Shiba Inu enthusiasts eagerly await the potential milestone of reaching $1,
spurred by the announcement of Shibarium's plan to start burning SHIB tokens from January 2024. With 70% of transaction fees on the Shibarium layer-2 network allocated to burning SHIB tokens, the prospect of a significant reduction in circulation is tantalizing.
However, even with this burning mechanism in place, the road to $1 for SHIB remains steep. Despite assumptions of Shibarium burning 3 trillion tokens annually, achieving the coveted $1 mark seems elusive within our lifetime due to the vast supply of 589 trillion tokens and relatively limited adoption. Realistically, it would take approximately 98 years for SHIB to reach $1 at this burn rate. Nonetheless,
if Shibarium can substantially increase its token burn rate to over 100 trillion tokens annually, the possibility of SHIB hitting $1 becomes more plausible. Stay tuned as the SHIB community navigates this journey towards the elusive $1 milestone!
