Two Important Events Could Change the Shiba Inu Ecosystem
Two important events could change how the Shiba Inu (SHIB) ecosystem moves in the market. As crypto investors look for real-world utility tokens, SHIB is trying to attract their attention with new technologies. Moreover, the two game-changing updates could even push the Shiba Inu price to a new all-time high of $0.0001.
Major Developments Fueling Shiba Inu Prediction To $0.0001
The first leading development is the launch of ShibOS, an OS designed to work well within the Web3 ecosystem. In January, Shiba Inu launched ShibOS to be the base layer for all decentralized apps running on the network. Shytoshi Kusama, Shiba Inu’s lead developer, stated that the platform tries to connect the modern centralized Web2 to the developing decentralized Web3 infrastructure, as highlighted in our previous story.
ShibOS is created to appeal to programmers as well as companies looking to use new forms of decentralized technology. By focusing on usability, it promises to simplify application deployment in the SHIB ecosystem. As more projects utilize ShibOS, the demand for SHIB tokens may increase, as SHIB plays a crucial role in the system’s operation. The rising utility for ShibOS could potentially boost market interest for SHIB coin, which could push the price toward the $0.0001 dream target.
A token burn system is also coming soon, which has people paying close attention, as it may have a big effect on SHIB’s token distribution. The large supply of 589 trillion SHIB on the market has so far limited how much the price can rise. Having a high supply means that even small price increases can lead to major increases in market capitalization.
Team Decides To Burn Trillions of SHIB Tokens
The Shiba Inu developers are reportedly coming up with a new way to burn tokens that is said to consume trillions of them each year. Some community discussions early on suggest that the team’s ongoing work could see a far bigger reduction in supply this time than in previous Litecoin history.
Large token burns in the past have influenced the Shiba Inu price positively. In 2021, out of the 500 trillion Shiba Inu tokens sent to Vitalik Buterin by the developers, 410 trillion SHIB were left to burn. This burn pushed up the Shiba Inu price during the bull run at the time, eventually hitting an ATH of $0.00008616. The latest token burn project is designed to generate the same deflationary consequence, possibly pushing the SHIB price to $0.0001.
Even though SHIB has lost more than 85% of its previous value of $0.00008616, community interest stands strong. Also, despite falling from the list of top 20 crypto assets by market cap, SHIB retains a devoted investor base. Thus, a lot of people are interested in ShibOS and the SHIB burn initiative, as these events might give the meme coin a new direction.