Revealed! How did Shiba Inu Coin (SHIB) soar to $0.001 in a short time?
Shiba Inu (SHIB) has achieved tremendous success over the past four years. Since its launch in August 2020, the dog-themed cryptocurrency has seen its price rise by millions of percentage points. Early investors have made millions in profit with minimal investment. Despite the astonishing growth of the asset, its price has remained stagnant over the past few years. SHIB has seen some increases in the past few weeks, but they are trivial compared to the surges in 2021.
Many believe the ship for SHIB has already set sail, but others think there is still significant room for growth. SHIB's fans and investors hope the asset can sell for even higher. Many people's goal is to remove a few zeros after the decimal point.
One of the most important catalysts for SHIB's outstanding performance in 2021 was the token burn by Vitalik Buterin. The co-founder of Ethereum received half of the supply when SHIB was launched. Buterin decided to burn 90% of the tokens and donated the rest to charity. His actions led to a substantial decrease in supply, resulting in a price surge.
Reports suggest that the Shiba Inu team is working on a new burn mechanism. It is rumored that the new mechanism will burn trillions of tokens each year. If the team can significantly reduce the asset's supply, we may see another rebound like the one in 2021.
One of the most important catalysts for SHIB's outstanding performance in 2021 was the token burn by Vitalik Buterin. The co-founder of Ethereum received half of the supply when SHIB was launched. Buterin decided to burn 90% of the tokens and donated the rest to charity. His actions led to a substantial decrease in supply, resulting in a price surge.
Reports suggest that the Shiba Inu team is working on a new burn mechanism. It is rumored that the new mechanism will burn trillions of tokens each year. If the team can significantly reduce the asset's supply, we may see another rebound like the one in 2021.
