Could $SHIB Hit $0.01?
Now that Shiba Inu has witnessed periodic burns from community members, ecosystem projects, and Shibarium, market watchers expect it to perform even better. Recall that Shiba Inu developers burned a whopping 13.4 billion SHIB last week.
For now, the Shibarium burns are manual, requiring a minimum of $25,000 accumulated in BONE to trigger a manual burn. With the network allocating 70% of its base transaction fees to burn Shiba Inu, more transactions would result in more burns. However, the ecosystem team already plans to automate the burn process. This would ensure that the network automatically executes burns when the necessary conditions are met.
As these burns continue to pile up, with sufficient contributions from Shibarium, discussions around the $0.01 price goal have resurfaced. For context, SHIB would need to rally 30,688% from its current price of $0.00003248 to reach the $0.01 price.
Components now believe this 30,688% surge in this bull run could be possible, considering Shiba Inu surged 27,53% in the previous bull run without any burns. However, the asset’s supply is its biggest hindrance, as the $0.01 price would lead to a $5.8 trillion at the 589 trillion circulating supply.
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