Crypto market emergency! SHIB finally can't hold on, is 99% of SHIB tokens going to be destroyed?
As a cryptocurrency, SHIB's market value has exceeded 15 billion USD, and the speed of token destruction has significantly accelerated recently, with a staggering 6220% increase in the amount destroyed in just a few days. Out of the initial total supply of 999 trillion tokens, 410 trillion have been destroyed, leaving only 541 trillion in circulation.
Impact of destroying 99% of tokens
- Impact on price: Theoretically, destroying 99% of the tokens would greatly reduce the supply. Based on the laws of supply and demand, with demand remaining constant or increasing, prices are expected to rise significantly. However, the complexity of the market makes it difficult to accurately predict price trends.
- Impact on the ecosystem: SHIB's chief developer Kusama pointed out that while it is technically feasible, destruction is not a panacea; ecosystem projects like DeFi are equally critical. Rapid destruction could trigger a price surge, leading to market panic and impacting SHIB's long-term development, so a balance must be found between destruction and other development measures such as Shibarium.
Current price and prospects
Despite many uncertainties, SHIB's price is still rising, and experts are optimistic about its future. Technical analysis shows that if it breaks through a certain key point, the price is expected to rise to 0.000045 USD, but to achieve the target of 1 USD, the SHIB community needs to find an ideal balance between token destruction and project development.
Potential Meme coin focus
As a doge concept of Musk, pp is likely to become a potential stock of Meme coins. If market sentiment continues to rise, small funds may tentatively invest in such projects, which could lead to unexpected surprises.