$SHIB destroys 99% of tokens, market shakes! Can the price soar?
SHIB recently made a big move, and as soon as the news broke, the market exploded! It is said that SHIB is going to destroy 99% of its tokens, which is quite a bold move. Now SHIB's market value has reached 15 billion USDT, and the destruction speed is astonishing. Everyone is discussing whether if so many tokens are destroyed, will SHIB's price soar to 1 USDT? Or will this action collapse the entire SHIB ecosystem?
SHIB's destruction action is indeed fierce, in just a few days, the destruction rate has increased by 6220%. Originally there were 999 trillion tokens, now 41 trillion have been destroyed, leaving only 541 trillion in circulation in the market. Such a large-scale destruction will definitely have a significant impact on SHIB's price.
However, SHIB's chief developer Kusama remains quite calm. He said that technically, destroying so many tokens is feasible, but destruction is not a cure-all. Projects like decentralized finance in the SHIB ecosystem are also very important. Kusama also reminded that if the destruction is too aggressive, SHIB's price could rise to a point where potential buyers are deterred, causing the destruction speed to slow down, which would negatively impact SHIB's development. Therefore, the key is to find a balance between destroying tokens and other aspects.
Looking at it now, SHIB's price is still rising, and experts are quite optimistic. Technically, if SHIB can break through a certain key point, the price could rise to $0.000045. But if it wants to hit the high of $1, the SHIB community needs to find a perfect balance between token destruction and improving ecological projects like Shibarium.
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