Shiba Inu Investors See $0.01 in the Rear View Mirror, Here’s Why

Vinod Dsouza
shiba inu $0.01 1 cent dream
Source: Pixabay

World’s leading exchange Robinhood listed Shiba Inu on its platform this Tuesday along with three other cryptos Solana, Polygon, and Compound. SHIB spiked +35% after the listing went live and displayed extreme bullish sentiments the whole day. However, Bitcoin slipped under $40,000 on Wednesday dragging all coins down along with it. Shiba Inu dipped to -5% just a day after the listing and failed to sustain the hype.

Its price traded in the negative the whole day and is now trading in red for two days straight. Despite not shooting up in price after Robinhood listing as previously expected, investors still believe that the token is on the right path to breaching the $0.01 mark.

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Why Shiba Inu Investors Believe $0.01 Can Be Achieved

Shiba Inu investors not just ‘blindly’, but also ‘firmly’ believe that the token will eventually cross the $0.01 mark. But what makes them so confident in their belief, you may ask? Well, here’s the answer.

SHIB investors are notorious when it comes to two important things, and that is ‘believing and achieving’. As the saying goes “faith can move mountains”, the community took the phrase quite literally.

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The community believed for a whole year that Robinhood will list Shiba Inu and stood by that belief come hell or high water. Even after top Robinhood executives publicly stated that they won’t list SHIB (back then), the community still believed that a listing is imminent.

Months later, the exchange got SHIB onboard and opened trading to its 23 million users. It’s the only community in the crypto market that sets a target and won’t budge until the goal is achieved. Many times, even rhyme and reasoning take a backseat and only ‘belief’ towards reaching the goal remains the centerpiece in achieving that goal.

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The same is now with the $0.01 milestone. Investors believe both ‘firmly and blindly’ that SHIB will achieve the 1 Cent Dream and make it a reality sooner or later. The belief is backed by the fact that the upcoming Shibarium layer-2 network can help its price sustainably scale up.

The devs announced they’re working on a ‘burn portal’ and could integrate the mechanism to ‘burn’ tokens within Shibarium. A transaction fee could be charged for users who transact in Shibarium and that could be used to ‘burn’ tokens. A steady in-house burn mechanism will move massive amounts of tokens to a dead wallet and remove it from circulation.

All these factors make SHIB investors believe that reaching $0.01 is not impossible.