"There is still a long way to go for SHIB, when do you think the price will reach $0.01?"
After many investors questioned its potential, a prominent member of the Shiba Inu (SHIB) community shared three aspects that will push the price of the second largest memecoin to break $0.01.
The first aspect that could push SHIB's price to the $0.01 level is mass adoption, where the memecoin ecosystem has recently been working to collaborate with various parties.
It is well known that the concept of mass adoption for a crypto is difficult, but SHIB is doing its best to cooperate with Binance Pay and develop Shibarium to further develop its ecosystem.
In addition, staking and liquidity is one of the aspects that can increase the price of SHIB but it should be remembered that burning is the most important aspect in the growth and acceptance of the memecoin.
Although the burn rate is a factor that needs to be emphasized in any upward price movement, it is often a point of contention among investors.
However, SHIB's burn rate saw a 35,500% hike on April 7, 2023 following Shibarium's functionality and burn mechanism, so the price of the memecoin may surpass $0.01 in the future.
As of this writing, SHIB price is up around 0.86% at $0.000010 in the last 24 hours with a trading volume of $122 million and gained 1.78% over the last week.
