Shiba Inu: What’s the Endgame for the Shib Army?

Shiba Inu (SHIB), the meme-inspired cryptocurrency, has gained significant attention and investment in recent years, thanks to its impressive early growth and dedicated community. However, the likelihood of the SHIB token ever reaching even $0.01 is remote at best, despite the Shib Army’s efforts to burn tokens at an aggressive pace. 

This article will explore the challenges that the Shiba Inu token faces in reaching this price point, including its lack of utility and use cases, enormous total supply, and highly competitive market. 

While some early investors have become extremely wealthy thanks to the cryptocurrency’s impressive growth, the challenges that the Shiba Inu faces in reaching $0.01 or higher should not be underestimated.

The Challenge of Scaling

One of the major challenges that the Shiba Inu faces is scaling. While the cryptocurrency’s market capitalization has grown significantly, its transaction volume has not kept pace. This lack of scalability could pose a significant challenge to the cryptocurrency’s long-term growth.

Additionally, the Shiba Inu token’s circulating supply of 589 trillion tokens is a significant hurdle to overcome. With so many tokens in circulation, the potential for dilution is significant, which could lead to a decrease in the token’s value over time.

What is The Shib Army?

The Shib Army is a passionate community of investors who are committed to the success of the Shiba Inu coin. The Shib Army has played a significant role in the growth of the cryptocurrency, promoting its use, and creating real-world use cases and partnerships. The community is made up of individuals from all over the world who share a common interest in Shiba Inu and its potential for growth. 

The Shib Army’s Efforts

Despite significant challenges, the Shib Army remains optimistic about the cryptocurrency’s long-term potential. The community’s dedication to creating real-world use cases and partnerships, as well as its commitment to charitable causes, has helped to establish the Shiba Inu token as potentially more than just a speculative asset.

The Shib Army has launched a variety of initiatives, including a decentralized exchange, a platform for NFTs, and a payment gateway, that demonstrates its commitment to creating value beyond mere speculation. 

Additionally, the community’s charitable arm, the Shiba Inu Rescue Association, has helped to generate positive publicity for the Shiba Inu coin and could help to drive adoption and increase its legitimacy. All of this development has raised community hopes that the price of SHIB will rise.

The Shiba Inu Dollar Dream

Shiba Inu investors believe that SHIB has the potential to reach $0.01 or even $1. However, the reality is that reaching even $0.01 is a challenging task for cryptocurrency.

At present, the Shiba Inu coin is trading at around $0.000013, with a market capitalization of around $7.5 billion. For SHIB to reach $0.01, its market capitalization would need to increase by a factor of 1,000. This would require a significant amount of investment and demand for the SHIB token, which is difficult to achieve.

To put this into perspective, Bitcoin, the world’s largest cryptocurrency, has a market capitalization of around $468 billion. Even if the SHIB token were to reach a market capitalization of $46 billion, which is a significant achievement, it would still be only 10% of Bitcoin’s size. 

So, what about burning the SHIB supply to raise the price?

Shiba Inu: The Limits of Burning Tokens

Burning tokens has become a popular strategy among some cryptocurrencies to increase their value and reduce their total supply. However, burning tokens is not a panacea for all the challenges that a cryptocurrency faces. And the impact on its long-term viability can be complex.

Token burns may help to reduce supply and increase the value of a cryptocurrency in the short term. It is not a sustainable strategy for long-term growth. 

Burning tokens does not directly create any additional utility or use cases for the cryptocurrency. Which can also impact its value over the long term.

In the case of the Shiba Inu coin, the burning of 83 billion tokens may have helped to increase the cryptocurrency’s value in the short term. However, it represents just 0.015% of the Shiba Inu market cap. And does not address the long-term challenges that the cryptocurrency faces.

Additionally, the burning of tokens can also harm the long-term viability of a cryptocurrency. If a cryptocurrency burns too many tokens, it can limit the potential for future growth and development.

With an astronomical supply, the SHIB token’s potential for dilution is significant. Which could lead to a decrease in the coin’s value over time.

Furthermore, burning tokens can also limit the potential for innovation and development in a cryptocurrency. If a cryptocurrency burns too many tokens, it can limit the resources available for future development and partnerships.

Final thoughts

Burning tokens may help to generate positive publicity and increase the value of a cryptocurrency in the short term. Yet, it is not a sustainable strategy for long-term growth. 

The SHIB token’s lack of utility and use cases, enormous total supply, and highly competitive market remain significant challenges. These need to be addressed if the cryptocurrency is to establish itself as a viable alternative to traditional financial systems-no matter how strong the Shib Army is.


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Bookmark (0)

Related Posts

‘Withdrawals are coming!’ — Ethereum devs confirm epoch for Shapella fork

Shapella will take effect at epoch 194,048, which is scheduled for 10:27:35pm UTC on April 12.

Bookmark (0)

Time to buy ‘jpegs’? Community responds to upcoming Ethereum withdrawals

While many expressed serious sentiments, a Twitter user poked fun at the update, saying it’s time to spend ETH on nonfungible tokens.

Bookmark (0)

BitKeep completes compensation for $8M APK exploit, announces rebranding

BitKeep Wallet will now be known as Bitget Wallet following a $30 million investment from the namesake crypto derivatives exchange last week.

Bookmark (0)

SEC chief Gary Gensler to face Congress grilling over crypto policy

The chair of the Financial Services Committee said its primary focus would be setting the groundwork for crypto regulations in the United States.

Bookmark (0)

Banking Crisis Is a Wake-Up Call to Buy Bitcoin, Says Tim Draper

The banking crisis of early 2023 has been the largest since the financial meltdown of 2008.
Tim Draper, known for his well-placed investments in Coinbase, Twitch, Hotmail, Tesla, and Coinbase, sees a lesson in the crisis.
“I think the SVB failure was a wake-up call for the people who have been reluctant to buy Bitcoin,” Draper told BeInCrypto.

Bookmark (0)

Layer 2 Solutions for a Scalable Crypto Future

Understanding the scalability challenge facing traditional blockchain networks.
Exploring the benefits and functionality of Layer 2 solutions, such as Bitcoin’s Lightning Network and Ethereum’s Optimistic Rollups.
Learning about the challenges and opportunities for further Layer 2 solutions in the blockchain industry.

Bookmark (0)

Leave a Reply

Your email address will not be published. Required fields are marked *