community building”

I’m sure you’ve heard of Shiba Inu by now – the
popular meme token named after the Japanese dog breed. It’s no
wonder that the Shib Army has been pushing its gains. After all,
Shiba Inu was designed as an experiment in decentralized,
self-organizing communities, as indicated in the cryptocurrency’s
whitepaper. It’s been an exciting ride so far – and I’m sure it’s
only the beginning.

Shiba Inu isn’t a blockchain like bigger player
Ethereum, for example.
Instead, it’s a token that runs on the Ethereum network. That’s
held it back when it comes to real-world utility and innovation.
Shiba Inu’s uses are pretty much limited to payment and staking.
But change may be in the air.

I’m excited to see what’s coming up next for
Shiba Inu: Shibarium, a layer-2 solution! This will make it easier
to use Ethereum, with higher transaction volume, faster
transactions, and lower fees. This could be a great way to get more
investors and users on board. I’m looking forward to seeing how
successful this could be!

I’m getting into Shiba Inu’s metaverse! They’ve
already released some plots of land and are selling over 100,000.
Once I own a piece of land, I can get rewards and passive income
from the virtual world. Plus, more land will be available in
phases. Seems like a great way to gain some assets and make a
little extra cash.

Burning to reduce supply

Both Shibarium and the metaverse will include
burn mechanismsI recently heard about Shiba Inu’s coin burning.
They launched a portal in the spring to reduce their circulating
supply. It currently stands at 549 trillion tokens. Reducing the
supply is a great way to increase the value of each token you
own.

I’m curious to know if these events can send
Shiba Inu soaring to one cent! We already saw a huge rise in the
crypto’s value last year without any significant catalysts, but
before getting too hyped up, it’s important to consider two things.
Firstly, Shiba Inu doesn’t really stand out from its competitors;
it doesn’t offer anything that the others don’t. Therefore, it’s
hard to believe that it could experience a major surge in
price.

I’m taking a look at the math side of things.
Right now, if each Shiba Inu token was worth one cent, the value of
the cryptocurrency would be an incredible $5.4 trillion. That’s
five times the worth of the entire crypto market. Unfortunately,
the market dropped down to below one trillion recently, the first
time since the start of last year. Burning coins could help out
Shiba Inu, but if they want to get the supply of coins down to 999
billion, they’d have to get rid of 99% of the current supply.

All of this means it doesn’t look like Shiba Inu
is heading for one cent anytime soon. And that puts a big limitI’m
interested in the potential that this cryptocurrency player has to
offer. I’m hopeful that the future looks bright for this company.
I’m sure that the advances in technology and the strategic
decisions that the company has made will pay off. I’m confident
that the company’s dedication to innovation and security will put
them in a good position to reap the rewards of the cryptocurrency
market. I’m optimistic that the company’s experience and expertise
in blockchain will be the key to their success. I’m sure that their
commitment to customer satisfaction will help them stand out from
the competition. I’m excited to see what this company can
accomplish.