Donald Trump’s recent presidential victory has pushed the cryptocurrency market’s recent bull run.
This reignited discussions about Shiba Inu, the second-largest meme coin. Over the past two weeks, SHIB grew by 44%, leading some traders to wonder if the token could eventually hit the $1 valuation.
SHIB’s huge supply of tokens makes this a herculean task, but that doesn’t mean that we can’t expect more surges in the days ahead.
On the presale side of the market, projects like PlutoChain ($PLUTO) are gathering a lot of attention.
Let’s see what we can expect from Shiba Inu, and whether PlutoChain can find its spot on crypto charts.
Shiba Inu Hitting $1 Is Borderline Impossible – What Would Need To Happen?
Shiba Inu’s main obstacle on the road to $1 valuation is the huge number of tokens in circulation—over 589 trillion tokens.
For Shiba Inu to reach $1, its market capitalization would need to exceed $589 trillion. Even a price of $0.01, a hundred times smaller, would make Shiba Inu surpass the combined worth of Bitcoin and Ethereum.
Their development team has introduced token burn initiatives to address this issue. By reducing the supply, they want to make higher price targets more realistic.
However, achieving the scale of burns necessary to significantly impact the price remains a herculean task. Over 99% of supply would need to be eliminated.
Despite these mathematical and logistical hurdles, Shiba Inu enthusiasts still believe that there’s room for growth.
They hope the developers will expand its ecosystem, make better partnerships, and increase real-world use cases that could boost demand.
While these factors could strengthen SHIB’s position in the market, Forbes agrees that reaching $1 is unrealistic.
This is why investors shouldn’t put all their eggs in one basket and check out presale projects like PlutoChain ($PLUTO) that might be worth a look.
PlutoChain ($PLUTO) – A New Layer 2 Solution With Reduced Transaction Costs
PlutoChain ($PLUTO) is a unique hybrid Layer 2 solution for Bitcoin, that wants to combine BTCs security with advanced blockchain functionality.
By integration of smart contracts and decentralized applications (dApps) into Bitcoin’s network, PlutoChain enhances the blockchain’s utility far beyond its traditional role as a store of value.
Some of the PlutoChain’s key features are scalability, reduced costs, and faster transaction confirmations.
Its Layer 2 framework processes transactions off-chain, which significantly cuts cost and reduces congestion. This guarantees quick payments and a smoother user experience. For more information, check out their whitepaper.
Another flagship feature of PlutoChain is its compatibility with the Ethereum Virtual Machines (EVMs). This allows Ethereum-based applications to migrate easily to Bitcoin, which creates a bridge between Ethereum’s flexibility and Bitcoin’s security.
The token, $PLUTO, is currently available for presale at $0.103, which gives an opportunity for investors to get involved at a lower price.
$PLUTO Holders Vote On Important Decisions Through Democratic Governance
PlutoChain gives its community full decision-making power. $PLUTO holders have a direct say in the project’s future.
This decentralized governance model lets participants vote on key issues like protocol updates, network improvements, and strategic changes. Each change must pass through collective approval.
The $PLUTO token stands at the core of this framework as both a governance tool and a utility within the PlutoChain ecosystem. It maintains decentralization by giving the community direct control over essential upgrades.
PlutoChain puts security first. A recent audit by SolidProof proves this commitment – their thorough security review found and fixed vulnerabilities to strengthen the platform’s foundation.
Conclusion
SHIB’s rise to $1 remains impossible by basic math. The token could grow, but its massive supply and pure speculation nature set firm limits.
Meanwhile, PlutoChain has drawn significant interest with its bold plan to make Bitcoin much more than just a store of value.
$PLUTO will essentially boost Bitcoin’s capabilities while keeping the original security intact.
These updates could push Bitcoin’s network to new heights of use and function. At $0.103, the presale price point lets investors join early at an affordable level.
You can keep up with the latest updates and join the community on Twitter, Telegram, and Discord.
Visit the links below to learn more about PlutoChain and its unique features:
Official Website: https://plutochain.io
X/Twitter Page: https://x.com/plutochain/
Telegram Channel: https://t.me/PlutoChainAnnouncements/
The information in this article does not represent financial or investment advice. Always research carefully before participating in the crypto market.