These are the Catalysts that Could Launch Shiba Inu to $0.001 – The Crypto Basic
The Shiba Inu community continues to champion the narrative of a $0.001 price point for the asset, but this goal would be unfeasible without these catalysts.
Shiba Inu (SHIB) remains in the clutches of the bears, much like most cryptocurrencies. However, the asset has its eyes set on the ultimate goal of $0.001 which would mark a 11,173% increase from its current price of $0.0000887. While this seems like a long shot, the Shiba Inu community believes it is feasible.
Nonetheless, an assets price movement is not anchored on belief, but its tokenomics and the laws of economics. Consequently, Shiba Inus $0.001 price goal is contingent on two catalysts: burns and utility.
An assets supply is one of the major factors that determine its value. For Shiba Inu to hit a price of $0.001, its supply needs to reduce drastically. At the current circulating supply of 574.2 trillion, if Shiba Inu were to hit $0.001, its market cap would surge to $574.2 billion. For context, Bitcoin, the largest crypto asset, has a market cap of $518.4 billion.
Such a surge would make SHIB the biggest asset by market cap. The chances of this happening in the foreseeable future are rather low. A solution to the assets supply problem is token burns. SHIB would not have attained its all-time high if not for the 410 trillion token burn carried out by Vitalik Buterin in May 2021.
The Shiba Inu community remains committed to the projects burn campaign, but the current burn rate is unlikely to make a dent on its extensive supply. One of the largest cumulative intraday burns involved 2.25 billion SHIB in 24 hours on May 3. Even if the community incinerates 2.25 billion tokens every day, it would take 90 years to take out 74 trillion SHIB.
Besides burns, an assets utility can help with its price action. Utility refers to the usefulness of an asset beyond its ability to be bought, sold, and traded on an exchange. When an asset is leveraged for its real-world utility, like being used as payment for goods and services, it can help bolster adoption by attracting demand.
Shiba Inu already has utility beyond its speculative value. The asset has been adopted by numerous platforms as a payment method. Its integration in Binance Pay also helps introduce it to multiple e-commerce stores and merchants. However, the community seeks more.
It has been established that Shiba Inu would need to increase its burn rate and attract more utility to get a shot at hitting $0.001. This target is achievable with the introduction of several projects in the ecosystem, including Shibarium and SHIB: The Metaverse.
Shibarium is expected to introduce more utility to the Shiba Inu ecosystem by attracting projects all the while increasing its burn rate by incinerating SHIB with 70% of every base transaction fee. The Metaverse project is also expected to bring up more utility for Shiba Inu and further accelerate adoption.
Conclusively, a $0.001 price target might look difficult for SHIB to attain, but it is not impossible. The asset surged by over 142,000% from a value of $0.0000000605 in March 2021 to its ATH of $0.00008616 in October 2021. This surge was supported by the 410 trillion token burn. An 11,275% increase in the event of subsequent burns is feasible.
Follow Us on Twitter and Facebook.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
Visit link:
These are the Catalysts that Could Launch Shiba Inu to $0.001 - The Crypto Basic
- Vitalik Buterin Proposes Replacing Ethereums EVM With RISC-V - CoinDesk - April 27th, 2025 [April 27th, 2025]
- Ethereum Foundation pivots focus to L1 scaling, frees Vitalik Buterin for research innovation - CryptoSlate - April 27th, 2025 [April 27th, 2025]
- Ethereum May Replace EVM With RISC-V, Says Vitalik Buterin - CoinMarketCap - April 27th, 2025 [April 27th, 2025]
- Vitalik Buterin's Meeting with SEC Chair Paul Atkins: Implications for Ethereum Traders - Blockchain News - April 27th, 2025 [April 27th, 2025]
- Vitalik Buterin Proposes Ethereum EVM Overhaul with RISC-V Integration - tokenpost.com - April 27th, 2025 [April 27th, 2025]
- Ethereum Price Forecast: ETH tackles $1,688 resistance as Vitalik Buterin proposes swapping the EVM for RISC-V - FXStreet - April 27th, 2025 [April 27th, 2025]
- New Vitalik Buterin documentary could have been so much more - dlnews.com - April 27th, 2025 [April 27th, 2025]
- Vitalik Buterin Proposes Replacing EVM With RISC-V for Ethereum's Execution Layer - Bitcoin.com News - April 27th, 2025 [April 27th, 2025]
- Vitalik Buterin explores sunsetting the EVM in favor of a simpler Ethereum execution model - CryptoSlate - April 27th, 2025 [April 27th, 2025]
- Vitalik Buterin's Post-Leadership Role at Ethereum Foundation Unveiled - TradingView - April 27th, 2025 [April 27th, 2025]
