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$0.01 Technically Possible for Shiba Inu with $589T Market Cap — Here’s Only Way SHIB Can Reach It with Lower Valuation

Author: Content Editor
The article discusses the potential for the Shiba Inu cryptocurrency to reach a price of $0.01, which is a desired milestone for many SHIB holders. However, currently, Shiba Inu is trading at much lower than this target, requiring a significant surge to reach one cent. The token must increase by 52,365% from its current price to reach the $0.01 mark. Despite the demand for this price goal, analysts believe it may not be achievable due to Shiba Inu's large supply of tokens. The cryptocurrency currently has a supply of 589.26 trillion SHIB and would need a market cap of $5.89 trillion to reach the $0.01 target, which is more than twice the current global crypto market cap. To potentially reach this goal at a lower valuation, aggressive token burns are suggested, where SHIB would be sent to the official dead wallet, reducing supply and driving up the price. The Shiba Inu community is also proposing initiatives such as integrating SHIB with Ethereum to further reduce supply and increase the price. Additionally, the Shiba Inu team is working on enhancing token burns through Shibarium, a blockchain designed to burn SHIB using fees. The more significant the burns, the lower the valuation Shiba Inu would require to reach $0.01.

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