$SHIB Major Action: Destroy 99%, Can It Lead to Wealth or Destruction?
SHIB, the cryptocurrency that became popular through memes, is now a major player with a market cap of 15 billion USD! Moreover, its token destruction rate is astonishing, surging by 6220% in just a few days, with hundreds of trillions of tokens disappearing. Now, only over 500 trillion tokens are left circulating in the market.
Everyone is discussing whether if SHIB really destroys 99% of its tokens, can it surge to 1 USD in one go? Or will this action collapse the entire ecosystem?
SHIB's developer Shytoshi Kusama seems quite calm about this. He said that technically, it can be done, but merely destroying tokens is not enough; it also requires support from other projects within the Shiba Inu ecosystem, such as DeFi.
However, he also warns that the token destruction must be approached carefully, or else the risks could be significant. If the burning is too aggressive and the price of SHIB rises too high, buyers might get scared away, causing the destruction rate to slow down, which would hinder SHIB's developmental path. Therefore, it’s crucial to find a balance so that token destruction and other efforts can be effective.
Currently, SHIB's price is still rising, and experts are optimistic. Technical analysis suggests that as long as a certain key level is broken, the price could potentially rise to 0.000045 USD. However, to reach the peak of 1 USD, the SHIB community must put effort into both destroying tokens and improving projects, finding that perfect balance.
What will the future of SHIB be? Will it be the myth that makes us rich overnight, or will it plunge the entire ecosystem into disaster? Let’s wait and see how this cryptocurrency revolution develops!
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