Why The Shiba Inu Price Cannot Realistically Get To $0.001

Why The Shiba Inu Price Cannot Realistically Get To $0.001

In the last crypto bull market spanning from 2020-2021, the price of Shiba Inu ran as high as $0.00008. Due to the high euphoria at the time, expectations rose rapidly around the meme coin, leading to calls for SHIB at $0.001. However, this target remains as unrealistic today as it was back then and this report dives into the reason why.

Not Enough Of SHIB Supply Is Being Burned

The Shiba Inu community officially kicked off its burning initiative back in 2022 which SHIB tokens being sent to dead addresses weekly. However, despite being roughly a year in the making, the total number of SHIB tokens burned so far has been next to negligible in the grand scheme of things.

Shibburn, a Shiba Inu burn

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