SHIB Major News: 99% Token Burn Plan is Underway
Speaking of SHIB restaurants, it actually refers to Shiba Inu Coin $SHIB , which is really popular now with a market value of 15 billion dollars. Moreover, their token burning speed is incredibly fast, as if they are using hacks.
Initially, there were 999 trillion tokens, and now 410 trillion have been burned, leaving 541 trillion still circulating in the market. In just a few days, the number of burned tokens has increased by 6220 times, which is quite shocking.
Everyone is concerned about how this token burn will affect the price. Some say that burning 99% of the tokens might make the price of the SHIB restaurant skyrocket to 1 dollar.
But others worry that this might confuse the community. Experts have stated that in order to reach 1 dollar, a balance must be found between token burning and ecosystem development.
The chief developer of the SHIB restaurant, Yayoi Kusama, also mentioned that technically, there is no problem with burning tokens, but it shouldn't be overdone.
It needs to develop alongside other Shiba Inu projects, such as DeFi projects and Shibarium. If the burning happens too quickly and the price skyrockets, new buyers may hesitate to purchase, causing the burn rate to slow down, which would be detrimental to SHIB's long-term development.
From a technical perspective, the price of the SHIB restaurant is currently on the rise. Some say that if it breaks through a certain key point, the price could continue to rise, possibly reaching 0.000045 dollars. However, to reach 1 dollar, a good method must be found to balance token burning and ecosystem development.
Currently, the entire cryptocurrency circle is engaged in token burning, with the SHIB restaurant being a leader in this effort. Developers and the community must work together to build a sustainable ecosystem for long-term development.
Investors should also look for other opportunities. For instance, there’s a token called #puppies that is related to Elon Musk’s pet business, and it's rumored to potentially double by the end of the year, or even rise more. Many people are keeping an eye on such high-potential assets, hoping for a return of 10 to 1000 times.
Overall, the SHIB restaurant's plan to burn 99% of the tokens aims to reduce supply and increase prices. However, attention must also be paid to ecosystem development to instill confidence in investors. This way, the future of the SHIB restaurant can be more stable.
