Shiba Inu Needs a 13,000% Rocket Surge to Hit $0.001. Can SHIB Burn Make this Happen? Details

Despite holders of Shiba Inu (SHIB) ongoing optimism that the price of SHIB could experience an substantial hike, it is unlikely the asset will manage to reach its highest ambitions of $0.001 due to its existing circulating supply being 579 trillion tokens. The ShebArmy community suggests that token burns of SHIB would counteract this ballooning token supply, but since Vitalik Buterin’s one single burn of 410 trillion being at the time of writing, events of such magnitude have yet to take place to reduce to more achievable price of $0.001. The SHIB’s use case must also see improvement for any significant increase in price to occur, suggesting a sudden investment of resources in uptake rather than theoretical lofty rises. In summary, Shiba Inu could potentially reach the price target mentioned, but further evidence of broadened use cases and repeated large scale token burns need to take place before SHIB reaches a equilibrium where such prices can achieved. at are currently sustaining its current market capitalizable.

Robert Wilson author
Articles: 12200