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Shibarium speculates that if it burns 100 tons of SHIB annually, the price of Shiba Inu could potentially reach $0.005 and even $0.025. However, Shiba Inu's attempt to replicate its staggering rise in 2021 faced a significant hurdle in the form of circulating supply.
SHIB managed to regulate its price trajectory from 2020 to 2021 through a combination of increasing demand and bullish market momentum. Yet, a crucial factor enabling this surge was its low market cap, which stood at just $11,359 in January 2021 according to CoinGecko. This modest market cap signaled growth potential for SHIB, ultimately soaring to $36 billion by October 2021.
However, surpassing its all-time high of $0.00008 presents a formidable challenge for further upward swings in this valuation. Consequently, reducing circulating supply and creating room for additional growth are necessary for Shiba Inu to experience a similar price surge.
#Shibalnu #ShibaArmy #CryptoWatchMay2024 #tbttoken
Shibarium speculates that if it burns 100 tons of SHIB annually, the price of Shiba Inu could potentially reach $0.005 and even $0.025. However, Shiba Inu's attempt to replicate its staggering rise in 2021 faced a significant hurdle in the form of circulating supply.
SHIB managed to regulate its price trajectory from 2020 to 2021 through a combination of increasing demand and bullish market momentum. Yet, a crucial factor enabling this surge was its low market cap, which stood at just $11,359 in January 2021 according to CoinGecko. This modest market cap signaled growth potential for SHIB, ultimately soaring to $36 billion by October 2021.
However, surpassing its all-time high of $0.00008 presents a formidable challenge for further upward swings in this valuation. Consequently, reducing circulating supply and creating room for additional growth are necessary for Shiba Inu to experience a similar price surge.
#Shibalnu #ShibaArmy #CryptoWatchMay2024 #tbttoken