$SHIB 1 Dollar Dream: Can 99% Token Burn Create a Miracle?
SHIB is heading towards the crazy price of 1 dollar, but to be honest, considering its circulation of up to 589 trillion, this sounds like a fantasy. However, recent rumors about burning 99% of the tokens have sparked heated discussions again.
Token burning, in simple terms, means permanently removing tokens from the market, usually by sending them to an inaccessible wallet. A reduction in the supply of circulating tokens means that the potential value of each token may rise.
SHIB initially had 1 quadrillion tokens. If 99% were burned, its supply would sharply decline to just 5.89 trillion tokens.
How can a 99% token burn help SHIB achieve its 1 dollar dream?
Let’s see what this initiative means for SHIB's 1 dollar dream:
Scarcity = Value:
A decrease in the number of tokens means the remaining tokens may become more precious.
Demand Boost:
A reduction in supply may attract new buyers, thereby pushing up the price.
Community Excitement:
Token burning always stirs people's enthusiasm, generates widespread attention, and stimulates further investment.
Market Cap Dilemma:
Even if 99% of the tokens are burned, SHIB still needs a market cap of 5.89 trillion to reach a price of 1 dollar.
Demand Rules Everything:
Simply burning tokens is not enough. SHIB needs sustained demand to support any price increase.
Utility is Key:
To remain relevant, SHIB needs to have real-world use cases.
In this volatile market, SHIB's 1 dollar dream still seems out of reach.
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