SHIB Army Unleashed! 馃敟
$SHIB Inu (SHIB), the popular meme-inspired #ShibSoonWillbeOnMoon , has garnered significant attention for its community-driven efforts to reduce its massive token supply through a process known as "burning." This practice involves sending SHIB tokens to inaccessible wallets, effectively removing them from circulation to create scarcity and potentially enhance value.
Burn Rate: As of December 25, 2024, the Shiba Inu burn rate has experienced a notable increase. Data from #Shibarium burn indicates a surge of approximately 97% in the burn rate, with over 6.26 million SHIB tokens incinerated within a 24hrs period. This uptick reflects the community's ongoing commitment to diminishing the circulating supply.
Since its inception, the over 410 trillion tokens have been destroyed, significantly reducing the total supply from its original quadrillion tokens.
Past/Future
The SHIB community has been steadfast in its burn initiatives, for instance, in the month leading up to December 25, 2024, there were 90 burn transactions, averaging 3.60 burns per day鈥攁 slight decrease of 6.79% compared to the previous month. However, the average number of tokens burned daily increased by 152.92% during the same period, indicating larger burn transactions.
"#SH陌B : The Metaverse," and the anticipated launch of the TREAT token, are expected to contribute to increased burn rates and overall ecosystem growth.
The $0.01 Dream: How Much Needs to Be Burned?
Achieving a $SHIB price of $0.01 is a highly ambitious goal that faces significant challenges due to the current circulating supply. With approximately 584 trillion tokens in circulation, reaching $0.01 would necessitate a market capitalization of $5.84 trillion, surpassing the entire #CryptoTrends2024 market's valuation.
To make the $0.01 dream feasible, an enormous reduction in supply is required. Experts suggest that burns would need to occur in the trillions of tokens daily to create the scarcity needed for such a price increase.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.聽See T&Cs.
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