Shiba Inu’s burn rate plummeted this month with less than 1.5 million tokens being sent to the dead wallet every day. Its price is dropping in the indices after adding an extra ‘zero’ early this month. Its value is hovering around the $0.00000890 mark and could head south further as it failed to attract buying pressure. The dip is making investors stay away from SHIB and look at newer options like Pepe Coin, among others. Nonetheless, even Pepe Coin crashed this week and is down 63% from its all-time high of $0.00000431.
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However, even if Shiba Inu’s burning mechanism increases and removes 1 billion tokens every day, it still has a long way to reach the top. In this article, we will highlight how many years it could take to remove 99% of SHIB’s circulating supply if 1 billion tokens are burned every day.
Shiba Inu: How Many Years Will It Take to Remove 99% Supply If 1 Billion Tokens Are Burned Every Day?
If 1 billion tokens are removed from circulation every day, 365 billion tokens would be sent to the dead wallet. SHIB has a circulating supply of 549 trillion tokens. Burning 1 billion every day won’t help it to remove 99% of its supply in our lifetime.
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Considering that it has 549 trillion tokens in circulation, it could take 547,500 days to burn 99% of its supply. To expand further, the 547,500 days of burning 1 billion SHIB every day takes the tally to 1,500 years.
Therefore, if Shiba Inu burns 1 billion tokens every day, it could take 1,500 years to remove 99% of its circulating supply. If 99% of its circulating supply is removed, only 5.4 trillion tokens could remain in the markets.
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At press time, Shiba Inu was trading at $0.00000890 and is down 1.2% in the 24-hour day trade. SHIB is also down 89.64% from its all-time high of $0.00008616, which it reached in October 2021.