How Shiba Inu Could Hit $0.01 With Potential Ethereum Upgrade ?

In Recent discussions within the Shiba Inu community, there is been excitement over a new idea that could potentially bring SHIB to a significant price target of $0.01. While the idea has sparked enthusiasm, many are questioning whether it’s realistic. Here’s what’s being discussed.

SHIB as an Ethereum Gas Token: The Proposal

On social media Platform X, a community member named “Lola” shared an ambitious idea: what if Shiba Inu (SHIB) could be used as a gas token on the Ethereum network? Lola believes this dual-token model might boost SHIB’s value, comparing it to Solana’s transaction system where a portion of transaction fees gets burned, increasing long-term value by reducing the token’s supply.

Burn Mechanism: Driving Scarcity for SHIB

Lola suggests that using SHIB as a gas token could drive up its price by triggering a burn mechanism to decrease the overall supply. With Ethereum high transaction volume, SHIB’s supply could potentially see substantial reductions, which in turn might support its value growth, bringing it closer to the $0.01 target

Skepticism and Challenges: Dual-Token Feasibility

While some community members are optimistic, others express doubts, pointing out that creating a dual-token system on Ethereum may not align with Ethereum current infrastructure. Ethereum Proof of Stake (PoS) consensus relies on ETH as its single, integral gas token, meaning major changes would be required to support SHIB in this role.

Dual-token models, seen in projects like VeChain and MakerDAO, serve specific purposes within their ecosystems. But Ethereum design is deeply tied to ETH, making it challenging—and potentially risky—to add SHIB as a parallel gas token.

Technical Hurdles and Regulatory Concerns

Shiba Inu marketing specialist Lucy previously commented on this idea, noting that such an upgrade could pose technical and regulatory issues. Integrating SHIB as a gas token on Ethereum would require complex adjustments to the network’s structure and protocols, potentially confusing users accustomed to ETH’s established role as the sole gas token.

Lucy emphasized that transitioning Ethereum to a dual-token model would likely be time-consuming and costly, with security implications that could impact the entire ecosystem.

Community Feedback: Focus on Shibarium Burn Mechanism

Many community members believe a more practical approach would be to enhance Shiba Inu’s own network, Shibarium. Notably, Shibarium already incorporates a burn mechanism that reduces SHIB supply, and its transaction volume has led to significant burns during peak periods. With a consistent focus on Shibarium, SHIB might achieve gradual supply reduction over time without the complexity of integrating into Ethereum gas token system.