Can Shiba Inu Become Worth $1 Cent?

Shiba Inu’s push for a value of $0.01 has been called into question as the price has remained below $0.00002 for a long time. Yet a crucial factor can turn the tide.

Is it realistic for Shiba Inu to reach $0.01?

Since May, Shiba Inu (SHIB) has held steady below USD 0.00002. Despite an increase in optimism and social activity, the price failed to break above this level, making $0.01 seem unattainable.

Still, there is hope for SHIB investors. Shibarium, the long-awaited layer-2 network for the Shiba Inu ecosystem, may provide the token with the necessary support to ultimately reach the $0.01 price target.

To reach $0.01, SHIB has to rise about 1000 times from its current price. While this seems unlikely, it is not impossible. The token price can reach $0.01 if the supply drops sharply, for example through token burns.

Although SHIB tokens are being burned daily, it is not fast enough to greatly affect the price. The token needs a game-changer that both burns tokens and adds value to the ecosystem. Shibarium can deliver on this.

Shibarium: The game changer

Shibarium, the highly anticipated project within the Shiba Inu ecosystem, is being watched with great interest for its potential to support SHIB’s $0.01 price target by introducing token burning and usability.

It was previously announced that Shibarium, the L2 network launched in March, will use 70% of base transaction fees to burn SHIB. With widespread use of Shibarium, this allocation could potentially burn trillions of Shiba Inu tokens.

Leading companies, such as NowNodes, Ledger, and Atomic Wallet, have expressed their support for Shibarium. Thousands of projects are also showing interest in developing on the platform, as evidenced by the many intake forms submitted – 7,000 applications were received in March alone. A high adoption rate could be crucial to Shibarium’s ability to burn trillions of tokens and push the price of 1 SHIB token to 1 cent.

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Shibarium is without a doubt the most crucial game-changer for Shiba Inu, but there are also other projects, such as ShibaSwap 2.0 and SHIB: The Metaverse, that can provide additional support for the target.

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