- Vitalik Buterin's proposal to replace Ethereum's EVM with RISC-V for enhanced scalability and efficiency - Bybit Learn - April 27th, 2025 [April 27th, 2025]
- Vitalik Buterin Suggests Major Overhaul To Improve Ethereum's Network Efficiency As Transaction Fees Plunge To 5-Year Lows - Benzinga - April 27th, 2025 [April 27th, 2025]
- Dohrnii price tanks 50% as Vitalik Buterin dumps free-received tokens via Uniswap - crypto.news - March 20th, 2025 [March 20th, 2025]
- Vitalik Buterin's Recent Transactions: Minting DAI and Selling Meme Tokens - Blockchain.News - March 20th, 2025 [March 20th, 2025]
- Vitalik Buterin Calls Charges Against Bitcoin OG Roger Ver Absurd and Something To Stand Against - The Daily Hodl - March 3rd, 2025 [March 3rd, 2025]
- Vitalik Buterin calls for wallet solutions to address crypto loss, not just theft - crypto.news - March 3rd, 2025 [March 3rd, 2025]
- Vitalik Buterin Demands The Release Of "Bitcoin Jesus"! - Cointribune EN - March 3rd, 2025 [March 3rd, 2025]
- Why Did Shiba Inu Send Half of Its Tokens to Vitalik Buterin? The Story Behind the Move - Binance - March 3rd, 2025 [March 3rd, 2025]
- Vitalik Buterin Joins The Movement To Liberate Cryptocurrency Advocate Roger Ver - MENAFN.COM - March 3rd, 2025 [March 3rd, 2025]
- Vitalik Buterin Joins The Movement To Support Crypto Advocate Roger Ver's Freedom - MENAFN.COM - March 3rd, 2025 [March 3rd, 2025]
- Vitalik Buterin and EF Researchers Address Challenges: Highlights from Ethereums AMA - CryptoDaily - March 3rd, 2025 [March 3rd, 2025]
- Vitalik Buterin suggests 10X increase in Ethereum gas limit to support L2 growth and censorship resistance - CryptoSlate - February 16th, 2025 [February 16th, 2025]
- Vitalik Buterin Praises Railgun After the zkLend Attack A Step Forward in Protecting Privacy Transactions - Binance - February 14th, 2025 [February 14th, 2025]
- Ethereum Cofounder Vitalik Buterin Reveals Bitter Truth About AI and ChatGPT - U.Today - February 12th, 2025 [February 12th, 2025]
- Ethereum Co-Founder Vitalik Buterin Reveals Bitter Truth About AI and ChatGPT - U.Today - February 12th, 2025 [February 12th, 2025]
- Vitalik Buterin Suggests Apple Withdraw from UK to Maintain Encryption - Blockchain.News - February 12th, 2025 [February 12th, 2025]
- Vitalik Buterin Projects Ethereum Pectra Upgrade In March Heres More - ZyCrypto - February 5th, 2025 [February 5th, 2025]
- Vitalik Buterin Reveals Bitcoin Holds Less Than 10% of His Portfolio - Coinpedia Fintech News - February 5th, 2025 [February 5th, 2025]
- Ethereum L1 Scaling Developments Highlighted by Vitalik Buterin - Blockchain.News - February 5th, 2025 [February 5th, 2025]
- Vitalik Buterin Rejects Bitcoin Allocation Rule, Stays Committed to Ethereum - CryptoPotato - February 5th, 2025 [February 5th, 2025]
- I Turned a $12,500 Investment in DOGE into $4.3M, Vitalik Buterin Says - CoinMarketCap - February 5th, 2025 [February 5th, 2025]
- Ethereum Foundation undergoes leadership restructuring, targeting enhanced technical expertise and ecosystem communication: Vitalik Buterin - Crypto... - January 19th, 2025 [January 19th, 2025]
- Vitalik Buterin Says Sony's Controversial L2 Shows Why Ethereum Is Great for Business - Decrypt - January 19th, 2025 [January 19th, 2025]
- Vitalik Buterin announces big changes to Ethereum Foundation leadership - MSN - January 19th, 2025 [January 19th, 2025]
- Paul CHAN Mo-po, Vitalik Buterin Among the Top Speakers at Hong Kong Web3 Festival 2025 Press release Bitcoin News - Bitcoin.com News - January 19th, 2025 [January 19th, 2025]
- Sonys Soneium Shakes Ethereum L2: Why Vitalik Buterin Thinks Its a Win - The Coin Republic - January 19th, 2025 [January 19th, 2025]
- Changpeng Zhao and Vitalik Buterin Focus on 'DeSci'... Will It Attract Crypto Investment? - - January 19th, 2025 [January 19th, 2025]
- Vitalik Buterin Announces Leadership Overhaul at Ethereum Foundation Amid Growing Concerns - HPBL - January 19th, 2025 [January 19th, 2025]
- Ethereum Creator Vitalik Buterin Donates $340,000 in ETH to Tornado Cash Developer Alexey Pertsev - The Daily Hodl - January 3rd, 2025 [January 3rd, 2025]
- Vitalik Buterin calls out Elon Musk on free speech and banhammer threat - Cointelegraph - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Praises WeChat's Account Recovery Feature - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- 10m Thai Baht donated by Vitalik Buterin to support Khao Kheow Open Zoo - crypto.news - January 1st, 2025 [January 1st, 2025]
