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Enthusiasts of Shiba Inu (SHIB), collectively known as the SHIB Army, have consistently aimed for a higher valuation of the memecoin. Drawing parallels with Dogecoin’s (DOGE) unexpected surge in 2013, which triggered widespread excitement when it surpassed the $0.7 mark, a similar scenario could unfold if SHIB makes a comparable move. However, the path to reaching $0.05 is anticipated to present challenges.

 

 

 

Achieving a $0.05 valuation from the current levels would signify a growth of approximately 555,455%. Although this percentage appears remarkably high, it mirrors a feat the project accomplished from its inception in August 2020 to its peak in October 2021, where SHIB’s price experienced a substantial surge. Nevertheless, for SHIB to replicate its success from 2020 to 2021, specific actions need to be taken.

 

 

One pivotal factor in the previous rally was Ethereum co-founder Vitalik Buterin’s decision to burn half of Shiba Inu’s (SHIB) supply, which he received at the project’s launch. Opting to burn 90% of the supply and donate the remainder to charity had a profound impact on SHIB’s price. A similar burn is deemed essential for the project to witness a comparable price rally.

 

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