Shiba Inu was trading in the indices with seven ‘zeroes’ in April last year and fast-forward to today, it’s trading with just four ‘zeroes’. The token knocked out three ‘zeroes’ from its trade in a year and is looking to delete many more.
In October 2021, SHIB spiked +1,000% in 30-trading days and reached an all-time high of $0.00008616. However, it is now down -71.4% from its ATH. The SHIB community is collectively hoping for the token to breach the $0.01 mark. The phrase ‘1 Cent Dream’ came into existence in the hopes of it reaching the milestone someday sooner or later.
The ‘1 Cent Dream’ is a collective heartbeat of the community who dreams about reaching the milestone every single day. Arguably it’s the only community who are united with the same hopes and dreams of reaching the magic number.
The only thing preventing the token from achieving the ‘1 Cent Dream’ is SHIB’s massive circulating supply. SHIB has a 549 trillion circulating supply and it’s next to impossible for it to reach a market cap where it can breach the $0.01 mark. For SHIB to reach $0.01, it needs to have a market cap bigger than Bitcoin, among others. It’s laughable to say that its market cap will go higher than BTC with its circulating supply of 549 trillion.
So the million-dollar question is, will Shiba Inu reach $0.01 on or before 2030? Well, let us decode the possibilities.
Shiba Inu 2030: Can It Reach $0.01?
To make the ‘1 Cent Dream’ turn into reality, Shiba Inu first and foremost needs massive amounts of burns. Trillions of coins need to be burned every year on a massive scale to remove them from circulation. When there’s scarcity in the market with demand for the token, the price would naturally scale up.
Just recently, SHIB Discord moderator Queenie laid out a hypothetical plan to burn 111 trillion tokens each year. However, her calculations are just a hypothetical estimation and not reality. It may or may not happen. You can read here about Queenie’s hypothetical estimates to burn 111 trillion SHIB tokens each year.
Coming back to the point, Shiba Inu will have a herculean task to breach the 1 Cent mark. The road isn’t easy but it is surely not impossible. As the saying goes, anything is possible in the world of cryptocurrencies.
Shibarium Could Make the ‘1 Cent Dream’ A Reality?
For SHIB to move towards the 1 Cent path, the team needs to make good use of its ecosystem and put it to work. To put it in simple words, the ecosystem should be the main tool to burn tokens on a daily basis.
For example, the upcoming developments such as Shibarium and ShibaSwap 2.0, should be positioned in such a way that a small transaction fee charged to users should be used to burn the tokens.
Shibarium will undoubtedly bring in more new users into the SHIB fold, as it would reduce the burden of gas fees (which is the need of the hour). The small transaction fee, which would then be used to burn SHIB could do wonders for the token in the long run. The number of transactions would be huge and the burn process will naturally pick up steam.
Shibarium could be a 24/7 working mill that constantly burns SHIB along with making investors transact the token at the same time. The development could be a win-win situation for investors and the team as a whole.
If the burn process is correctly put in place by burning trillions each year, there’s a chance for SHIB to breach the $0.01 mark. If not, the ‘1 Cent Dream’ could only remain a dream and could continue even after the next decade and thereafter.