For much of the existence of the popular and beloved meme coin, the dream of reaching a $0.01 price has been the goal. Now, with the help of one of its most important burners, can Shiba Inu and Koyo Token push SHIB beyond that price point?
The highly-anticipated arrival of Shibarium noted the vital growth of the Shiba Inu ecosystem that was expected for so long. Moreover, with its continued development, the Koyo Token has helped to burn SHIB and propel it alongside the help of both passionate communities.
Koyo Token Burns 6.1 Billion SHIB
Within the digital asset industry, the rising prevalence of meme coins cannot be understated. Specifically, these assets have boasted some of the most passionate communities that the industry has to offer. Now, two of those communities could come together to reach a meme coin price that was once just a dream.
In its quest for a $0.01 price, Shiba Inu has seen some incredible help from one of its biggest burners, Koyo Token. Specifically, the latter burned more than 6.1 billion SHIB in the month of March alone. Yet, what could aid the price more than the 2% Shiba Inu tax burn, is the commitment to continuing the vital burning of SHIB.
Koyo founder, Kintaro, spoke on Shiba Inu, and its continued burning from the token. Kintaro stated, via Crypto Basic, “So expect billions of dollars in volume, expect millions of dollars in rewards, and in turn expect SHIB burns to e in the millions with continuous burns.”
Is $0.01 A Possibility?
The dream of reaching the $0.01 price for SHIB may be a daunting one, but it is certainly possible. Specifically, the current Shiba Inu market cap sits around $6,480,338,680, with a circulating supply of 589,542,816,415,703. Subsequently, to reach a $0.01 price, 99.999% of the SHIB supply would have to burn based on the current price of $0.00001095.
Thus, for that immense burning to be executed requires more than the efforts of just the Koyo token. Conversely, it would require Shibarium to fulfill its full potential and execute the mass amounts of SHIB burning it hopes to.
Moreover, both Koyo and Shibarium are good starting points to eventually propel toward that dream. Consequently, the former has an expectation of generating billions of dollars in volume. Alternatively, Shibarium is set to burn 70% of SHIB generated from transaction fees. Then, showing a more optimistic path toward that coveted $0.01 dream.