The Shiba Inu token has seen immense success over the past few months, having skyrocketed at the start of 2021. Reaching a peak of $0.00002 USD, enthusiasts of the meme coin have been trying to figure out what is necessary to push SHIB to finally be able to reach the $0.01 mark. One avid supporter of the token, Twitter user and SHIB enthusiast @ShibBPP, set out to answer this question, communicating to his 51,000 followers that he believes that — in order to reach that goal — three main factors need to come together: mass adoption, staking/liquidity, and burning.

SHIB has been welcomed by several different platforms in the past few months as a payment method. Recently, the use of the token was expanded as SHIB holders will now have access to an affiliate program from the Travala travel operator, providing SHIB users with discounts when booking trips through the website. This program connectivity is in tandem of the initial partnership set between SHIB and Travala back in November 2020, when the travel company first added the SHIB token to the list of accepted cryptos. This form of adoption has followed other more traditional moves, such as the use of SHIB as a payment method at the upcoming Miami Design District store by Ralph Lauren.

The SHIB community has also taken part in increasing the value of the token, increasing liquidity and removing large amounts of SHIB from the circulation of the supply. These efforts were amplified with the launch of Shibarium beta under the name “Puppynet” on March 11. Tracking platforms such as Shibburn have shown an impressive 35,500% growth in the SHIB burn rate on Friday, going from burning 50,000 SHIB the day prior to 17,804,606 SHIB on that specific day.

This combination of mass adoption, staking/liquidity, and burning of Shiba Inu could be the support that SHIB needs to reach the long awaited $0.01 level. Whilst no one can be certain about the behaviour of the crypto markets, situations like this one indicate that SHIB could yet have a surprise left in store.



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