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There are currently 1000 trillion SHIB(A Inu) coins in circulation. Initially, 500 trillion were allocated to the founder of ETH, who subsequently burned 90% of them and distributed the remaining 10%. This leaves approximately 500 trillion SHIB coins still in existence. With such a vast number of coins, reaching a value of 0.01 per coin seems unattainable.๐ฐ๐ฐ
Furthermore, the developers do not possess the remaining coins, making it impossible to implement significant burn strategies. Although the developers have burned a few million coins (approximately $25,000), it's a minuscule fraction compared to the total supply of 500 trillion coins.๐ฐ๐ฐ
In order to potentially reduce the total number of coins and increase the value per coin, it may be necessary for holders to consider burning a portion of their holdings or exploring staking options. However, achieving a significant reduction in the total supply, such as lowering it to 50 trillion or lower, poses considerable challenges.๐ฐ๐ฐ
Suggestions such as burning a percentage of coins, burning staking profits, and implementing transaction-based burns are worthy of consideration. However, it's essential to assess the feasibility and implications of such actions thoroughly.
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