Shiba Inu has long been coveting the $1 price spot. As long as one can remember, the token has also been vying for the top spot, the biggest price point it can ever dream of, but this development comes with its own set of issues. As the Motley Fool highlights about Shiba Inu, its staggering supply of 589 trillion tokens makes it nearly impossible for SHIB to ever reach $1 or even come close to $0.1 or $0.01. For the token to inch closer to the $1 price point, two key factors must be addressed aggressively. Here’s how the SHIB army can perform a better role in ensuring SHIB’s long-term success.
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How the SHIB Army Can Help Shiba Inu Hit $1 in the Near Future
1. Shibarium Transaction Burns
Shibarium is Shiba Inu’s layer two blockchain, the one that comes with a uniquely embedded SHIB burn mechanism. If the SHIB army continues to build aggressively on Shibarium, either by accelerating on-chain activity (more DApps, NFTs, or DeFi), this will help ensure more SHIB is burned to balance the token supply. Shibarium’s usage has already been rising rapidly, which can help the token claim a new high price in the future.
In addition to this, promoting gas-fee-heavy usages like staking will also help in easing the massive supply chasm of SHIB. In addition to this, encouraging developers to build lucrative DApps on Shib or perhaps using Shibarium more frequently can also bolster the SHIB burn mechanism, thereby reducing the supply of the token. If done religiously, the price of Shiba Inu can surge dramatically, but it needs to be a collective effort for SHIB to spike in the long run. In essence, rapid SHIB adoption is the key to helping SHIB hit $1 in the near future.
2. Community-Powered Burn Campaigns
There’s a reason why Shiba Inu enthusiasts have adoringly been referred to as the SHIB army. The token boasts a loyal fan base. If SHIB enthusiasts continue to conduct periodic community-powered burn campaigns, selling SHIB merch or burning a portion of the proceeds later to help the token stabilize may act like magic in the long run. Moreover, voluntary burn processes can also help in ensuring Shiba Inu’s price hike to $1 sooner rather than later.
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