🔥 Buying a Shiba is okay, but don't keep it for real!"😆
Shiba Inu (SHIB) through token burning. I notice several key points as follows:
1:The extremely large circulating supply of SHIB tokens (589 trillion tokens) is a major obstacle to significant price appreciation.
2:Token burning to reduce supply is a potential solution, but the current burning mechanism is not yet effective enough.
3:Assuming 50 trillion tokens are burned each year, it could eliminate 90% of the circulating supply in a few years, potentially helping SHIB reach $0.0001 - $0.0003.
4:However, SHIB's lead developer emphasizes that token burning alone is insufficient; increased demand combined with low supply is needed.
5:The task of increasing SHIB's price is challenging but not impossible, and SHIB still has potential for growth compared to its rival Dogecoin.
*Overall, your analysis highlights the challenges and opportunities for SHIB to increase in price through supply management and demand growth. The key is to strike a balanced approach between these factors.
