The Shiba Inu (SHIB) cryptocurrency is on the brink of a significant milestone, with the community eagerly watching for the coin to "erase another zero" from its price
With its current price at $0.00000794, SHIB would need to witness a roughly 25.5% gain to achieve this milestone and break the $0.00001 level.
"Erasing zeros"
For those unfamiliar with cryptocurrency parlance, "erasing a zero" signifies a coin's tenfold price increase, shifting its decimal point to the right.
This milestone, while a symbol of growth, is met with varied reactions within the SHIB community.
Enthusiasts view it as a testament to the coin's potential and its widening acceptance.
a combination of factors, including growing interest from retail investors, increased media coverage, and speculative trading, pushed SHIB's price to new highs.
This period was crucial in cementing SHIB's position as more than just another "meme coin" and showcased the potential for community-driven cryptocurrencies to achieve substantial market valuations and interest. Still, the token is down more than 90% from its all-time peak.
Factors fueling SHIB's ascent
However, much of the anticipation surrounding SHIB stems from forthcoming announcements from its development team. Shytoshi Kusama, a principal figure in the SHIB movement, has teased "significant changes" on the horizon. The official Shiba Inu X Twitter account further amplified this sentiment. Full details are to be disclosed on Oct. 31.