$SHIB Ability to reach Maximum
$SHIB , originally launched with a staggering 1 quadrillion tokens, has an intriguing story behind its supply.
Back in May 2021, SHIB's anonymous creator, known as "Ryoshi," decided to transfer half of the total supply to Ethereum co-founder, Vitalik Buterin.
In a bold move, Buterin burned 90% of these tokens, removing them from circulation permanently. The remaining 10%? He generously donated it to a charitable cause.
Unlike some other cryptos, SHIB doesn’t have a built-in burning or halving mechanism to reduce its circulating supply further.
In 2021, SHIB became a hot topic due to its extreme volatility. In mid-May of that year, its price skyrocketed by nearly 2,000%, jumping from a modest $0.00000160 to around $0.00003450.
However, like many speculative assets, this surge was followed by a sharp correction, dropping back to approximately $0.00000850 within a few weeks.
After a quiet period of relatively stable prices, SHIB made another big move on October 2, 2021, soaring from $0.00000760 to about $0.00002850 within a span of 11 days.
The frenzy peaked on October 28, when SHIB hit its current all-time high of $0.000088. However, a market correction soon followed, bringing the price back down.
In summary, SHIB's journey has been one of dramatic highs and lows, capturing the attention of traders worldwide.
While it lacks a mechanism to reduce its supply further, its volatile nature has made it a memorable player in the crypto space.
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