Shiba Inu Can Reach Ambitious Price Targets Like $0.001 or $0.01 if Its Ecosystem Team Can Implement Specific Initiatives

Several Shiba Inu investors have taken to social media to complain about SHIB's recent performance. Data from CoinMarketCap shows that SHIB has plummeted by 5.4% since the beginning of this year.

Shiba Inu (SHIB) could reach the $0.001 or $0.01 price targets if its ecosystem team implements specific initiatives, including aggressive SHIB burns, widespread adoption of Shibarium, and completion of all Shiba Inu-related projects.

Hitting the $0.001 target requires a surge of 4,880% from the current SHIB price. Several experts believe this milestone can be achieved.

For instance, in October, popular market observer Crypto Sheriff predicted that SHIB could clinch the $0.001 target following the identification of a price breakout in the asset’s 4-hour timeframe. Similarly, another crypto expert, LuckSide, noted that factors like increased whale activity and declining retail interests are preparing SHIB for a significant rally that could take its price to $0.001.

On the other hand, reaching the highly anticipated one-cent ($0.01) dream requires SHIB to surge 49,700% from the current price. At $0.01, Shiba Inu’s market cap will stand at $5.89 trillion.

Interestingly, Luis Delgado (popularly referred to as Del Crxpto) suggested that Shiba Inu could hit the one-cent dream in its lifetime. The Shiba Inu marketing lead, Lucie, echoed the same sentiment, asserting that the $0.01 target could become a reality for SHIB someday.

While Shiba Inu has witnessed significant price surges in the past, hitting the $0.001 and $0.01 targets could be challenging due to SHIB’s hefty circulating supply. However, three major factors could drive SHIB to these price milestones.

1. SHIB Burns

For Shiba Inu to rise to $0.001 or $0.01 targets, it must drastically reduce its circulating supply through aggressive burns. Currently, Shiba Inu has a circulating supply of 589.25 trillion. Incinerating a huge chunk of a token’s supply is one major way to boost its price.

Although Shiba Inu has already rolled out several burn initiatives, like Shibarium-powered burn, there is still a need to amplify these efforts so that SHIB has a chance to hit these $0.001 and $0.01 targets.

The ecosystem can introduce more community-driven burn campaigns and partnerships that support SHIB incineration.

2. Increased Adoption of Shibarium

Shibarium, Shiba Inu’s Layer-2 blockchain, has a major role to play in helping the $0.001 and $0.01 targets become a reality.

For this to happen, Shibarium must witness significant adoption, similar to what is obtainable on blockchains like Ethereum and Solana. These blockchains have attracted developers, leading to the launch of popular decentralized applications (dApps).

Shibarium, on the other hand, has lagged in adoption compared to Solana and Ethereum. This comes despite the fact that it offers cheap and fast transactions, making it the ideal blockchain for non-fungible tokens and other decentralized finance (DeFi) projects.

Therefore, the team behind the Shiba Inu ecosystem must make significant efforts to lure developers to Shibarium, potentially exposing more crypto enthusiasts to ecosystem tokens like SHIB. As more projects launch on Shibarium, the network’s transaction volume could increase, leading to more tokens being burned from SHIB’s circulating supply.

3. Completion of Shiba Inu Ecosystem Projects

Shiba Inu has several ambitious projects that could enhance the overall adoption of SHIB and drive its price to jaw-dropping targets like $0.001 or $0.01.

However, most of these projects, such as SHIB: The Metaverse, Shiba Eternity, and SHIB Marketplace, are not fully operational. Although some have been completed, including ShibaSwap, others are undergoing testing or are still in development.

If the team completes all projects within its ecosystem, it could attract new users who would adopt SHIB, potentially boosting its price to $0.001 or $0.01.