Lola, a prominent figure in the Shiba Inu community, recently shared 15 factors that strengthen her positive outlook on the SHIB’s potential. While acknowledging potential challenges, Lola’s analysis suggests that strategic developments, growing adoption, and inherent token characteristics could support SHIB’s continued growth.
Shiba Inu’s Growth Potential: 15 Reasons to Be Bullish
Hong Kong & Regulatory Landscape: “Hong Kong is the main Asian financial hub that listed SHIB as an accepted legal Digital Asset… They are now working on a BITCOINETF and if that passes, we will have a gigantic demand for CRYPTO,” Lola argues. A Bitcoin spot ETF approval could propel Hong Kong to the forefront of the digital asset industry.
Read Also: We Asked ChatGPT If SHIB Could Hit $0.00001 In 2023, Here’s What It Said
Robinhood Listing and Institutional Interest: Lola pointed out that Robinhood holds 20 Trillion SHIB and was backed by Vanguard, Fidelity, Blackrock Citadel, etc. We earlier reported that Robinhood, the American financial services company, expanded its cryptocurrency holdings with the addition of 140 billion SHIB tokens. This substantial purchase positions the popular meme coin as the third-largest crypto asset in Robinhood’s portfolio suggesting institutional recognition of SHIB’s viability. The pundit noted that Robinhood’s current support for 15 tokens, including Shiba Inu, highlights the platform’s selective approach amidst the vast landscape of over 20,000 cryptocurrencies. According to Lola, this strategy demonstrates Robinhood’s focus on assets with established value rather than those susceptible to ‘pump-and-dump’ schemes.
SEC Considerations: Lola states, “SHIB passed all the Howey Principles.” While open to legal interpretation, avoiding classification as a security under U.S. law potentially minimizes regulatory hurdles for SHIB compared to some other cryptocurrencies.
Decentralization and Technical Foundation: Lola emphasizes SHIB’s decentralized nature and compatibility with Ethereum-based technologies: “SHIB is 100% decentralized on the ETH platform and is fully supported by multi-blockchain technology…” This positions the token to benefit from ongoing innovation within the Ethereum ecosystem.
Accessibility & Exchange Listings: “Accessibility, Availability and Global Reach as SHIB is listed on more than 90 known CEX and more DEX,” Lola notes. Widespread availability on exchanges lowers the barrier to entry for potential investors.
Adoption as Payment: Lola highlights, “Global ADOPTION by CEX as they added SHIB as an alternative currency to use for their Visa and MasterCard.” Integration with widely used payment networks expands SHIB’s utility in real-world transactions.
Founder Anonymity: Lola sees similarities with Bitcoin’s creation story in that: “RYOSHI created Shiba Inu just like Satoshi Nakamoto created BITCOIN for the community.” However, the benefits of a pseudonymous founder remain a point of debate within the cryptocurrency space.
Circulating Supply: Lola emphasizes that having all tokens in circulation reduces the potential for price manipulation: “All SHIB tokens are circulating… A token with high 100% circulating retail supplies is harder to control.”
Bitcoin Correlation & ETF Potential: “Shib follows a huge portion of Bitcoin’s algorithm… We are all anticipating the ETH ETF,” Lola remarks. Shiba Inu’s potential to move in tandem with broader market trends adds an element of speculation.
Community Strength: Lola calls the SHIB Army the token’s “superpower,” pointing out the importance of a dedicated community in promoting adoption.
Market Capitalization Potential: Currently at a $20 billion valuation, Lola notes SHIB remains at less than half of its all-time high market capitalization, suggesting room for further price appreciation.
Deflationary Measures: Lola believes Shiba Inu’s deflationary nature is another compelling reason to invest. This built-in mechanism combats inflation through ongoing burn initiatives, global demand, and high trading volume. Since its launch in August 2020, a staggering 410.72 trillion SHIB tokens have been permanently removed from circulation, as shown by data from Shibburn.
Retail Focus: Lola believes SHIB’s affordability allows it to fulfill the role of a digital currency.
Security: Lola views SHIB’s built-in security features, stemming from its ERC-20 token standard, as advantageous when attracting larger investors.
Interoperability: Lola describes SHIB as “AGNOSTIC AND INTEROPERABLE,” suggesting the potential for integration across various blockchain platforms as a strength.
Read Also: If History Repeats, Shiba Inu (SHIB) Could Surge 2,168% in One Week
Road to $0.01
Amid Lola’s insights, Shiba Inu’s recent uptrend has sparked renewed hope that it will reach the coveted $0.01 (1-cent) price mark, a sentiment echoed not just by Shib’s marketing lead Lucie, but by Changelly, Telegaon, and a few others.
However, there’s a significant challenge: the sheer size of Shiba Inu’s token supply (currently at 589 trillion). While token burns are happening daily, it’s crucial to remember that the path to $0.01 is still a long one, even with efforts like Lola’s to boost investor confidence.
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