shiba burn

How much SHIB do you need to burn to reach 0.01?

By Makingdigital | makingdigitals | 12 Mar 2024


The Shiba Inu cryptocurrency has once again created a tornado in the market that has revitalized a community that is getting stronger every day. A hobby that does not stop in the face of uncertainty, criticism and the price fluctuations that SHIB has had.

Increasingly closer to reaching its ATH, 5 points remain from those 0.00008 that made many think that it could surpass one cent on the dollar.

The SHIB cryptocurrency needs a lot of liquidity to reach that milestone. Frankly, it is almost impossible for me to achieve this in this bullish rally.

One of the problems SHIB faces is supply. If we look at the data provided by the SHIBBURN portal, there are still 582.41 trillion Shiba Inu in circulation. It is an overwhelming fact.

The amount burned of SHIB since its birth until now corresponds to the figure of 410.70 trillion. As we see, almost half of the coins from the total supply have been moved to the dead wallet. Still it's not enough.

In the last 24 hours more than 41 million tokens have been burned. With this momentum it has had, Shiba Inu's burning has accelerated, but we have to remember that it came from being very stopped. Something that the community was not liking. The most important mark for this cryptocurrency is touching the long-awaited 0.01 cents.

The market is unpredictable, a bull run for memecoins was not expected until altcoins caught up with Bitcoin. It has not happened. Meme coins have taken the lead.

How many more SHIB do you have to burn to touch the 0.01?


Focusing on burning alone, approximately another 500 trillion tokens would have to be removed from circulation. Something unfeasible in 3 months. This is why Shiba Inu-loving investors promote patience and a long-term vision for the token, hoping that in 4 or 5 years it can catch up with Dogecoin.

The puppy cryptocurrency, remember that it has more than 141 billion supply, which is infinite. If it hadn't been for the marketing that Elon Musk has practiced, we would hardly have seen Dogecoin touching the penny.

Therefore, for SHIB to touch 0.01, it still has to burn a lot, so much so that it escapes the short term. It's reality.

The best scenario for speculators of this cryptocurrency is that this Altcoin rally consolidates for several weeks and that SHIB is close to all-time highs to take profits.

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Makingdigital
Makingdigital

Entrepeneur, writer and Cryptolover. My site in Spanish Coindallas.com


makingdigitals
makingdigitals

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