In a bold tweet, Lola, a prominent commentator within the Shiba Inu community, sparked a conversation about the potential future of Shiba Inu (SHIB).
She drew comparisons to Bitcoin and posed a thought-provoking question: If Bitcoin can reach $1 million per coin, why can’t Shiba Inu reach $0.01?
Notably, prominent industry leaders have argued for a future where Bitcoin could be worth $1 million per coin. They include Michael Saylor of MicroStrategy, financial author Robert Kiyosaki, and former Twitter CEO Jack Dorsey.
These industry experts have forecasted that Bitcoin could reach this lofty price point as early as 2030, just six years away. At $1 million per coin, Bitcoin would have a total market valuation of $21 trillion.
While experts are unanimous in their bold forecast for Bitcoin, skepticism remains regarding Shiba Inu’s potential to reach a lofty target like the one-cent dream.
Why Can’t Shiba Inu Reach $0.01 if Bitcoin is Expected to Reach $1M?
As of today, Shiba Inu is trading with four zeros at $0.00003. Attaining $0.01 would require Shiba Inu’s price to increase by 332-fold or 33,233%.
Market analysts have largely dismissed the possibility of Shiba Inu reaching $0.01, mainly due to its extensive circulating supply. Those who believe in the possibility often set extended timelines like 2040.
However, Shiba Inu proponents like Lola remain steadfast in the belief that this dream could become a reality someday.
Lola’s latest comments on the subject focused on the importance of SHIB’s tokenomics and its deflationary mechanism. She emphasized that burn activity plays a crucial role in its future value.
According to Lola, when SHIB was priced at $0.000006, it was the perfect time to reduce the supply. However, as SHIB’s price increases, the need for high-volume revenue-generating activities to support continued burns becomes even more significant.
She pointed to developments within the XRP ecosystem, where the incoming Ripple stablecoin will burn XRP with transactions, which enthusiasts see as a bullish factor. Lola cited this as a prime example of how burn mechanisms can enhance the value of a token.
Propositions for SHIB $0.01 Dream
Accordingly, Lola speculated that platforms like Robinhood could create Layer 2 (L2) solutions to avoid future regulatory issues and use SHIB as their gas token, helping the price soar.
In this hypothetical scenario, Robinhood adopting SHIB as the gas for transactions within their L2 could be a step toward mass adoption and usage of SHIB in a more mainstream context.
Ultimately, whether SHIB can reach $0.01 remains to be seen. Proponents believe that with the right combination of deflationary mechanics, increased adoption, and institutional integration, the path forward could be more promising than many think.