- Ethereums Vitalik Buterin Adopts Moo Deng the Hippo with $292K Donations to Thai Wildlife Charity - Brave New Coin Insights - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Shares Insightful Image Related to Ethereum - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin's Productive Day and Potential Insights for Ethereum Enthusiasts - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Discusses Technical Issues and Software Exploration - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Once Listed as Media Contact on Ethereum Website - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- Discussion on Historical Significance of 1975-99 by Vitalik Buterin - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Advocates for Social Incentives in Jury Nominations - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Makes Big Crypto Donation as 'Adoptive Father' - U.Today - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin-Linked Address Donates ETH to JuiceBox and Another Wallet - Blockchain.News - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Adopts Moo Deng, Thailands Beloved Baby Hippo, with $290,000 Donation - Blockhead - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin Donates to Thai Wildlife Charity on Behalf of ETH Community - Cryptonews - January 1st, 2025 [January 1st, 2025]
- Vitalik Buterin praises Starknet: the new version revolutionizes the efficiency of Ethereum - The Cryptonomist - November 23rd, 2024 [November 23rd, 2024]
- Vitalik Buterin on Ethereum's Latency and Decentralization Challenges - Blockchain.News - November 23rd, 2024 [November 23rd, 2024]
- Vitalik Buterin Highlights Importance of Data Efficiency in Ethereum Scaling - Blockchain.News - November 23rd, 2024 [November 23rd, 2024]
- Vitalik Buterin Emphasizes the Importance of Decentralization and Practicality - Blockchain.News - November 23rd, 2024 [November 23rd, 2024]
- Vitalik Buterin explores info finance concept for Ethereum-based prediction markets - DLNews - November 14th, 2024 [November 14th, 2024]
- Vitalik Buterin: The man who co-created Ethereum - Cointelegraph - November 14th, 2024 [November 14th, 2024]
- Vitalik Buterin Is Preparing An Ambitious Crypto Project That Could Overshadow Polymarket. - Cointribune EN - November 14th, 2024 [November 14th, 2024]
- Vitalik Buterin Spoke at Devcon 2024 Recalling the Role and Progress of Ethereum - Bitcoinsensus - November 14th, 2024 [November 14th, 2024]
- Its Time to Go Beyond Just Predicting Elections on Polymarket: Vitalik Buterin Challenges Prediction Markets - DailyCoin - November 14th, 2024 [November 14th, 2024]
- Shiba Inu Lead and Ethereums Vitalik Buterin: Is a 10-Minute Conversation Coming - The Crypto Basic - November 8th, 2024 [November 8th, 2024]
- Heres How Shiba Inu Can Reach $0.01 if Ethereum Founder Vitalik Buterin Considers This Move - The Crypto Basic - November 8th, 2024 [November 8th, 2024]
- Vitalik Buterin deposits 2.09M STRK on Binance, realizing a $714K loss - MSN - November 8th, 2024 [November 8th, 2024]
- Shiba Inu Lead Aims to Impress Ethereums Vitalik Buterin with SHIBs Potential - Crypto News Flash - November 8th, 2024 [November 8th, 2024]
- The Crypto Genius You Won't Believe Exists. Discover Vitalik Buterin! - Bit Perfect Solutions - November 8th, 2024 [November 8th, 2024]
- Shiba Inu Lead Seeks to Showcase SHIB Potential to Ethereum Vitalik Buterin - The Crypto Basic - November 2nd, 2024 [November 2nd, 2024]
- Ethereum Founder Vitalik Buterin: 'The Splurge' Seeks to Bring the EVM to an 'Endgame State' - Bitcoin.com News - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin sets sights on multidimensional Ethereum gas with focus on The Splurge - CryptoSlate - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin Proposes Solution to Shrink Ethereums 1.1 TB Node Size - CCN.com - November 2nd, 2024 [November 2nd, 2024]
- Whales Dive In: Vitalik Buterin Launches "The Splurge" Phase for Ethereum! - TOKENPOST - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin on The Splurge: Exploring Ethereums Future - Altcoin Buzz - November 2nd, 2024 [November 2nd, 2024]
- Ethereum Founder Vitalik Buterin Donates Over $1 Million to Ukrainian Humanitarian Non-Profits - Bitcoin.com News - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin Responds to Ethereum Foundations Growing ETH Sales - The Crypto Basic - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin, on The Verge: Exploring Ethereums Future - Altcoin Buzz - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin Clarifies Why the Ethereum Foundation Sells ETH - CryptoPotato - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin Eyes Fresh Ethereum Bull Run With New Network Update - The Crypto Basic - November 2nd, 2024 [November 2nd, 2024]
- Vitalik Buterin on The Purge: Exploring Ethereums Future - Altcoin Buzz - November 2nd, 2024 [November 2nd, 2024]
- Ethereum Price Forecast: ETH eyes rally as Vitalik Buterin unveils The Splurge - FXStreet - November 2nd, 2024 [November 2nd, 2024]