Here’s What Could Push Shiba Inu All the Way to $0.01

The alignment of several factors could propel Shiba Inu into a strong rally, potentially paving the way for a surge toward the $0.01 mark.

Market participants have remained focused on Shiba Inu, with some predicting its rally to $0.01. This prediction has triggered a significant debate within the crypto community.

Is $0.01 a Realistic Target for Shiba Inu?

As a result, several community members have questioned the possibility of Shiba Inu achieving this lofty target. Amid these concerns, Shiba Inu’s marketing lead, Lucie, portrayed the $0.01 prediction as a realistic target for Shiba Inu. However, she asserted that the prediction would not happen anytime soon, suggesting it could take longer before SHIB hits the target.

Community expert Luis Delgado (Del Crxpto) also backed the $0.01 prediction while responding to critics who claimed SHIB would not hit the target in its lifetime.

He argued that the crypto market has repeatedly demonstrated that anything is possible, implying that SHIB reaching $0.01 would not be an exception.

Further, experts from Changelly also believe the $0.01 target is realistic. They speculate the forecast would materialize by October 2040, 15 years from now. Despite these forecasts, many argue that SHIB will never reach $0.01, pointing to its vast 589.5 trillion token supply as the primary obstacle.

Based on Shiba Inu’s enormous supply, if its price soars to $0.01 per token, SHIB would skyrocket to a market cap of $5.89 trillion. This valuation surpasses Bitcoin’s current market cap and other major assets like silver.

Shiba Inu market cap at $001

Factors That Could Take SHIB to $0.01

Meanwhile, hitting the $0.01 target hinges on several factors, including burns, overall growth of the crypto market, and increased SHIB utility.

Massive SHIB Burns

Many argue that burning a substantial portion of Shiba Inu’s supply is the most suitable approach toward driving SHIB’s price to the $0.01 mark. The process involves reducing the number of SHIB in circulation by sending some to the official dead wallet.

There are multiple ways this reduction could occur, including:

• Voluntary burns by community members
• Shibarium-powered burns
• Burns by major exchanges like Binance and Coinbase using a portion of the fees collected from SHIB deposits and withdrawals

With a reduced supply, Shiba Inu wouldn’t require a massive market cap to reach $0.01. For example, if the total supply were reduced from 589 trillion to 50 trillion, the market cap required to hit $0.01 would be around $500 billion, much more achievable.

Bitcoin Market Cap Expansion

Another factor that could push SHIB’s price to $0.01 is the massive expansion of the total crypto market’s valuation led by Bitcoin’s rally. Notably, Bitcoin’s price action usually influences the performance of other crypto assets.

Shiba Inu’s correlation with Bitcoin has been around 87% over the past two months, showing BTC’s significant influence on SHIB’s price. If Bitcoin reaches an ambitious target of $1 million, the entire crypto market would likely experience a substantial boost.

Notably, Shiba Inu has a tendency to outperform Bitcoin during rallies, meaning even a modest surge in BTC could translate into greater gains for SHIB.

Mainstream Utility and Adoption

Furthermore, SHIB could experience substantial gains if the token sees more mainstream utility and real-world integration. This could involve being used as a payment method on major platforms such as Spotify, Amazon, Uber, Shopify, and Netflix.

Such adoption would drive demand and potentially lead to a significant price increase, bringing SHIB closer to the $0.01 target.

Strong Ecosystem Growth

Meanwhile, the growth of the Shiba Inu ecosystem could also support SHIB’s potential surge to the $0.01 price target. This expansion includes millions of daily Shibarium transactions driving SHIB burns, SHIB’s use in DeFi activities like staking and yield farming, the emergence of SHIB-powered games and debit cards, and its integration into the Web3 payment plugin.

Social Virality

Shiba Inu’s price could also surge if endorsed by celebrities or influential figures, such as Elon Musk. Recall that Musk was instrumental in driving Dogecoin’s price to an all-time high in 2021.

Despite attempts from Shiba Inu enthusiasts to attract his attention to SHIB, Musk has refused to give SHIB similar support. However, if he were to change course and show support, it could ignite a significant rally.

Moreover, widespread media coverage during bullish market phases could further drive investor interest and fuel SHIB’s upward momentum. Notably, media attention also contributed to Shiba Inu’s performance last season.