How can Shiba Inu (SHIB) reach $0.001?
One of the most important barriers to SHIB prices is the huge supply. There are currently approximately 589 trillion SHIB tokens in circulation. If the price of each coin reaches 0.001 USD, the project's market capitalization will reach an unrealistically large number. Therefore, the SHIB team needs to reduce the token supply before aiming for a higher price.
Rumor has it that the team is working on a new burning mechanism , which is rumored to burn trillions of tokens per year. If the group can significantly reduce SHIB's supply, the asset is likely to appreciate further.
The second thing that could take Shiba Inu (SHIB) to $0.001 is more development on Shibarium, the project's layer 2 network. If more applications are built on Shibarium, it will lead to more demand for SHIB and thus an increase in price.
The third development would take Shiba Inu (SHIB) to $0.001 as the overall market environment is positive. SHIB hit an all-time high in 2021 as the crypto market was experiencing its most bullish phase. Most top assets hit all-time highs in 2021. A similar situation will help SHIB achieve its price target significantly.