If they burn 100% we will no longer have people being deceived by cheap charlatanism😁
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simple simon the profiler
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🔥 CAN BURNING 99% OF $SHIB DRIVE IT TO $1 OR BACKFIRE ON ITS ECOSYSTEM? 🤔
The Shiba Inu (SHIB) community has been abuzz with discussions about the possibility of burning 99% of the total SHIB supply 🔥. The idea behind this proposal is to reduce the circulating supply of SHIB, potentially driving up its price to $1 or more 📈.
📊 Here's a breakdown of the current SHIB supply:
- Total supply: 1 quadrillion (1,000,000,000,000,000) - Circulating supply: approximately 550 trillion
If 99% of the total SHIB supply were to be burned, the new circulating supply would be around 5.5 trillion 📊.
🤔 Potential Benefits of Burning 99% of SHIB:
1️⃣ _Reduced Supply_: Burning 99% of SHIB would significantly reduce the circulating supply, potentially leading to higher demand and, in turn, driving up the price 📈.
2️⃣ _Increased Scarcity_: With a reduced supply, SHIB would become scarcer, making it more attractive to investors and potentially leading to increased adoption 🚀.
3️⃣ _Improved Perception_: Burning 99% of SHIB could improve the perception of the project, demonstrating the team's commitment to reducing inflation and increasing the coin's value 🔥.
🚨 Potential Risks of Burning 99% of SHIB:
1️⃣ _Market Volatility_: Burning such a large percentage of SHIB could lead to significant market volatility, potentially causing the price to fluctuate wildly 📊.
2️⃣ _Loss of Liquidity_: Reducing the circulating supply by 99% could lead to a loss of liquidity, making it more difficult for buyers and sellers to trade SHIB 📉.
3️⃣ _Community Backlash_: The decision to burn 99% of SHIB could be met with resistance from the community, potentially leading to a loss of trust and support 🚫.
🔮 Conclusion:
Burning 99% of SHIB is a high-risk, high-reward strategy that could potentially drive the price up to $1 or more 📈. However, it's essential to carefully consider the potential risks and consequences, including market volatility, loss of liquidity, and community backlash 🚨.
Ultimately, the decision to burn 99% of SHIB should be made with caution and careful consideration, taking into account the potential impact on the ecosystem and the community 🤝. $SHIB
