- As Shiba Inu is eyeing a major price jump, a community member has hinted at three things that can drive growth.
- These growth markers include mass adoption, staking/liquidity, and token burn campaigns.
Shiba Inu (SHIB) and its prospects in the broader digital currency ecosystem have continued to amuse observers as the clamor to retest the $0.05 price tag is still well underway. The memecoin is currently trading at $0.00001112, up by 1.94% over the past 24 hours.
While Shiba Inu is doing all it can to bring this ambition to life, one community member has highlighted three things that can help make the dream a reality in the long run.
According to the Twitter user @ShibBPP, for Shiba Inu to hit and cross that milestone, it must be able to witness mass adoption, have a robust staking/liquidity mechanism, and maintains a functional token-burning campaign.
All of these projected implementations according to ShibBPP must occur simultaneously in order to guarantee the main target. Taking a look at the first point, the mass adoption, Shiba Inu has been doing a lot in this regard, featuring high-profile partnerships with major brands around the world.
Digital currencies are generally known to embody a unique revolutionary tech, but many believe that for these nascent asset classes to attain the mainstream adoption they crave, there must be an associated utility directed to the real world. Shiba Inu inked a strategic partnership with Binance Pay as the digital currency looks set to be integrated by one of the biggest payment networks in the world.
The innovation underpinning Shiba Inu remains a very broad-based one with the protocol launching an affiliate program for the SHIB token holders. Driving adoption is all about creating new utilities that are enticing to users. One of the ways the Shiba Inu protocol is doing this is by driving the influence within its ecosystem, featuring its other associated tokens including BONE and LEASH.
Shiba Inu and its Accompanying Growth Push
According to ShibBPP, launching an advanced staking program can also give more users enhanced value for their tokens. Staking occurs when a digital currency is locked in a smart contract in a bid to contribute to the functionalities of the entire protocol.
With staking, SHIB holders will have another option to earn passive income, pending when the massive growth uptrend will be charted. The token burn event is another vital onchain activity that is necessary to drive the deflationary principles of Shiba Inu’s tokenomics.
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Shiba Inu has been burning its tokens for quite some time as registered by Shibburn.com With hundreds of millions of tokens sent to dead wallets since the start of the year, the memecoin has attained a whole new level of valuation, which if sustained, can drive the price of the asset to new heights.
With Shibarium now gaining traction, more SHIB tokens will be burnt as the number of transactions grows across the board. In all, it is a matter of when, not if, for SHIB to attain the $0.01 price tag should all three conditions be satisfied.
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