Shiba Inu: What’s SHIB’s Price If 90% Of Tokens Are Burned?
Shiba Inu (SHIB) had one of the greatest runs during the 2021 bull run. The asset’s price rallied by many million percent within a few months after its launch. Early investors made millions of dollars in profit with minimal investments. The rags-to-riches stories around SHIB solidified its status as a “millionaire-maker.”
Also Read: Shiba Inu: SHIB Price Prediction 10 Years From Now
Why Did Shiba Inu Rally So High In 2021?
One of the most significant catalysts for SHIB’s incredible rally in 2021 was Vitalik Buterin‘s massive token burn. The Ethereum co-founder received half of SHIB’s supply upon launch. Buterin decided to burn 90% of the tokens he received. Buterin gave the remaining 10% of the tokens to charity.
Also Read: Will GTA 6 Accept Crypto Payments?
Buterin’s actions led to a substantial dip in the asset’s supply. At the time SHIB’s demand was pretty high as well. Both developments led to a significant price rally for the token.
What Is The Asset’s Price If 90% Of The Tokens Are Burned?
There are about 589 trillion SHIB tokens in circulation right now. If 90% of tokens (530.1 trillion) are burned, the project will have about 59 trillion coins in circulation.
Let’s consider that SHIB’s market cap remains the same at $9.17 billion. In this scenario, the price of each SHIB token will be around $0.000155. Hitting $0.000155 will be a new all-time high for SHIB. The price of each coin will increase by around 896.14% from current levels.
Also Read: Top 3 Cryptocurrencies To Watch If You Like Solana
If Shiba Inu’s (SHIB) market cap increases from current levels, the price of each token will go much higher than 896.14%. Lead developer Shytoshi Kusama also pointed out that burns alone will not push the asset’s price. Burns have to be met with a rise in demand as well.
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Shiba Inu: What’s SHIB’s Price If 90% Of Tokens Are Burned?
Shiba Inu (SHIB) had one of the greatest runs during the 2021 bull run. The asset’s price rallied by many million percent within a few months after its launch. Early investors made millions of dollars in profit with minimal investments. The rags-to-riches stories around SHIB solidified its status as a “millionaire-maker.”
Also Read: Shiba Inu: SHIB Price Prediction 10 Years From Now
Why Did Shiba Inu Rally So High In 2021?
One of the most significant catalysts for SHIB’s incredible rally in 2021 was Vitalik Buterin‘s massive token burn. The Ethereum co-founder received half of SHIB’s supply upon launch. Buterin decided to burn 90% of the tokens he received. Buterin gave the remaining 10% of the tokens to charity.
Also Read: Will GTA 6 Accept Crypto Payments?
Buterin’s actions led to a substantial dip in the asset’s supply. At the time SHIB’s demand was pretty high as well. Both developments led to a significant price rally for the token.
What Is The Asset’s Price If 90% Of The Tokens Are Burned?
There are about 589 trillion SHIB tokens in circulation right now. If 90% of tokens (530.1 trillion) are burned, the project will have about 59 trillion coins in circulation.
Let’s consider that SHIB’s market cap remains the same at $9.17 billion. In this scenario, the price of each SHIB token will be around $0.000155. Hitting $0.000155 will be a new all-time high for SHIB. The price of each coin will increase by around 896.14% from current levels.
Also Read: Top 3 Cryptocurrencies To Watch If You Like Solana
If Shiba Inu’s (SHIB) market cap increases from current levels, the price of each token will go much higher than 896.14%. Lead developer Shytoshi Kusama also pointed out that burns alone will not push the asset’s price. Burns have to be met with a rise in demand as well.
Read More