Will SHI Stablecoin Help Shiba Inu Achieve its Dream US$1 Mark?

Achieving mission impossible through Shiba Inu's own stablecoin SHI to reach US$1

Shiba Inu is constantly struggling to reach the US$1 benchmark for a very long period of time. SHIBA army has already started leveraging the ShibBurn strategy to increase the cryptocurrency price by reducing the supply in the highly volatile cryptocurrency market. Shiba Inu has been using its own stablecoin known as SHI. All kinds of Shiba Inu developments are in full swing in the hope to achieve the US$1 mark in the nearby future. Let's explore how SHI stablecoin can help the SHIBA army to bring this US$1 project successful in the cryptocurrency market.

A brief description of SHI

SHI is a personalized stablecoin of Shiba Inu cryptocurrency known for being an algorithmic stablecoin pegged to US$1. The main objective of SHI is to operate on both Ethereum and Shibarium to be a global stablecoin through the volatile and fluctuating cryptocurrency market. SHI is one of the top products of Shiba Inu along with ShibaSwap 2.0 and many more.

Current status of the memecoin

Crypto investors consider that it is very unlikely for this cryptocurrency to reach the US$1 mark through all these different strategies. The main reason is that the current Shiba Inu price is US$0.000009939 (down by 37.95%) with a market cap of US$5.46 billion and a volume of US$1.66 billion. Thus, it will take a longer period of time for a stablecoin to reach US$1 from the current cryptocurrency price.

SHI effect on the current price

Thus, Shiba Inu has started working relentlessly on SHI as its first stablecoin in the cryptocurrency market from being a memecoin. It will also be used as a payment method as well as a store of value. It will be pegged to US$0.01 by maintaining the stability of SHI. Shiba Inu is expected to gain a boost from ShibBurn strategies and increased crypto adoption. But the output is uncertain to reach at least US$1 benchmark for this cryptocurrency needs to increase up to approx. 5,000,000% from the current price as the stablecoin.

Sometimes, it is on the verge of shocking the highly volatile cryptocurrency market. But Shiba Inu has a total supply of 589.7 trillion. Crypto investors are holding on to ShibBurn and SHI to increase the price. Meanwhile, almost every crypto investor has a deeper understanding that this cryptocurrency will not reach US$1 as soon as possible. It looks like a high-risk venture out of all kinds of cryptocurrencies. Meanwhile, the token price can surge more than the current levels if different important positive catalysts can emerge together. It is highly beneficial for crypto investors to expect the US$1 mark for Shiba Inu and start looking out for the risk profile with a better feasible price that can drive a bit of profit in crypto wallets.

ShibBurn is considered a useless strategy for increasing the price of Shiba Inu. It is headed to the seven-month low cryptocurrency price in the global market. The declined price may be an after-effect of the burning desire through the ShibBurn strategy.

Conclusion

SHI is set to be one of the financial assets in the SHIBFE or The Shibarium Financial Ecosystem as the stablecoin. There is a need for SHI to show the process of decentralized Shiba Inu in the Shibarium ecosystem. That being said, it is still uncertain whether SHI stablecoin can increase the cryptocurrency price to US$1 as per the expectations of crypto investors. This is a highly volatile cryptocurrency market. Thus, one needs to make smart decisions to avoid having serious consequences in crypto wallets. Short-term investors will consider the sell-off of Shiba Inu whereas long-term investors can focus on keeping and hoping to reach the US$1 benchmark post-entry of the stablecoin.