Shiba Inu fans often wonder if SHIB can reach $0.01, and we’re included! A Shiba Inu team member recently shared insights on X about how this might happen.
Let’s dive right in and explore the statements made by the Shiba Inu member.
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How SHIB’s Burn Mechanism and Community Growth Can Drive Its Value to $0.01
Image Source: Watcher Guru
The Challenge of Supply Reduction
Lucie, from the Shiba Inu team, talked about SHIB’s large supply.
She said:
“The devs can’t change the SHIB supply because Ryoshi burned the keys, meaning no one has control over it. To reduce the supply, SHIB needs to be bought and burned, and that takes money.”
As you can see from the Shibburn SHIB Supply image above, SHIb has had some transactions lately:
Key Statistics:
SHIB Price: $0.00001331 (up by 3.654%)
Market Cap: $7.85 billion (up by 3.05%)
Volume (24h): $196.17 million
Supply Information:
Total Burnt from Initial Supply: 410.73 trillion SHIB
Max Total Supply: 999.98 trillion SHIB
Total Supply: 589.27 trillion SHIB
Circulating Supply: 5.80 trillion SHIB
Burn Rate:
Burn Rate: -96.09% (Last 24 hours: 227,445 SHIB)
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The Power of Community Growth
To reach $0.01, Shiba Inu needs to grow its community. Lucie explained:
“To really reduce the supply in a big way, we need millions (even billions) of users! The plan is to build an epic system that brings in tons of people, using SHIBARIUM every day.”
This plan aims to burn more SHIB as the network grows. More users could mean more SHIB burns, which might increase its value over time.
Shibarium’s Role in Value Appreciation
Shibarium, Shiba Inu’s layer-2 solution, is key to this plan. It’s meant to increase network activity. More activity could lead to more SHIB burns.
Current SHIB Burn Statistics and Whale Activity
Source: IntoTheBlock
Recent data shows a 65.56% decrease in burn rate. In 24 hours, 3,632,401 SHIB tokens were burned. But large holder netflows went up by 1,387% in the past week. This might mean whales are buying more SHIB.
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Getting SHIB to $0.01 is hard but not impossible. It depends on community growth, more network activity, and regular token burns. The developers can’t directly reduce the supply. But as the ecosystem grows, the supply might naturally decrease over time.
