Can $SHIB Reach $0.000052?

When Shiba Inu (SHIB) launched in August 2020, its team allocated half of the project’s tokens to Ethereum co-founder Vitalik Buterin. Buterin chose to burn 90% of the tokens he received, donating the remainder to charity. This burn amounted to about 410 trillion tokens, causing a significant surge in SHIB’s price.

Currently, there are approximately 589 trillion SHIB tokens in circulation. If another 400 trillion SHIB tokens were burned, the circulating supply would reduce to about 189 trillion. With SHIB’s market cap of around $10 billion, this could potentially increase the price to $0.00005291.

However, this large-scale burn is difficult and needs many SHIB holders worldwide to participate.

Shiba Inu Price Analysis

As of now, Shiba Inu’s price has shown a slight recovery, rising by 2.04% to trade at $0.00001742. Meanwhile, the increase in trading volume by 15% to $223.22 million indicates strong investor interest.

Additionally, the token’s open interest has climbed nearly 4% to $33.73 million, showing strong market sentiment and engagement.

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