As meme coins bounce back from their lowest point of 3.53, there is growing optimism for coins such as Shiba Inu, as price goals are being established at $0.0001. Shiba Inu is aiming for a record high price, but achieving this milestone will require an increase in demand driven by various factors. The value of Shiba Inu, like other cryptocurrencies, relies heavily on the balance between supply and demand. When there is an excess of supply compared to demand, prices usually decrease. When the demand for SHIB token exceeds its supply, it causes the price to increase. This is why the demand for the SHIB token is crucial. Read more: Dogecoin continues to outperform Shiba Inu and PEPE in this key measure. Increasing signs of higher demand can be seen in the uptick in trading volume. In the past day alone, the SHIB daily trading volume has surged by more than 33% to $2.1 billion. There has been a rise in Shiba Inu open interest, indicating increased trader interest in the coin. If demand for SHIB keeps growing and sellers deplete their supply, this decrease in available coins could drive the price above $0.0001. Additionally, increased burning of SHIB tokens within the community is expected to further boost the price of Shiba Inu. The Shiba Inu team has recently contributed to a significant increase in burn rates on the Ethereum Layer 2 network, Shibarium. One of their latest burns, amounting to 40 ETH, will result in more than $100,000 worth of SHIB being removed from circulation.