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The 1 Cent Shiba Dream Remains a Reality

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After the latest Shiba price jump, investors have set their eyes on the next big milestone. Taking the coin to at least $0.01. In the market, it is referred to as the 1 cent Shiba dream.

This though will not be a walk in the park to achieve. It requires continuous investment in the coin to give it more utilization, increase the coin investors, and more importantly gain regulatory support.

So far, SHIB has been a big success. within one year of its creation, the price has risen tremendously to the current value of $0.00006. This has seen Shiba become among the top 10 largest cryptocurrencies in the market.

Some of the factors below are necessary for pushing SHIB to 1 cent;

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Increase in transactional partnerships

The purpose of coins such as SHIB is to have them become transactional on a peer-to-peer level. This helps make the coin a mainstream currency that is acceptable.

To achieve this, developers need to build more partnerships that could enable increase its utilization. We have already seen this happen to bitcoin in El Salvador after the country legalized its use. This is the next phase in the growth of cryptocurrencies.

Most of the coins are shifting from being investment assets to becoming transactional. In doing this, the coin will achieve its fundamental role of offering an alternative option to the centralized fiat money.

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Development of Its NFT solutions

Shiba network recently released its first NFT assets known as SHIBOSHIS. This is a list of 10,000 digital assets that are tradeable in the Shiba digital market.

NFTS is the latest hot asset created through blockchain. Though they are relatively new, the market has the potential of exploding in the future.

As more people embrace them, the value of the Shiba coin will grow due to demand in the transactions. Competing coins are also doing the same and hence the need for the coin to accelerate their development.

Coin Burning strategy.

Shiba is embarking on a coin-burning strategy to ensure there are fewer coins in circulation. This is a tactic to give the remaining coins higher value. After its launch, at least 41 % of all SHIB coins were put in a dead wallet hence they are no longer circulating.

Coin burning is not unique to SHIB as other coins are doing the same as well. The reduction of coins in circulation has a big impact on the price.

Investors are yet not satisfied with the amount of burning that is taking place and want the process accelerated.

Any news of a massive coin burn has the potential of triggering the market to a bull run as it happened in the last rally. Hence, this is one of the ways to achieve the 1 cent dream.

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Future of SHIB price.

The price of SHIB is currently in consolidation with no major moves happening. However, from experience, the coin movement is known to jump in price many times over in a very short period.

There are expectations that if these factors are sustained. The I cent dream could be getting nearer by the day. Hopefully, this will be realized soon.

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