Shiba

Ethereum

Million

Shiba Inu

<div class="watcher-guru">
 <p>Shiba Inu (SHIB) saw a meteoric rise in its price after Ethereum (ETH) co-founder Vitalik Buterin burned almost half of SHIB’s supply in May 2021. Buterin received 50% of SHIB’s supply upon launch and he decided to burn 90% of it while donating the rest to charity. As a result of the massive burn, SHIB’s value skyrocketed, turning many early investors into multi-millionaires, and in some cases, even billionaires.</p>
 <p><strong>Also Read: Shiba Inu: Here’s How to Make $10 Million When it Reaches $0.01</strong></p>
 <p>However, SHIB still has a whopping 589 trillion circulating supply. Many have argued that SHIB’s massive supply is one reason its price would not reach the “one-cent dream.” If SHIB were to reach one cent, or even $1, its market cap would be unrealistically large. In fact its market cap would be bigger than many countries. Hence, burning away the supply is one way of pushing SHIB’s price.</p>
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 <h3 class="wp-block-heading" id="h-what-happens-shiba-inu-burns-99-of-its-supply">What happens Shiba Inu burns 99% of its supply?</h3>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="576" src="https://cdn.thebittimes.com/images/2023/10/14/737e896455c8852146698a372654cd36.webp" alt="Shiba Inu" class="wp-image-113595" srcset="https://cdn.thebittimes.com/images/2023/10/14/737e896455c8852146698a372654cd36.webp 1024w, https://cdn.thebittimes.com/images/2023/10/14/737e896455c8852146698a372654cd36.webp 300w, https://cdn.thebittimes.com/images/2023/10/14/737e896455c8852146698a372654cd36.webp 768w, https://cdn.thebittimes.com/images/2023/10/14/737e896455c8852146698a372654cd36.webp 380w, https://cdn.thebittimes.com/images/2023/10/14/737e896455c8852146698a372654cd36.webp 550w, https://cdn.thebittimes.com/images/2023/10/14/737e896455c8852146698a372654cd36.webp 800w, https://cdn.thebittimes.com/images/2023/10/14/737e896455c8852146698a372654cd36.webp 1160w, https://cdn.thebittimes.com/images/2023/10/14/737e896455c8852146698a372654cd36.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source – Crypto News
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 <p>If SHIB removes 99% of its supply, there would be about 5.4 trillion remaining. If SHIB remains at its current market cap, the cost of each token would rise to about $0.000742. This represents a growth of over 10,800%. If an investor were to buy $1000 worth of SHIB today, and if the team burned 99% of the supply, the investor’s holdings would be worth a whopping $109,117.</p>
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 <p><strong>Also Read: Shiba Inu: Here’s When SHIB Could Reach $0.0001</strong></p>
 <p>However, there is no clarity on how Shiba Inu (SHIB) would actually burn 99% of its supply. The current burn rate is incredibly small and would take centuries to burn such a big amount. Nonetheless, the SHIB team has said on multiple occasions that they are working on a new burn mechanism, which is rumored to burn trillions of tokens every year. If this is indeed true, we may see a drastic decrease in SHIB’s supply in the near future.</p>
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  <li>shiba inu</li>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/shiba-inu-what-happens-if-shib-burns-99-of-its-supply-tbt66301.html">https://thebittimes.com/shiba-inu-what-happens-if-shib-burns-99-of-its-supply-tbt66301.html</a></p>

Shiba Inu: What Happens If SHIB Burns 99% of Its Supply?

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