đŸ’„đŸ’„đŸ’„ Here’s What #shibaInu Price Could be If Someone Burns 410T $SHIB Like Vitalik

Shiba Inu (SHIB) has long been influenced by the broader market, closely mirroring Bitcoin's (BTC) price trends since its inception. As of now, SHIB is down 80.6% from its all-time high (ATH) of $0.00008845.

In addition to market trends, SHIB's price is affected by factors like demand and token burns. Historically, a combination of high demand and reduced supply through token burns has driven SHIB's price increases. A notable instance was in May 2021 when Ethereum co-founder #VitalikButerin burned 410 trillion SHIB tokens, which was over 41% of the total supply.

This event, coupled with existing upward momentum, contributed to SHIB's ATH of $0.00008845 in October 2021.

Impact of Another 410 Trillion SHIB Burn

- The Shiba Inu community has continued to burn tokens, though at a slower pace. To understand the potential impact of burning another 410 trillion SHIB tokens, we can evaluate how this would affect SHIB's price.

- Currently, SHIB has a market cap of $10.07 billion with a circulating supply of about 589 trillion SHIB. Burning 410 trillion SHIB would reduce the circulating supply to approximately 179 trillion SHIB.

This major reduction in supply could influence SHIB's price in different ways depending on changes to the market cap:

1. If Market Cap Increases Proportionally: If the market cap grows in proportion to the reduced supply, the price could rise significantly. Given a supply ratio of 3.29 (589 trillion divided by 179 trillion), the market cap would adjust to $33.12 billion. With this new market cap and a reduced supply of 179 trillion, SHIB's price could increase to around $0.000185, a 983% rise from its current value.

2. If Market Cap Remains Unchanged: If the market cap stays at $10.07 billion despite the burn, the price would be less dramatic. At this market cap and a reduced supply of 179 trillion, SHIB's price would be about $0.0000562. While this reflects a significant increase from the current price, it would still fall short of the #ATH .