Shiba Inu is currently trading at $0.000008844 and is down nearly 2% in the last 24 hours. SHIB is moving further away from deleting its fifth zero as the token is struggling to climb in the indices. The latest price dip is testing the patience of investors as the majority of Shiba Inu investors want the token to reach $0.01.
The Shibarium layer-2 solution is the only option available that could send Shiba Inu toward the $0.01 path. In this article, we will explain whether Shibarium can still send SHIB to reach the 1-Cent milestone.
Shiba Inu: Shibarium’s Role For SHIB To Reach the $0.01 Milestone
We can still hope for Shibarium to send Shiba Inu towards the $0.01 path. However, it comes with a catch which is to burn trillions of SHIB tokens every year. Shibarium can only burn more SHIB tokens if the network is brimming with activities. Therefore, the more activity is engaged on Shibarium, the more fees it will collect for initiating transactions.
This will help Shibarium collect a large number of fees if the network is used by millions of investors. The move will lead to bigger SHIB burns as the fees will be used to send tokens to the dead wallet. There is still a chance for Shibarium to correct course and initiate a process to burn trillions of tokens each year.
If that happens, then Shibarium can indeed send SHIB toward the $0.01 path. However, if it fails to burn trillions of tokens each year, then the 1-Cent dream could only be a myth.
The thread that’s stopping SHIB from hitting the $0.01 mark is the 549 trillion tokens that are in circulation. If the tokens are burned and sent to the dead wallet, not just $0.01, the sky will be the limit for SHIB.