LIVE
Learn_With_Fullo
--
Bullish
Shiba Inu: $1.2 Million SHIB to be Burned, First Step to $0.01?
Shiba Inu (SHIB) lead developerĀ Shytoshi KusamaĀ has teased that the project might undertake a massive burn soon. According to Kusama, almost $1.2 million worth of SHIB tokens might face incineration. SHIBās burn rate has taken a back seat in 2023, with sporadic, untimely burns occurring randomly. SHIB fans, popularly called the SHIB Army, have called on developers to increase burns to decrease the tokenās supply.
Kusamaās hint suggests that Shiba Inuās (SHIB) burn rate could see a spike very soon. SHIB burns on Shibarium, the projectās layer-2 network, has also increased. According to the data on Shibburn, 50% of total burns now occur on the network. Burns on Shibarim take place with ShibaSwap Bone (BONE) as gas fees. So far, 1,367,845.42 BONE tokens have accumulated, worth approximately $1.2 million.Ā The gas fee will be converted to SHIB and sent to the dead wallet.
X userĀ randomartz3Ā suggested using the gas fee to burn BONE and SHIB. However, Kusama disagreed and said the gas fee would only go towards burning Shiba Inu (SHIB).
Can Shiba Inu (SHIB) hit $0.01 after burning $1.2 million tokens?
Removing $1.2 million worth of SHIB tokens will likely positively impact the popular memecoinās price. However, given SHIBās massive circulating supply, it is unlikely to hit $0.01. There are about 589 trillion SHIB tokens in circulation right now. The team needs to significantly reduce the tokenās supply if its price has to reach $0.01.
Apart from the massive burn teased by Kusama, the Shibarium network recently forked to allow for more enhanced burns. However, the team has not revealed how many tokens will undergo burns after the hard fork.
Moreover, Shiba Inuās (SHIB) price has once again dipped, adding a zero to its price after the decimal point. The crypto market has faced a correction, likely due to the US inflation data that is due tomorrow.
#SHIBFuture #SHIBSurge
Shiba Inu (SHIB) lead developerĀ Shytoshi KusamaĀ has teased that the project might undertake a massive burn soon. According to Kusama, almost $1.2 million worth of SHIB tokens might face incineration. SHIBās burn rate has taken a back seat in 2023, with sporadic, untimely burns occurring randomly. SHIB fans, popularly called the SHIB Army, have called on developers to increase burns to decrease the tokenās supply.
Kusamaās hint suggests that Shiba Inuās (SHIB) burn rate could see a spike very soon. SHIB burns on Shibarium, the projectās layer-2 network, has also increased. According to the data on Shibburn, 50% of total burns now occur on the network. Burns on Shibarim take place with ShibaSwap Bone (BONE) as gas fees. So far, 1,367,845.42 BONE tokens have accumulated, worth approximately $1.2 million.Ā The gas fee will be converted to SHIB and sent to the dead wallet.
X userĀ randomartz3Ā suggested using the gas fee to burn BONE and SHIB. However, Kusama disagreed and said the gas fee would only go towards burning Shiba Inu (SHIB).
Can Shiba Inu (SHIB) hit $0.01 after burning $1.2 million tokens?
Removing $1.2 million worth of SHIB tokens will likely positively impact the popular memecoinās price. However, given SHIBās massive circulating supply, it is unlikely to hit $0.01. There are about 589 trillion SHIB tokens in circulation right now. The team needs to significantly reduce the tokenās supply if its price has to reach $0.01.
Apart from the massive burn teased by Kusama, the Shibarium network recently forked to allow for more enhanced burns. However, the team has not revealed how many tokens will undergo burns after the hard fork.
Moreover, Shiba Inuās (SHIB) price has once again dipped, adding a zero to its price after the decimal point. The crypto market has faced a correction, likely due to the US inflation data that is due tomorrow.
#SHIBFuture #SHIBSurge
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.Ā See T&Cs.
SHIB
0.00002207
-0.80%
Replies 0