
The Shibarium layer-2 network will start burning SHIB tokens in January 2024, the Shiba Inu team stated on Monday. For a more thorough understanding, go this link to find out more about how many SHIB tokens Shibarium will burn annually.
As per the most recent blog post, SHIB tokens will be burned with 70% of transaction fees on Shibarium. The remaining 30% of the money will go towards network maintenance, which keeps it operating smoothly and effectively.
Fees will be collected by Shibarium in the governance The network uses the bone token, which is utilised as gas to carry out transactions. Following that, bone tokens will automatically change to SHIB.Following conversion, SHIB tokens will be burned by Shibarium and taken out of circulation forever.
But now that it's official that Shibarium will burn SHIB tokens, is there any chance Shiba Inu will hit $1? This article will discuss how long it could take a Shiba Inu to reach the $1 threshold due to Shibarium burns.
How Long Will It Take Shiba Inu To Reach $1?
Even if everything goes according to plan and Shibarium burns 3 trillion tokens year, SHIB will never hit $1 within our lifetimes. Here, the dynamics are different as there would still be an abundance of supply and a scarcity of demand.
As a point of reference, Shiba Inu has 589 trillion tokens in use and is hardly just 1.3M.
In conclusion, it would take 98 years for Shiba Inu to achieve $1, even if Shibarium burns 3 trillion SHIB tokens annually. It's just not feasible during our lifetimes. But Shiba Inu won't have any chance of reaching $1 before our lifetimes unless Shibarium is able to burn over 100 trillion tokens annually.
🫂Remember: Your Generous Tips would Empower our Mission and help us to work even Harder for you to give Best Investment Advice
