Shiba Inu

<ul><li>SHIB price is down 80.6% from ATH, influenced by market trends, demand, and token burns.</li><li>Vitalik Buterin&#39;s 2021 burn of 410T SHIB spiked prices, reaching ATH in October 2021.</li><li>Recent SHIB burns surged 348%, transferring 21M tokens to unspendable wallets.</li></ul><a href="https://cryptotale.org/analyst-predicts-imminent-shiba-inu-rally-to-0-00005-key-price-levels-to-watch/" rel="noopener noreferrer nofollow">Shiba Inu</a> (SHIB), which has mirrored Bitcoin’s (BTC) trajectory since its launch, has experienced numerous price fluctuations. Currently, the meme coin is down 84.29% from its all-time high (ATH) of $0.00008845. Notably, SHIB&#39;s price dynamics are influenced not only by broader market trends but also by unique market demand and token burns. A strategic combination of increased demand and reduced supply could significantly enhance SHIB&#39;s market performance.In May 2021, Ethereum co-founder Vitalik Buterin burned 410 trillion SHIB tokens, accounting for over 41% of the total supply. This significant event occurred while SHIB was already on an upward trend, which was further accelerated by the burn, ultimately leading to the ATH of $0.00008845 in October 2021.If a similar burn occurred today, the impact on SHIB&#39;s price would be noteworthy. The current supply ratio between the old supply (589 trillion) and a hypothetical new supply (179 trillion) stands at 3.29. This is calculated by dividing the old supply by the new supply. By applying this ratio to the current market cap of $10.07 billion, SHIB&#39;s market cap would potentially rise to $33.12 billion. Consequently, if the market cap increased proportionally to $33.12 billion with a new circulating supply of 179 trillion, SHIB&#39;s price could reach $0.000185, marking a 983% increase from its current value.<a href="https://cryptotale.org/shib-burns-and-market-cap-dynamics-could-lead-to-a-983-price-increase/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

SHIB Burns and Market Cap Dynamics Could Lead to a 983% Price Increase

CryptoTale

2024年7月6日公開の他の記事

Trapped in Market Correction? 3 Altcoins to Restore Your Portfolio Value

MoonBag's Scalability Sets a Trend, Igniting Kangamoon and Cardano with Envy

Bitcoin Drops Below $58,000 for First Time in Two Months Amid Major Liquidations

Bitcoin Spot ETFs See Significant Inflows Amid Market Rebound

Justin Sun MoveS to Ease Bitcoin Selling Pressure with $2.3B Purchase Offer

Shiba Inu (SHIB) Hits Key Support Amid Declining Whale Activity

ニュースレターを購読して暗号資産の最新情報を毎日入手！