Friday, July 18, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

Can SHIB Hit $0.1, If 50 Trillion SHIB Are Burnt Yearly?

Simon Osuji by Simon Osuji
May 9, 2024
in Business
0
Can SHIB Hit $0.1, If 50 Trillion SHIB Are Burnt Yearly?
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

Shiba Inu (SHIB) is one of the most popular cryptocurrencies in the market. The asset turned many early investors into multi-millionaires. Since its launch in August 2020, SHIB’s price has risen by many million percent. However, the popular dog-themed crypto has struggled to gain momentum after its 2021 peak.

One of the most significant barriers to SHIB’s price is its massive supply. There are about 589 trillion SHIB tokens in circulation. If the asset’s price becomes very high, the project’s market cap would become unrealistically large. Hence, the project needs to reduce its supply to aim for higher prices.

Also Read: Shiba Inu: Can SHIB Hit an All-Time High in May 2024?

Although Shiba Inu (SHIB) has a burn portal, it does not burn as many tokens as needed to hit higher prices. However, with the launch of SHIB’s layer-2 network Shibarium, there is a lot of talk about burns spiking.

Shiba Inu: What Happens If 50 Trillion SHIB Tokens Are Burned Each Year?

shiba inu shib eclipseshiba inu shib eclipse
Source: Twitter

If Shiba Inu (SHIB) burns 50 trillion tokens yearly, it could remove 90% of the tokens in circulation within a few years. The asset would have about 49 trillion tokens in circulation in the market. This can only help SHIB to reach a price point of approximately $0.0001 to $0.0003.

Furthermore, SHIB’s lead developer, Shytoshi Kusama, said burns alone will not push the asset’s price. The asset also requires an increase in demand. Low supply and high demand is the trick to higher prices.

Also Read: Shiba Inu vs. Bank Savings: Which Is a Better Investment?

Nonetheless, the task is not an impossible one, albeit difficult. Shiba Inu (SHIB) has come a long way in its two-and-a-half-year history. It is still a young project that has a lot of room to grow. SHIB’s rival, Dogecoin (DOGE), on the other hand, has been around for over a decade.

Source link

Related posts

Top 10 African countries with the lowest diesel prices in July 2025

Top 10 African countries with the lowest diesel prices in July 2025

July 18, 2025
Widespread fraud within the Dangote network puts a halt to his discount plans

Widespread fraud within the Dangote network puts a halt to his discount plans

July 18, 2025
Previous Post

Ellsworth Kelly retrospective in Paris celebrates artist’s handling of shape, colour and feeling

Next Post

Defections alone won’t break ISWAP terror group

Next Post
Defections alone won’t break ISWAP terror group

Defections alone won’t break ISWAP terror group

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Binance Coin (BNB) Mid-September Price Prediction

Binance Coin (BNB) Mid-September Price Prediction

10 months ago
Tesla Is Recalling Nearly All Vehicles Sold in US to Fix an Autopilot Fault

Tesla Is Recalling Nearly All Vehicles Sold in US to Fix an Autopilot Fault

2 years ago
L3Harris to Enhance F/A-18’s Electronic Warfare Capabilities

L3Harris to Enhance F/A-18’s Electronic Warfare Capabilities

2 years ago
Rise in Deepfake Fraud Reported by Crypto Companies – IT News Africa

Rise in Deepfake Fraud Reported by Crypto Companies – IT News Africa

2 years ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • Tanzania’s natural gas sector goes global with Dubai deal

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.