The large supply of Shiba Inu (SHIB) is one of the biggest barriers to its price. There are currently about 589 trillion SHIB tokens in circulation. If the asset price is too high, the market capitalization of the project will reach unrealistic figures.
SHIB
One of the most important catalysts for the amazing rise in 2021 is Vitalik Buterin
Ethereum co-founders received half of the project’s supply when it launched. Buterin decided to destroy 90% of the tokens he received and put the remaining 10% into
Donate to charity. His actions caused supply to drop drastically and prices to soar.
What will be the price of Shiba Inu if 99% of tokens are burned?
if
99% of SHIB tokens are destroyed, and the project will have about 5.89 trillion tokens. Assuming the market value of the project is still 146.8
In this case, the price per token would be $0.00249 ($14.68 billion / 5.89 trillion).
USD would mean an increase of about 9883.9%.
If the market capitalization of Shiba Inu increases, the price per token will increase by more than $0.00249.
Can a project destroy 99% of all tokens?
According to SHIB lead developer Shytoshi Kusama, destroying 99% of SHIB tokens is possible. Kusama noted that this effort would have been impossible a few years ago. Now, this plan is possible thanks to the union of many projects.
Although the team can carry out such a large-scale destruction,
Kusama stressed that burning such a large amount of tokens would bring some problems. As people started to buy more SHIB
tokens, and believes that the price will soar and the cost of continuing to burn will become more expensive. Kusama said, "Not only Shib, but also Bone, Leash and Treat
Equally important is the staking and new use cases of blockchain.”
If you have been stumbling around in the cryptocurrency circle and can’t find your direction! Or you have been losing money! You can follow me!
