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How Much Will Shiba Inu Cost If 50% of Tokens Are Burned?
Shiba Inu (SHIB) is one of the most popular cryptocurrency projects in the market. This asset has had an incredible price increase in the 2021 bull run. The price of SHIB has increased millions of percentage points since its launch in August 2020 until reaching its all-time high in October 2021. Why Did Shiba Inu Experience a Strong Price Increase in 2021? One of the most important catalysts for SHIB's incredible price increase in 2021 was the massive token burn by Vitalik Buterin. The co-founder of Ethereum received half of SHIB's total supply upon launch. Buterin decided to burn 90% of the tokens he received and donate the remaining portion to charity. Vitalik Buterin's actions have led to a significant decrease in the supply of SHIB. At that time, the demand for SHIB was also very high. Both developments have led to a significant increase in the price of this dog-themed cryptocurrency. Initial investors have made millions of dollars in profit with a minimum investment amount. What is the Asset Price if 50% of Tokens are Burned? Currently, there are about 589 trillion SHIB tokens in circulation. The project will have approximately 294.5 trillion tokens in circulation if 50% of the tokens are burned. Note that the market capitalization of SHIB is still at $15.87 billion. In this scenario, the price of each token will reach $0.00005388. Achieving $0.00005388 from the current price will lead to a price increase of about 99%. This price increase seems significant, but it has not yet reached the all-time high of SHIB, which is $0.00008616. If SHIB's market capitalization increases and the circulating supply decreases, the price of this asset could rise much higher than 0.00005388 dollars. Shiba Inu's main developer, Shytoshi Kusama, also emphasized that burning alone would not drive up the price of SHIB. Burning must be accompanied by a significant increase in demand to achieve a substantial price increase. The SHIB development team is rumored to be researching a new burning mechanism, which is speculated to burn trillions of tokens annually. This new burning mechanism could push the price of SHIB to new all-time highs. DYOR! #Write2Win #Write&Earn $SHIB {spot}(SHIBUSDT)