Shiba Inu had seven ‘zeroes’ in the indices in April 2017; currently, it has four. The token knocked out three ‘zeroes’ in a year and wants to remove more.
When Shiba Inu started trading in the indexes in April of last year, it had seven “zeroes.” As of right now, it only has four “zeroes.” In a year, the token eliminated three “zeroes” from its transaction, and it hopes to eliminate many more.
SHIB experienced a jump of +1,000% in just 30 trading days in October 2021, hitting an all-time high of $0.00008616. However, compared to its ATH, it is presently down -71.4 percent. The entire SHIB community is rooting for the token to surpass the $0.01 threshold. In the hopes that it will eventually hit the milestone, the phrase “1 Cent Dream” was created.
The community’s collective heartbeat, known as the “1 Cent Dream,” beats in unison with its daily aspirations of achieving the milestone. It is conceivably the only group of people who have the same goals of getting to the magic number.
The token’s enormous circulating quantity of SHIB is the only thing keeping it from realizing the “1 Cent Dream.” With a 549 trillion coin circulation supply, SHIB is essentially unable to establish a market cap where it can surpass the $0.01 threshold. SHIB must have a market cap greater than Bitcoin’s among other things in order to reach $0.01. With a 549 trillion coin supply in circulation, it is absurd to claim that its market cap will surpass that of bitcoin.
Therefore, the key question is whether Shiba Inu will reach $0.01 by 2030 or not.
Let’s go down the possibilities.
Shiba Inu first and foremost requires enormous amounts of burns in order to make the “1 Cent Dream” come true. Every year, vast amounts of coins need to be burned in order to remove them from circulation. Price increases naturally when there is a market shortage and high demand for the token.
Recently, SHIB Discord moderator Queenie presented a fictitious strategy for burning 111 trillion tokens annually. Her calculations, therefore, are merely hypothetical estimates and not accurate calculations. It might or might not occur. You can read about Queenie’s speculative calculations of the annual SHIB token burn here.
To get back on track, it will be a tremendous challenge for Shiba Inu to surpass the $1 threshold. Although difficult, the path is not impassable. In the world of cryptocurrency, anything is conceivable, as the phrase goes.
Shibarium Could Make the ‘1 Cent Dream’ A Reality?
SHIB must effectively utilize its ecology and put it to use if it is to follow the 1 Cent path. Simply put, the ecosystem ought to be the primary method for burning tokens on a daily basis.
For instance, the positioning of new projects like Shibarium and ShibaSwap 2.0 should be such that a tiny transaction fee collected from customers is utilized to burn the tokens.
Shibarium will surely attract more new users to the SHIB platform since petrol expenses would be lessened (which is the need of the hour). The modest transaction fee, which would be used to burn SHIB, could have a significant long-term impact on the token. Due to the enormous volume of transactions, the burn process will inevitably accelerate.
Shibarium might be a perpetually operating mill that forces investors to trade the token while also burning SHIB. The project may result in a win-win scenario for the team as a whole and the investors.
There is a chance for SHIB to surpass the $0.01 threshold if the burn process is correctly implemented by burning trillions annually. If not, the “1 Cent Dream” would continue to be just that—a dream—even beyond the following ten years.
