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News of a whale buying 20 trillion SHIB coins worth over 1 billion dollars is exciting the market. This report first appeared on etherscan and claims the transaction was done on the crypto.com platform.
Most investors see this as a signal of Shiba getting into another bull run soon. For crypto with a 30 billion-dollar market cap, such as transaction is a market mover hence everyone is eager to see what will happen soon.
SHIB Price Movement
SHIB is still trading below a cent. However, even though the price is minimal, it is already one of the best performing coins in the market this year.
What started as a small meme coin with a dog name has experienced tremendous growth this year. This has made it become among the top 10 biggest cryptocurrencies in the market. Recently, it took all the bragging rights after it overtook its rival peer Dogecoin.
The price movement of Shiba remains highly volatile and erratic. Mostly, it does not conform to the normal market rules but is driven more by market sentiments.
Without price stability. Most retail merchants are still yet to adapt its use due to the level of risks involved.
The 1 cent dream
After the recent price rally that saw SHIB hit a new all-time high, investors are turning their focus on pushing the coin to get to at least one cent.
This is the current ongoing campaign with most Shiba fans believing it is possible. Although it will not be easy to get to one cent, the possibilities remain. It requires the network to step up some of its interventions activities such as coin burning.
It will help reduce the number of coins in supply helping grow its value in return. There is an ongoing campaign to accelerate the burning to grow the price faster.
SHIB Listing on Robinhood.
This is another step that could be key in helping SHIB achieve the 1cent dream. There is an ongoing petition which has already gained more than half a million people requesting Robinhood trading platform to list SHIB.
Though it is yet to happen, most people believe such a move could help push the price by up to 1000%. The idea here is to make it easier for people to invest in the coin. Such a possibility will help increase its demand helping push the price.
Robinhood listing will happen inevitably and it could be the next big price trigger.
Future of the Shiba Token
As the crypto industry grows, so will individual tokens such as Shiba. It is still early days for cryptocurrencies as the majority of the global population is yet to understand and use them. As more people join the market, their prices will keep expanding and potentially getting to newer highs.
There are no timelines as to when it could get to the 1 cent price, However, this could happen within the next two years.
The development of innovative technologies supporting the coin such as the NFT shiboshis will also accelerate its price growth.