Here is the Only Way Other Than Shiba Inu Burns For SHIB to Reach $0.01

While aggressive SHIB burns are often seen as the only way for Shiba Inu to reach $0.01, SHIB could still hit that milestone through other means. 

Like most crypto assets, Shiba Inu’s performance has been below expectations. Given the positive developments in the market, most Shiba Inu community members expect the token to be trading at higher levels compared to the current price. 

In particular, the United States government, under Donald Trump’s leadership, has been supportive of crypto. The government is making efforts to establish fair and clear regulations for the industry. As part of this effort, the SEC recently declared that meme coins like Shiba Inu are not securities. 

Despite this, Shiba Inu has continued to underperform. At the current price of $0.00001327, it is down 10.28% in the past week and has fallen by 60.13% from its December 8 peak of $0.00003329. 

Is Burns the Only Way for SHIB to Hit $0.01?

Nonetheless, some Shiba Inu enthusiasts have remained optimistic about SHIB’s prospects, particularly its potential surge to the $0.01 target. 

For context, reaching the $0.01 target requires Shiba Inu to rise by 75,257% from the current price of $0.00001327. If this happens, Shiba Inu would have a market cap of $5.89 trillion, assuming its supply of 589.5 trillion tokens remains constant.  

The $0.01 prediction has gained popularity within the Shiba Inu community, with members deliberating whether SHIB could ever achieve the milestone. 

While Shiba Inu’s marketing lead, Lucie, believes SHIB’s potential surge to the $0.01 target is more likely to happen, critics emphasize that the prediction is unrealistic. These critics think that Shiba Inu could only reach the $0.01 target if it experiences an aggressive burn that would drastically reduce its supply by a huge margin. 

Another Path to $0.01 

However, some users believe that SHIB’s price could reach the ambitious target if it stays closely correlated with Bitcoin and the premier asset’s value spikes tremendously.

According to data from IntoTheBlock, Shiba Inu’s correlation with Bitcoin stands at 92% over the past 30 days at the time of publication. 

This indicates that Shiba Inu’s value would spike massively whenever the price of Bitcoin soars, and vice versa. Notably, Shiba Inu has a history of outperforming Bitcoin. Therefore, a little surge in Bitcoin’s price could translate to a heavy increase for Shiba Inu, potentially paving the way for SHIB’s surge to the ambitious $0.01 target. 

Bitcoin to Still Maintain Dominance 

This analysis assumes that Shiba Inu’s potential rise to $0.01 would not stop Bitcoin from being the world’s largest cryptocurrency by market cap. As mentioned earlier, Shiba Inu is expected to have a market cap of $5.89 trillion if its price rises to $0.01.

Notably, Bitcoin can only maintain its dominance in the crypto market if its market cap exceeds the $5.89 trillion mark. For instance, at a market cap of $5.89 trillion, each Bitcoin would be worth $296,585, assuming BTC maintains its circulating supply of approximately 19.86 million coins. 

Bitcoin could further solidify its dominance in the crypto market if its valuation doubles that of Shiba Inu when SHIB rises to $0.01. Doubling SHIB’s $5.89 trillion market cap would hypothetically put Bitcoin’s valuation at $11.78 trillion. 

At this valuation, Bitcoin would trade at $593,171 per coin, representing an increase of 516% from the current price of $96,265. 

Despite how enticing this analysis seems, there is no guarantee that Shiba Inu would ever clinch a target price of $0.01 even when Bitcoin’s price increases. Therefore, investors must exercise caution and conduct due diligence before investing in cryptocurrencies.