Shiba Inu (SHIB) Shows Resilience Amid Market Turmoil
Shiba Inu (SHIB) has shown resilience as it strongly holds above the $0.0000128 support level in the face of severe broad market meltdowns and macroeconomic concerns. According to our market data, the asset has recorded an impressive surge of 2.4% in the last 24 hours and 7.6% in the last seven days. Fascinatingly, its daily trading volume has shown support for this current trend, rising by 10% within the period, with $162.9 million flowing around the market.
Potential for Future Growth
According to analysts, the asset could continue this momentum to kill additional zeros in preparation to hit $0.01 in the long term. Fascinatingly, this possibility has been agreed upon by several key players, including a prominent community member identified as Lucie. As outlined in our recent blog post, she disclosed that price fluctuation does not cast any doubt in her belief that the price could eventually hit 1 cent. Similarly, another analyst known as Grok3 has highlighted that reaching this milestone in 2025 is theoretically possible.
Theoretical Path to $0.01
SHIB could theoretically reach $0.01 in 2025 if it combines aggressive token burns (reducing supply by 90%+), explosive adoption via Shibarium and real-world use, and a historic bull market fueled by hype and investment. Researching how SHIB could reach this milestone, CNF found three key factors – SHIB burns, utility, and mass adoption.
SHIB Burn
In 2021, Ethereum co-founder Vitalik Buterin received half of the SHIB supply and decided to burn 90% of it. Following this decision, the price recorded a significant surge, rising from $0.000000000077 on January 1, 2021, to $0.00008845 on October 28, 2021. In any case, burning a significant portion of the supply has proven to be a “magic wand” that causes an unprecedented rally. As of the time of writing, the asset had a circulating supply of $589.25 trillion. This implies that rising to $0.01 would position the market cap to $5.89 trillion. However, this appears unrealistic unless a significant portion of the supply is burnt. Fascinatingly, a mechanism has been instituted for this to happen. Days ago, 28.4 million tokens were removed from circulation, representing a burn rate of 3,255.93%. As noted in our earlier post, this could fuel a 550% surge in SHIB’s value.
Utility
According to analysts, more utility could significantly impact the number of users, create a shortage in the token’s supply, and cause a spike in price. However, typical meme coins usually lack utility. To bridge this gap, the Shiba Inu team has introduced its layer 2 solution, the Shibarium network, with many applications expected to be built on it.
Mass Adoption
Experts have highlighted that token burn alone could fail to trigger a huge rally without adoption. This implies that the asset would have to truly go mainstream and become a useful currency for the day-to-day operations of individuals and institutions. Meanwhile, the team has already unveiled collaborations and partnerships on its roadmap to improve visibility. As mentioned in our previous article, Shiba Inu has partnered with the UAE government to advance Web3 solutions in the energy and infrastructure sectors.