Recently, there have been various positive news about SHIB (Shiba Inu coin, also known as shit coin), not only are numerous retail investors buying in, but several smart money large investors have also recently increased their holdings of SHIB by millions of dollars, and many players have moved their purchased SHIB to wallets (long-term holders).
At the same time, SHIB has released a major news that shocked the market: there are rumors that 99% of SHIB tokens will be destroyed! Currently, SHIB's market value has reached 15 billion dollars, and its rate of token destruction is astonishingly fast. This news has sparked widespread attention and heated discussion in the market: if 99% of SHIB is really destroyed, can it soar to 1 dollar? Or will such a move destroy the entire ecosystem of SHIB? Everyone is discussing and opinions vary widely.
In fact, the recent token destruction actions of SHIB have indeed been as fierce as a storm, with the destruction rate soaring by 6220% in just a few days. Originally possessing 999 trillion tokens, SHIB has now destroyed 410 trillion, leaving only 541 trillion in circulation. This enormous amount of destruction undoubtedly affects the price of SHIB.
However, in the face of this astonishing situation, SHIB's chief developer Kusama appeared relatively calm. He stated that technically it is indeed possible to achieve a large amount of token destruction, but destruction is not a cure-all. Ecosystem projects of Shiba Inu, such as DeFi, are equally crucial. Kusama warned that if destruction is too aggressive, it may lead to an excessively high SHIB price, thereby deterring potential buyers, and the rate of destruction will slow down, further hindering SHIB's development. Therefore, finding a balance between token destruction and other efforts is crucial.
Currently, the price of SHIB is still rising, and experts generally hold an optimistic attitude. Technical analysis shows that as long as SHIB can break through a certain key point, its price could rise to 0.000045 dollars. However, to reach higher prices, such as 1 dollar, the SHIB community must find that perfect balance between token destruction and improving ecosystem projects like Shibarium. This not only requires the collective effort and wisdom of the community but also a deep insight and grasp of market dynamics and investor psychology.
I believe that the so-called value coin ultimately depends on whether its ecosystem is strong, whether its ecosystem has been continuously upgraded and developed! Whether there are numerous applications that are sought after and used by a large number of blockchain players! This is crucial, and as for whether to destroy? The amount of destruction is not absolutely significant in relation to the rise in coin prices.
Of course, I have always been very optimistic about SHIB, and I have been accumulating and holding it for the long term.
In the future, it will still perform well.
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