Amid the all-encompassing crypto market declines, Shiba Inu seemed to struggle to remain afloat despite the recent Shibarium launch that was poised to be a game changer in the Shiba Inu ecosystem.
The prevailing market condition appears set to persist longer than usual. This has made crypto investors, especially SHIB enthusiasts, doubt the authenticity of a $0.01 price target for the crypto asset.
However, while the above factors seemed to hover around Shiba Inu’s future, TimesTabloid has thought it wise to look into five factors that could skyrocket the asset’s value to $0.01.
Innovations In Shiba Inu’s Blockchain To Tackle SHIB Massive Supply
The inventions in Shiba Inu have proven effective and aimed towards tackling prevalent Shiba Inu problems. Among Shiba Inu’s main issues, its massive supply remains a monumental concern.
Although the platform has been working to offset its enormous token supply, more effort is required to attain a reasonable burn rate that can exceptionally aid SHIB price growth.
Although the launch of Shibarium saw about 357 million SHIB tokens removed permanently from the supply within a few hours, this is clearly not enough considering the whopping SHIB circulating supply.
Should the Shibarium influence spikes the burn rate, then the issue of massive supply could be tending toward resolution.
Partnerships In The Shiba Inu Ecosystem
Recently, Shiba Inu appears to be scoring partnerships with significant firms. Among many partnerships sealed by Shiba Inu was its collaboration with Exo Viewer, which shows non-fungible tokens (NFTs) in the 3D realm.
Another significant partnership that graced the Shiba Inu ecosystem was its partnership with John Richmond, an English fashion designer based in Italy.
As earlier reported, Shytoshi Kusama, the Shiba Inu lead developer, hinted at potential upcoming partnerships for the Shiba Inu ecosystem.
Per Kusama, one of the three integrations would involve dry ink, the second would gear toward technology, and the third would call for celebration.
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Soaring Shiba Inu (SHIB) Adoption
With each passing day, Shiba Inu’s attractive use cases and overall ecosystem appear to attract platforms to adopt SHIB as a dependable payment option.
Following Shiba Inu’s earlier reported partnership with Binance Pay and Lyzi, the digital asset joined the list of crypto payment options accepted by over 440 merchants across Europe.
In another previous report, TimesTabloid revealed Shiba Inu’s collaboration with XcelTrip, a decentralized hotel and flight booking platform. The partnership implies that SHIB can now be used to make reservations for about 2.3 million hotels and more than 450 airlines.
Meanwhile, Global restaurant software provider Lavu’s partnership with Verifone, a top FinTech payments solution provider has made it possible for Shiba Inu’s adoption in making payments for over 1000 restaurants spread around almost 70 nations.
SHIB Bullish Sentiments From Top Crypto Experts
Per multiple reports on Shiba Inu price projections, several expert analysts have shared bullish sentiments about the coin.
The most talked about price targets are $0.01 and $0.001. Both price targets, if actualized, could mean a lot for SHIB investors.
Based on SHIB’s current price of $0.00000831, a surge to $0.01 would imply more than a 120,000% increase. On the other hand, a spike to the $0.001 price mark would mean an increase of about 12,000%.
A Major Talking Point
Following recent happenings in the Shiba Inu ecosystem, especially the Shibarium launch, whales’ actions, and other significant occurrences, Shiba Inu seemed to grow in prominence.
The crypto asset has become an intriguing topic for discussion among crypto enthusiasts. This would likely induce curiosity that would propel the drive for a better understanding of Shiba Inu by ignorant crypto users.
At the time of writing, Shiba Inu’s market cap was worth $4,897,029,932, according to the latest data from CoinGecko. The crypto asset still boasts a circulating pool of over 589 Trillion SHIB.
Finally, readers should ensure adequate research before delving into crypto trading. In that light, this piece should not stand as financial advice.
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