Let's elaborate. Burning the SHIB token is a way to reduce the total supply. Although meme coins have been around since 2013, when Dogecoin was created, it was in 2021 that they became mainstream. Then in the middle of next year, the crypto price forecaster sees Shiba rising to $0.00005546. As it happens, Shiba Inu first spurred these hopes when it skyrocketed by over 1,069% to its all-time high (ATH) of $0.00007924 back in late October 2021, only to drop 86.75% since then, at press time changing hands at the price of $0.00001137, as per data retrieved on March 3. Here's Why 589.6 Trillion Is the Key Number, Beyond Dogecoin and Shiba Inu -- These 3 Cryptos Are Better Buys, 3 Cryptocurrencies to Avoid Like the Plague in February, 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? Some do not even believe that Shiba Inu has what it takes to reach $1 by 2026. From there, ADA should rebound higher as what happened previously. Chipotles first investment in bitcoin Microsoft is a company that specializes in (MSFT), Amazon is a company that sells books (AMZN), The Total Market Capitalization of the Worlds Stock Exchanges. SHIB/USD eight-hour chart. The price of Shiba Inu has dropped to $0.0000114 today, after news of financial problems at Silvergate Bank spooked the market. On October 29, 2021, Shiba Inu's price increased by more than 10 times, giving the company a $41 billion market value. On the Ethereum network, its another ERC20 token. Investors are still on a wait-and-see mode, and there is no telling when the crypto prices will start climbing again. SHIB or DOGE: Is Shiba Inu better than Dogecoin in 2023? Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Shibarium envisions being an ecosystem from which potential Shiba Inu projects will come up. And Shiba Inu supporters -- the Shib Army -- built up excitement about the crypto across social media. In this context, the factors of project niche, marketcap, revolution, and innovations are significant. In fact, it offers a lot less in some cases. How will Shiba Inu Perform in Q1 of 2023? The price has recently dropped to $0.0000082. When SHIB is nothing more than an Ethereum-based ERC20 token, its ludicrous that its overall market value will be more than Bitcoin, Ethereum, Apple, Tesla, and other major enterprises. Shiba community crossed 1 million marks on social media platform including twitter, telegram, discord, reddit and more.