Shiba Inu has a circulating supply of 549 trillion tokens that’s making its price crawl in the indices. There are simply way too many SHIB tokens that are up for grabs making it a relatively cheaper asset to own. SHIB needs to burn trillions of tokens and make its supply scarce to even think about reaching the $0.01 mark. The fewer tokens available in the market will automatically drive demand making Shiba Inu sustainably scale up in price.
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However, that’s not happening currently as the burns are meager with only a few million tokens being sent to the dead wallet. The Shibarium layer-2 network was touted to burn trillions of SHIB tokens but is yet to initiate large-scale burns.
What happens if Shibarium magically starts burning 100 trillion Shiba Inu tokens every year? In this article, we will highlight how high Shiba Inu can move in the charts if Shibarium burns 100 trillion tokens a year.
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Shiba Inu: What Happens If 100 Trillion SHIB Tokens Are Burned Each Year?
If Shibarium burns 100 trillion SHIB tokens a year, 500 trillion coins in circulation will be sent to the dead wallet. That’s removing 90% of tokens in the next year years. The development will leave Shiba Inu with another 49 trillion tokens in circulation in the market. This can only help SHIB to reach a price point of approximately $0.0001 to $0.0003.
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Shiba Inu reaching $0.01 with these many burns cannot be a reality as there’s not much money in the markets. Apple Inc has a market cap of $286 trillion and Microsoft’s market cap stands at $3.02 trillion. These two tech giants are world-renowned that produce actual jobs and technology in the real world.
On the other hand, SHIB is only an ERC-20 token and must beat Apple, Microsoft, Tesla, and Google’s Alphabet combined market cap to reach the $0.01 mark. SHIB’s market cap must reach $500 trillion to even consider hitting the $0.01 milestone.
Therefore, SHIB has a chance of reaching $0.01 only if 99% of its circulating supply is burned. Even removing 90% of tokens in circulation might not help it reach the 1-Cent mark.