Many factors influence if a project can be successful in the cryptosphere. A solid white paper, a strong team, and even ample funding can help pave the way to a successful launch. One factor that should never be overlooked in this realm is the growth and commitment of the community behind a token.
A strong community can create value in a project that otherwise would be worthless. One community proved just that as the #shibarmy took their meme coin and made it a successful ecosystem. Shiba Inu, referred to as the "Dogecoin Killer", has made great strides to develop their platform and economy, mostly due to Shib developers listening to their community and delivering what the community wants.
Shiba Inu was launched with a massive 1 quadrillion token supply. It's difficult to put that number into perspective, but if you considered it as time, with each token being 1 second, that would equate to over 31 million years! This fact was one of the top worries for Shib holders who believe the sheer volume of coins will continue to be a hinderance on the token's price. As a result, the community and it's developers are devoted to burning some Shib for the greater good of the platform.
Building on top of the community driven burn efforts, Shiba Inu launched a burn portal for all HODLers to be able to decrease the total token supply while simultaneously earning Ryoshi Rewards. A whopping 49.5 billion Shib have already been burned! (Before you get too excited, that's only about 1,550 years of the 31 million I referenced earlier.) However, as long as the community is willing to put their money where their mouth is and this number can continue to climb, the total token supply could come down tremendously.
Shiba Inu's token, SHIB, was first listed in 8/2020 with a measly listing price of $0.00000000051 USD. It dropped some zeros as it reached it's all time high on 10/28/2021 with a price of $0.00008845 USD. Despite all of the red in the crypto market, Shib is yet to gain a zero back with it currently trading at $0.00001153 USD on 5/21/22 9:00AMEST.
Prior to making any financial decisions or investments, please makes sure to do your own research to ensure you are investing in legitimate projects. If you would like to learn more about Shiba Inu, consider checking out their website here. Make sure to download a copy of their WooF Paper (white paper) on their website and read all the juicy details. Don't forget to assert your social dominance when you check out their Twitter, Reddit, and Discord.