Breaking news in the crypto world! SHIB finally can't hold on any longer, is 99% of SHIB tokens going to be burned?

As a cryptocurrency, SHIB's market value has surpassed $15 billion, and the pace of token burning has significantly accelerated recently, with the amount burned surging by 6220% within just a few days. From the initial total supply of 999 trillion tokens, 410 trillion have been burned, with only 541 trillion remaining in circulation.

Impact of burning 99% of tokens

- Impact on price: Theoretically, burning 99% of tokens would greatly reduce the supply. According to the law of supply and demand, with demand remaining constant or increasing, prices are expected to rise significantly. However, in reality, the complexity of the market makes it difficult to predict price movements accurately.

- Impact on the ecosystem: SHIB's chief developer Kusama pointed out that while technically feasible, burning is not a cure-all, and ecosystem projects like DeFi are equally critical. Rapid burning could trigger a price spike that causes market panic, thus affecting SHIB's long-term development. Therefore, it is necessary to find a balance between burning and other development measures like Shibarium.

Current price and outlook

Despite various uncertainties, SHIB's price is still rising, and experts hold an optimistic view of its future prospects. Technical analysis shows that if it breaks through a certain key point, the price could rise to $0.000045. However, to achieve the $1 target, the SHIB community needs to find an ideal balance between token burning and project development.

Potential meme coin focus

As a concept related to Musk, the puppy PP could potentially become a promising meme coin. If market sentiment rises further, small investors may tentatively invest in such projects, which might yield unexpected surprises. Recently, I have been targeting the potential coin Puppies on the Ethereum chain, feel free to keep an eye on it!