Does the shiba inu coin have the potential to hit the one cent mark? - The Comprehensive Minds

Does the shiba inu coin have the potential to hit the one cent mark?


Is it possible for Shiba to hit one cent? 


shiba inu coin price prediction

Nowadays everyone is so bullish on Shiba Inu and today one Shiba Inu token is worth fractions of one cent. So if you buy 10 million Shiba tokens it will cost you only $80. But does 80 worth of Shiba have the potential to make you a millionaire? What are the major upcoming catalysts that can boost Shiba's price to one cent? These questions will be answered today. 


 

Everyone thought that Shiba Inu is now a dead coin but after the major listing on Coinbase and Binance, Shiba Inu has shown tremendous growth of more than 35 percent in just 24 hours. Active developer community and social hype kept the coin alive. 


It is interesting to note that Shiba Inu is still ranking as the number one trending coin on the coin market cap. Many Shiba holders sold their coins after taking enough profit but still many of us are holding millions of tokens and expecting shib token price to hit the one-cent mark. But the question arises is it possible for shib to hit one cent. 


Consider this scenario if you want to buy 10 million Shiba Inu coins now it will cost you around 80 dollars. As the crypto market is recovering in Shiba Inu showing exponential growth with few upcoming catalysts if the price hits even one cent then you will wake up being a millionaire. Impressive right but does the Shiba Inu coin have the potential to hit the one-cent mark? 


Let’s discuss some major factors and positive catalysts that can help this meme coin to hit one cent. To understand this all we need to understand the history and existence of shiba inu. Shiba inu is also known as Shiba token is a decentralized cryptocurrency founded by an unknown person known only as Ryoshi in august 2020. 


Shiba Inu is a Dogecoin-based ERC20 token on the ethereum blockchain that bills itself as the Dogecoin killer. Shiba inu was originally created as a joke token but now is exhibiting a positive momentum in the crypto market. 


Even though other big altcoins are plummeting shiba has attracted a lot of attention and has become a popular investment option due to its hike in performance and price movement. 


The ERC 20 based shiba inu will certainly be a very good investment for those who have been with the coins since it was listed. Branded as the Dogecoin killer this cryptocurrency aims at jumping over Dogecoin without even crossing the one-dollar mark. 


However, in the manner in which it has been developing this aim seems to be a very small goal for them. As we all know shiba inu came up with over one quadrillion tokens which were considered to be a very bad choice for the growth of a cryptocurrency. 


With such a huge supply it was presumed that the coin would not be able to reach the higher price brackets as it was no longer a rare product, unlike bitcoin that has a very limited supply. 


After creating almost four quadrillion tokens Ryoshi did something unexpected which helped shib garner much popularity. A huge portion of the total supply was gifted to their benefactor vitalik Buterin which was then used by him for various purposes. 


The shiba inu has become the cryptocurrency market’s flavor of the season attracting a lot of attention and establishing itself as a popular choice among investors particularly in the wake of a bear market in cryptos like bitcoin and ethereum. It is quite interesting to note that Shiba inu has crossed over 670 000 active holders count which is huge for a meme coin. 


Everyone is familiar with how shiba inu made hundreds of millionaires overnight in the first quarter of 2021. If you missed out on that then this could be the next opportunity. You must have heard that Shiba Coin can never hit one cent due to its large token supply and it is true but what if this supply can be controlled? 


That is what exactly is going to happen soon for now even the whole world’s economy cannot help shiba inu to hit the one-cent price mark due to its one quadrillion massive token supply. 



So what exactly is this token burn is? 


Token burn is a process of sending the token to a dead wallet address so that no one can use it in order to kick that out of the circulating supply. 


As we all know price depends on supply and demand; if we decrease the supply-demand will increase and so the price-burning tokens or removing them from circulating supply will create coin or token scarcity which will further help shiba inu to gain price hike. 


But when and how this burn will happen? 


Shiba Inu’s anonymous developers declared on august 7th that they have started a coin burn to restrict the quantity of shib in response to a community request. Digital coin fires obliterate coins from circulation decreasing the rate of inflation. 


Shib developers purlin and Ryoshi introduced two new trading pools to the Shiba swap decentralized coin exchange and burned twenty-five thousand dollars in both shib and leash coins. The developers have built an ecosystem around the shiba inu coin creating tokens like leash and bone. 


Shiba swap which runs on the ethereum blockchain went live on July 6th. By burning coins to lower the supply in circulation the price has the potential to rise even further. This choice made by shiba inu developers to eliminate a portion of the token’s inventory from circulation with an end goal to re-establish some enthusiasm for this crypto had some constructive outcomes on shiba inu. That was the point at which sentiment changed for meme coins. 


This automatic burn will surely act as a positive catalyst to the price hike of shiba inu as it is helping to reduce shib token supply The question now is whether shiba inu coin is a good investment. Well investing in shiba inu coin is a viable option as investing in shiv has already been shown to be one of the best decisions many people have ever made. 


Shib was nearly worthless at the beginning of august 2020 and until March 2021. $ 100 could buy you more than 100 million shiba inu coins at that time. Shiba has turned a few people into millionaires in just three months and others have made tens of thousands of dollars in a short amount of time with their little investments. 


So if you had put any money into shiba, before April 2021 you would have had a return of more than ten thousand percent. So shiba inu coin is a good buy because of the future it offers. It can be regarded as a solid investment when it is selling at a considerably lower price than most cryptocurrencies. 


If you are interested in investing in Shiba, now could be an excellent time to get started. Further investing one-time meal money in shiba is still worth taking the risk on. No one knows with few listings on major crypto exchanges and some celebrity support, shiba can easily hit one cent mark.  



Disclaimer: The information provided in this article does not constitute investment advice, financial advice, trading advice, or any other sort of advice, and you should not treat any of the content as such. The content in this article is for educational purposes only and hence should not be considered as financial advice. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

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