Can Shiba Inu Burn Enough Tokens to Hit $1?
Shiba Inu (SHIB) fans and investors have long pursued higher prices for the popular cryptocurrency. The one-cent and $1 price points are particularly popular targets for the Shiba Inu community. The one barrier holding SHIB from hitting the one-cent or $1 target is the project’s massive supply. There are about 589 trillion SHIB tokens in circulation. If the price of each token hits $0.01 or $1, the project’s market cap would reach an unrealistic high figure. The only way for the coin to hit the $1 mark is for the project to drastically reduce its supply. Can Shiba Inu Burn Enough Tokens to Hit the $1 Mark? Source: Craiyon.com One of the most substantial catalysts for SHIB’s incredible 2021 rally was Vitalik Buterin‘s token burn. The Ethereum co-founder received half of SHIB’s entire supply after launch. Buterin decided to burn 90% (around 410 trillion) of the coins he received. The move led to a massive supply dip and a sudden rise in prices. It is highly u...