🐕 How Many Years Will It Take Shiba Inu To Reach $1? 🚀
🔥 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. $SHIB 📈$SOL
