SHIB rumors speculate 99%, why hasn't there been a skyrocketing rise?
Recently, there has been a lot of good news about Shiba Inu coin (SHIB), attracting many retail and institutional investors to buy. Especially, there is a big news saying that 99% of SHIB tokens might be burned (i.e., destroyed), which has made the market very excited. Now, the market cap of SHIB has reached 15 billion USD, and the token burning rate is very fast, with a large number of tokens destroyed in just a few days.
However, a researcher named Yayoi Kusama reminds us that although it is technically possible to destroy so many tokens, it is not a panacea. The ecological projects of SHIB are also very important, such as DeFi. If too many tokens are destroyed at once, it may cause the SHIB price to rise too high, which might scare off potential buyers, which would not be good for the development of SHIB.
Currently, SHIB's price is still rising, and experts are optimistic. Technical analysis suggests that as long as SHIB can break through a certain point, the price may continue to rise. However, to reach such a high price of 1 USD, the SHIB community must find a balance between burning tokens and improving ecological projects, which requires the joint efforts of the community and a deep understanding of the market and investor psychology.
All in all, I think the value of a coin depends on how strong its ecosystem is, whether it is continuously upgrading and developing, and whether it is being used by many people. The voices in the market, to some extent, are not the key to determining the coin price.
I personally have a very optimistic outlook on Shiba Inu coin and have been buying at low prices to hold long-term. I believe it will perform well in the future.
