Top crypto pundit Lola highlights 15 reasons why investors should believe in Shiba Inu, as several analysts expect its price to reach the $0.01 level.
Shiba Inu community members have remained optimistic about the future of SHIB, given the asset’s outstanding performance in the past week. Recall that Shiba Inu price soared nearly 300% last week to $0.000045.
15 Reasons Why You Should Believe in Shiba Inu
In the meantime, Lola, a Shiba Inu community figure, recently highlighted 15 reasons why SHIB holders should believe in the token’s future prospects.
SHIB’s Recognition in Hong Kong
The pundit emphasized the importance of SHIB’s integration into Hong Kong’s virtual asset index. Recall that Shiba Inu, along with 29 other crypto assets, was added to the index in June 2023.
The rationale behind the move was to give investors a suitable way to analyze the virtual assets’ performance and associated risks. Commenting, Lola suggested that SHIB’s listing in the index was massive, as Hong Kong is known as the leading financial hub in Asia.
She emphasized that the Chinese administrative region is currently working on approving Bitcoin spot ETFs, which could bolster the demand for crypto assets, including Shiba Inu.
Robinhood’s Ties With Shiba Inu
Per Lola, the fact that Shiba Inu is listed on Robinhood is a major reason why investors should believe in the token. She pointed out that Robinhood activated the last bull run, as TradFi investors on the platform channeled some of their funds into crypto.
The pundit also mentioned that Robinhood currently supports 15 tokens, including Shiba Inu, out of the more than 20,000 cryptocurrencies in the market.
According to Lola, this move shows that Robinhood does not support pump-and-dump tokens. Besides listing Shiba Inu, Lola claims that Robinhood holds over 20 trillion SHIB tokens, a move backed by top asset managers like BlackRock and Fidelity.
Shiba Inu Isn’t a Security
According to Lola, the U.S. SEC cannot label Shiba Inu a security as the token does not satisfy the prongs of the Howey Test. She noted that Shiba Inu’s launch was not profit-oriented and that the token’s underlying contract does not involve cloud mining.
100% Decentralized
Another reason Lola urged the community to believe in Shiba Inu is that the token is 100% decentralized on the Ethereum network. Additionally, she said SHIB has multi-chain features, confidential computing, and SaaS integration.
Listed Across Multiple Centralized Exchanges
For the fifth reason, Lola mentioned that Shiba Inu is currently listed on more than 90 centralized trading platforms and decentralized exchanges (DEX) worldwide. Some of these exchanges include Binance, Kraken, and KuCoin.
Alternative Payment Method
In addition, she noted that Shiba Inu is listed on multiple centralized exchanges, which allows users to use SHIB as an alternative payment method to Mastercard and Visa.
Shiba Inu Has a Pseudonymous Founder Like Bitcoin
Lola echoed that Shiba Inu was created by a pseudonymous founder named Ryoshi, the same way Satoshi Nakamoto created Bitcoin.
All SHIB Tokens Are in Circulation
For the eighth reason why the community should believe in Shiba Inu, Lola said SHIB has no locked-up token stored anywhere. According to her, all SHIB tokens are currently in circulation, making it difficult for anyone to manipulate or control the ecosystem.
It bears mentioning that SHIB has a total supply of 1 quadrillion tokens. Over 410 trillion tokens have been burned, while the remaining 589 trillion SHIBs are in circulation.
Shiba Inu Correlation With Bitcoin
Per Lola, Shiba Inu is correlated with Bitcoin, as the price of SHIB moves alongside BTC.
“If BTC moves up, we are moving too as long as the whales do not sell,” She said.
Vibrant Community
She added that Shiba Inu’s superpower is its vibrant community, known as the SHIB Army. Members of the community are completely focused on Shiba Inu and promoting the token to attract new investors.
Market Cap
At the time Lola made the post, Shiba Inu boasted a market cap of $20 billion, nearly 50% of the peak valuation of $45 billion recorded in 2021. This shows that Shiba Inu has prospects and could reach greater heights in the future.
Shiba Inu’s Deflationary Feature
Another reason why people should believe in Shiba Inu, according to Lola, is because SHIB is a deflationary token. She added that it combats inflation through ongoing burn campaigns, global demand, and high volume.
Notably, a huge percentage of SHIB tokens have been burned since Shiba Inu’s introduction in August 2020. According to data from Shibburn, over 410.72 trillion tokens have been incinerated so far.
Retail Mindset and Affordability
She emphasized that Shiba Inu was designed for retail investors, stressing that anyone can acquire Shiba Inu, whether or not the token’s price reaches the projected $0.01 value.
Maximum Security
She mentioned that the 14th reason investors should believe in Shiba Inu is that SHIB, being an ERC-20 token, can easily fulfill all security requirements.
Interoperability
Lastly, she mentioned that Shiba Inu is interoperable in nature and can function on both public and private networks.
With Lola trying to boost investors’ confidence, it is imperative to note that the canine-themed token still has a long way to go before reaching the projected $0.01 price level.
However, as more tokens are incinerated daily, Shiba Inu could easily embark on a bullish run toward the $0.01 price.
SHIB to $0.01
Shiba Inu’s latest uptrend reignited speculations that the asset might reach the coveted $0.01 (1-cent) price sooner than expected. Shiba Inu’s marketing lead, Lucie, also shared the same sentiment in a recent X post.
However, the $0.01 goal could be daunting for Shiba Inu, given its enormous supply, which currently stands at 589 trillion tokens.
Projected Timeline For SHIB Rally to $0.01
As a larger part of the Shiba Inu community believes the $0.01 projection is feasible, top analysts and analytical platforms have presented potential timelines for SHIB’s possible rally toward the price level.
The research team at Changelly crypto exchange speculated that SHIB could hit the $0.01 price between 2033 and 2040. According to the prediction, SHIB is expected to hit a maximum price of $0.029 by 2040.
Similarly, Telegaon also projected that Shiba Inu could achieve the 1-cent dream between 2035 and 2040. The analytical platform expects SHIB to reach a minimum price of $0.054 by 2040.
While these projections look enticing, SHIB is currently changing hands at $0.00003294. This implies that to reach the coveted $0.01 level, the token must rally 30,258% from its current price.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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