Twitter user and SHIB enthusiast @ShibBPP has speculated that three things can help the second largest meme coin SHIB reach the long-awaited $0.01 level.
Here's what can drive SHIB to hit $0.01
@ShibBPP told his 51,000 followers that he believes for Shiba Inu to reach the $0.01 level three things are necessary: mass adoption, staking/liquidity and burning.
SHIB adoption has been expanding recently. As reported by U.Today, recently SHIB expanded its connections with the Travala platform through a new program.
Now, SHIB holders will have access to an affiliate program from Travala travel operator that sells its services for cryptocurrencies. From now on, they will receive a certain percentage of travel bookings made by friends they invite.
The initial partnership between Shiba Inu and Travala was announced in November last year, when the travel booking company added the SHIB token to the list of cryptos they accept for their services.
Besides, recently Ralph Lauren has begun accepting Bitcoin, Ethereum, SHIB and other cryptos as it plans to launch a Miami Design District store.
SHIB burns rise to peak
Every day, the SHIB community continues to remove large amounts of Shiba Inu from the circulating supply. After the launch of Shibarium beta under the name Puppynet on March 11, these burns grew in size.
On Friday, according to the Shibburn tracking platform, the SHIB burn rate jumped a whopping 35,500%. However, only 17,804,606 Shiba Inu tokens had been burned during the previous 24 hours.
Prior to that, merely 50,000 SHIB were burned on the previous day. Hence such a massive rise in the burn rate registered by the Shibburn website.