The vibrant community behind the popular memecoin just revived the $1 debate: are burns the main catalyst?

Shiba Inu’s (SHIB) official X account just quoted a rather optimistic outlook on the popular meme coin’s path forward, assessing the frequently-discussed $1 price target. Shiba Inu’s (SHIB) price tends to swing harder than the major-cap altcoins like Solana (SOL) or Ethereum (ETH) due to the speculative nature of the token.

Shiba Inu’s $1 Dream Still Alive? Here’s The Gist

A few days back, a crypto currency comparison between the major-caps surfaced online, and SHIB was included. In the insight, it was established that Shiba Inu (SHIB) “acts as a high-beta asset”. The analyst called it trading way below its potential, struggling due to the 589 trillion supply that makes a $1 tag “mathematically improbable, but NOT IMPOSSIBLE.”

The Shiba Inu team then shared the post with its followers and called it “nice work.” However, it’s of crucial importance to note that the Shiba Inu (SHIB) price portrayed in the graphic is overstated. The comparison table shows a $0.000012 price on the popular Japanese guard dog-themed coin. Realistically, these levels haven’t been recouped in 2026 yet.

Community’s Best Way To Handle Coin Inflation

No doubt, the big question is how to erase the 589 trillion SHIB tokens that are in circulation. At $1 each, the token’s market cap would reach about $589 trillion. That figure is simple arithmetic, price multiplied by supply, not the amount of money buyers would need to put in. Notably, this figure has considerably dropped from the initial 999 trillion due to community burns.

Presently, beyond 41% of the total supply has been torched. The regular SHIB burning by separate individuals and community initiatives has pushed SHIB’s weekly burn rate up by 190.45%, but it still revolves around millions of tokens rather than billions burned. Gradually, the stats could pick up along with the usage of Shibarium, the community’s native Layer-2 chain.

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