$SHIB Major Moves: Burning 99%, Will It Lead to Wealth or Destruction?

SHIB, the cryptocurrency that became popular through memes, now has a market capitalization of 15 billion dollars! Moreover, its token burning rate is astonishing, having increased by 6220% in just a few days, with trillions of tokens disappearing in the process, leaving only over five hundred trillion in circulation.

Everyone is discussing whether if SHIB really burns 99% of its tokens, can it surge to 1 dollar? Or will this action collapse the entire ecosystem?

SHIB's developer Shytoshi Kusama seems quite calm about it, stating that technically it can be done, but simply burning tokens isn’t enough; they also need other projects in the Shiba Inu ecosystem, like DeFi, to assist.

However, he also warns that token burning needs to be approached carefully, or else the risks could be significant. If the burning is too aggressive and SHIB's price rises too high, buyers could be scared away, leading to a slowdown in the burning rate, hindering SHIB's development. Therefore, it's essential to find a balance that allows burning and other efforts to work effectively.

Currently, SHIB's price is still rising, and experts are optimistic. Technical analysis suggests that as long as it surpasses a certain key position, the price could potentially reach 0.000045 dollars. However, to reach the peak of 1 dollar, SHIB's community must put effort into burning tokens and improving projects, finding that perfect balance.

What does the future hold for SHIB? Will it be a myth that makes us wealthy overnight, or will it lead the entire ecosystem into disaster? Let’s wait and see how this cryptocurrency revolution unfolds!

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