Amid recovery efforts in the crypto market, the dream of a Shiba Inu (SHIB) token price of US$1 is still on the minds of supporters. Shiba Inu is a memecoin that has caught many eyes as its price soared millions of percent in 2021, less than a year since its launch in the second half of 2020.
There are many billionaires created from investing in Shiba Inu, where the zero after the decimal point continues to decrease in price. This creates a dream of the SHIB token price becoming US$1, aka losing all trailing zeros.
SHIB Token Price Requirements Can Be US$1
Based on the Watcher News report, for a memecoin, price growth will depend on its popularity on social media. Even though real-world adoption is not that big and reliable yet, the sentiments formed on social media are able to cover a lot of the fundamentals, pushing the price of the token to a higher point. This has been proven to be the case with Dogecoin (DOGE) and Shiba Inu (SHIB).
For SHIB tokens, true investors still have their own worries because most of the supply is held by whale investors. That holds the potential for a huge dump if some of the whales decide to liquidate their holdings. This may even bury the SHIB token price dream of US$1 in the future.
In addition, the excessive supply was also the main factor preventing the SHIB token price from touching US$1, removing even more zeros from its current price.
For this reason, the community and team have implemented a burn mechanism to reduce supply, even though the amount burned is still relatively small of the total circulating.
Currently, supporters and investors are looking forward to the launch of the Shibarium layer-2 (L2) network, which is expected to enhance the Shiba Inu ecosystem, as well as help increase the burn rate of the SHIB token.
According to one Shiba Inu proponent, Shibarium has the potential to burn trillions of tokens every year. However, we still need to wait for confirmation from the development team, for clearer information regarding the burning of SHIB tokens from Shibarium. And to become US$1, the supply of Shiba Inu (SHIB) would need to be eliminated by more than 99 percent of the circulating supply.
Of course, this is a difficult thing to happen, because most investors will have to dump their SHIB tokens, and this will also take years for this to happen. Lets watch.
Amid recovery efforts in the crypto market, the dream of a Shiba Inu (SHIB) token price of US$1 is still on the minds of supporters. Shiba Inu is a memecoin that has caught many eyes as its price soared millions of percent in 2021, less than a year since its launch in the second half of 2020.
There are many billionaires created from investing in Shiba Inu, where the zero after the decimal point continues to decrease in price. This creates a dream of the SHIB token price becoming US$1, aka losing all trailing zeros.
SHIB Token Price Requirements Can Be US$1
Based on the Watcher News report, for a memecoin, price growth will depend on its popularity on social media. Even though real-world adoption is not that big and reliable yet, the sentiments formed on social media are able to cover a lot of the fundamentals, pushing the price of the token to a higher point. This has been proven to be the case with Dogecoin (DOGE) and Shiba Inu (SHIB).
For SHIB tokens, true investors still have their own worries because most of the supply is held by whale investors. That holds the potential for a huge dump if some of the whales decide to liquidate their holdings. This may even bury the SHIB token price dream of US$1 in the future.
In addition, the excessive supply was also the main factor preventing the SHIB token price from touching US$1, removing even more zeros from its current price.
For this reason, the community and team have implemented a burn mechanism to reduce supply, even though the amount burned is still relatively small of the total circulating.
Currently, supporters and investors are looking forward to the launch of the Shibarium layer-2 (L2) network, which is expected to enhance the Shiba Inu ecosystem, as well as help increase the burn rate of the SHIB token.
According to one Shiba Inu proponent, Shibarium has the potential to burn trillions of tokens every year. However, we still need to wait for confirmation from the development team, for clearer information regarding the burning of SHIB tokens from Shibarium. And to become US$1, the supply of Shiba Inu (SHIB) would need to be eliminated by more than 99 percent of the circulating supply.
Of course, this is a difficult thing to happen, because most investors will have to dump their SHIB tokens, and this will also take years for this to happen. Lets watch.
Amid recovery efforts in the crypto market, the dream of a Shiba Inu (SHIB) token price of US$1 is still on the minds of supporters. Shiba Inu is a memecoin that has caught many eyes as its price soared millions of percent in 2021, less than a year since its launch in the second half of 2020.
There are many billionaires created from investing in Shiba Inu, where the zero after the decimal point continues to decrease in price. This creates a dream of the SHIB token price becoming US$1, aka losing all trailing zeros.
SHIB Token Price Requirements Can Be US$1
Based on the Watcher News report, for a memecoin, price growth will depend on its popularity on social media. Even though real-world adoption is not that big and reliable yet, the sentiments formed on social media are able to cover a lot of the fundamentals, pushing the price of the token to a higher point. This has been proven to be the case with Dogecoin (DOGE) and Shiba Inu (SHIB).
For SHIB tokens, true investors still have their own worries because most of the supply is held by whale investors. That holds the potential for a huge dump if some of the whales decide to liquidate their holdings. This may even bury the SHIB token price dream of US$1 in the future.
In addition, the excessive supply was also the main factor preventing the SHIB token price from touching US$1, removing even more zeros from its current price.
For this reason, the community and team have implemented a burn mechanism to reduce supply, even though the amount burned is still relatively small of the total circulating.
Currently, supporters and investors are looking forward to the launch of the Shibarium layer-2 (L2) network, which is expected to enhance the Shiba Inu ecosystem, as well as help increase the burn rate of the SHIB token.
According to one Shiba Inu proponent, Shibarium has the potential to burn trillions of tokens every year. However, we still need to wait for confirmation from the development team, for clearer information regarding the burning of SHIB tokens from Shibarium. And to become US$1, the supply of Shiba Inu (SHIB) would need to be eliminated by more than 99 percent of the circulating supply.
Of course, this is a difficult thing to happen, because most investors will have to dump their SHIB tokens, and this will also take years for this to happen. Lets watch.
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