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While aggressive SHIB burns are often seen as the only way for Shiba Inu to reach $0.01, SHIB can still achieve this milestone through other means.

Like most cryptocurrencies, Shiba Inu has underperformed expectations. Due to positive developments in the market, most members of the Shiba Inu community expect the token to trade at levels higher than its current price.

In particular, the U.S. government, under Donald Trump's leadership, supported cryptocurrencies. The government is making efforts to establish fair and clear regulations for this industry. As part of these efforts, the U.S. Securities and Exchange Commission (SEC) recently announced that meme coins like Shiba Inu are not securities.

Despite this, Shiba Inu's performance has continued to decline. At its current price of $0.00001327, it has dropped by 10.28% over the past week and is down 60.13% from its peak of $0.00003329 on December 8.

Is Burns the only way for SHIB to reach $0.01?

However, some Shiba Inu enthusiasts remain optimistic about SHIB's prospects, especially its potential rise to the $0.01 target.

To clarify, reaching the $0.01 target requires a 75,257% increase in the price of Shiba Inu from its current price of $0.00001327. If this occurs, the market value of Shiba Inu would be $5.89 trillion, assuming its supply of 589.5 trillion tokens remains constant.

The expectation of reaching $0.01 has gained significant popularity within the Shiba Inu community, as members debate whether SHIB can achieve this milestone or not.

While Lucy, the marketing officer for Shiba Inu, believes that the potential rise of Shiba Inu to the $0.01 target is likely, critics argue that this expectation is unrealistic. They see that Shiba Inu will only reach the $0.01 target if it experiences a sharp reduction in supply, which would lead to a sharp decrease in availability.

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Another path to $0.01

However, some users believe that the price of SHIB could reach the ambitious target if it remains closely correlated with Bitcoin and the value of the leading asset rises significantly.

According to data from IntoTheBlock, Shiba Inu's correlation with Bitcoin stands at 92% over the past thirty days at the time of publication.

Shiba Inu's relationship with Bitcoin

Shiba Inu's relationship with Bitcoin

This indicates that the value of Shiba Inu will rise significantly whenever the price of Bitcoin rises, and vice versa. Notably, Shiba Inu has a history of outperforming Bitcoin. Thus, a slight increase in the price of Bitcoin could lead to a significant rise in Shiba Inu, potentially paving the way for Shiba Inu to reach its ambitious target of $0.01.

Bitcoin still maintains its dominance

This analysis assumes that a potential rise in the price of Shiba Inu to $0.01 will not prevent Bitcoin from becoming the largest cryptocurrency in the world by market value. As mentioned earlier, Shiba Inu's market value is expected to reach $5.89 trillion if its price rises to $0.01.

It is worth noting that Bitcoin cannot maintain its dominance in the cryptocurrency market unless its market value exceeds $5.89 trillion. For instance, at a market value of $5.89 trillion, each Bitcoin would be valued at $296,585, assuming Bitcoin maintains its circulating supply of approximately 19.86 million coins.

Bitcoin could strengthen its dominance in the cryptocurrency market if its value doubles as the value of Shiba Inu rises to $0.01. Doubling the market value of Shiba Inu, currently at $5.89 trillion, would virtually raise Bitcoin's value to $11.78 trillion.

Based on this assessment, Bitcoin will be traded at $593,171 per coin, representing an increase of 516% from the current price of $96,265.

Despite the appeal of this analysis, there is no guarantee that Shiba Inu will reach a target price of $0.01 even as Bitcoin's price rises. Therefore, investors should exercise caution and conduct due diligence before investing in cryptocurrencies.

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