This is a topic I have wanted to write about for a while now. Considering how the cryptocurrency market has been fluctuating.
Source
There have been loads of questions as regards the possibility of Shiba Inu ever reaching $1.
Just like me, a whole lot of people, especially the Shib Army have waited patiently and hopefully for the coin to at least reach the $1 mark. But cryptocurrency experts have stated that it is quite impossible to see.
Here's why; The total supply of SHIB coin is $549 billion. Therefore, if a SHIB token amounts to $1, then there is no way the market capitalization of SHIB would exceed the global economic standard.
Therefore if we are being factual, all we can hope for at this time is a rise to $0.1 now. Only if Shiba Inu follows all necessary criterias. Still, we’ll keep our fingers crossed in the hopes that SHIB will one day make holders millionaires or billionaires.
Nonetheless, no one would ignore how much progression Shiba Inu made in the past year. I mean, the coin saw a staggering 26,000,000 percent increase after investors noticed it.
If you recall, SHIB did reach an all-time high sometime towards the end of last year, October precisely. But, it has seen a price drop ever since then as a result of the prolonged downward trend. Nonetheless, SHIB still outperforms some other currencies.
There are factors, however, that can contribute to SHIB’s growth;
SHIBBURN
Based on what I've learnt from Analytics insight, this describes the burning of Tokens by SHIB holders. Basically, it involves the use of three special accounts and two dead wallets with no available keys, and tokens are delivered to the Genesis address to limit supply.
SHIB burn is very common in the community. As a matter of fact, well over $467,903,362 SHIB tokens have been burned in the last 48 hours.
Still, experts have pointed out that Shibburn cannot be the only factor to drive the token to the $0.1 mark. Whatever happened to staking and holding?
According to Shibburn, way over 7.2 million tokens were burned between August 2021, and September, 2021
ShibaSwap
ShibaSwap - Is a website, like many other crypto exchange platforms and it will function as a decentralized intermediary for buying and selling cryptocurrency.
With the publicity and numerous holders of the token, we hope that this will go a long way in improving their profits in the long run.