Shiba Inu’s $1 Dream: Could a 99% Token Burn Make It Happen?
Hey! So, Shiba Inu (SHIB) is aiming for a crazy $1 price, but let’s be honest — with 589 trillion tokens in circulation, that seems like a long shot. Now, there are rumors about burning 99% of the tokens, and that has everyone talking again. Could this actually work? Let’s take a look!
What is token burning?
Burning tokens means permanently removing them from circulation by sending them to an inaccessible wallet (think of it as a crypto black hole). Fewer tokens in circulation = potential for higher value.
Shiba Inu started with 1 quadrillion tokens. If 99% are burned, the supply drops to just 5.89 trillion. This is a HUGE shift in supply and demand dynamics.
How can a 99% burn help SHIB?
Here's what this could mean for the $1 dream:
1. Scarcity = Value:
Fewer tokens means that the remaining ones can become more valuable (if demand remains stable or increases).
2. Increased demand:
Reduced supply can attract new buyers and drive up prices.
3. Community Hype:
Token burning gets people excited, creating buzz and encouraging more investment.
Reality check
Cool idea, but there are still big challenges:
Market capitalization problem:
Even after a 99% burn, SHIB needs a market cap of $5.89 trillion to reach $1. That’s more than Bitcoin and Ethereum combined.
Demand is everything:
Token burning alone is not enough. SHIB needs consistent demand to sustain any price increase.
Utility is key:
For SHIB to remain relevant, it needs real-world uses (like Shibarium and partnerships) to maintain momentum.#TopCoinsSeptember $SHIB
