🫨💥Shiba Inu: If 50 Trillion SHIBs Are Burned Every Year, Could SHIB Reach $0.1?
#ShibaInu (#SHIB ) is one of the most popular cryptocurrencies on the market. The asset turned many early investors into multimillionaires. Since its launch in August 2020, the price of SHIB has increased by millions of percent. However, the popular dog-themed cryptocurrency has had a difficult time gaining momentum after its peak in 2021.
One of the main obstacles to the price of SHIB is the large supply. There are about 589 trillion SHIB tokens in circulation. If the price of the asset rises too much, the market value of the project becomes too large to be realistic. Therefore, the project needs to reduce its supply in order to be able to target higher prices.
Despite the fact that Shiba Inu (SHIB) is a burning portal, it does not burn as many tokens as necessary to achieve higher prices. However, 2 of the SHIB. with the launch of the layer network Shibarium, there is a lot of talk about the increase of burns.
Shiba Inu: What Happens If 50 Trillion SHIB Tokens Are Burned Every Year?
If Shiba Inu (SHIB) burns 50 trillion tokens a year, it can eliminate 90% of the tokens in circulation in a few years. The asset will have about 49 trillion tokens in circulation on the market. This can only help SHIB to reach a price point of about US$0.0001 to US$0.0003 Dec.
In addition, SHIB's chief developer Shytoshi Kusama said that the burns alone will not raise the price of the asset. The asset also requires an increase in demand. Low supply and high demand are the trick to raising prices.
However, although this task is difficult, it is not impossible. Shiba Inu (SHIB) has come a long way in its two and a half year history. It's a young project that still has a lot of room to grow. On the other hand, SHIB's competitor Dogecoin (DOGE) has been on the market for more than a decade.
