Shiba Inu: 4.5 Billion SHIB To Be Burned, Will Price Hit $0.00004?

In keeping with Shiba Inu (SHIB) crew member Lucie, the undertaking will undertake a major burn quickly. Lucie took to X and shared with the SHIB group that the crew has collected 40 ETH, price round $158,200, to buy tokens for burning functions.

$158,200 would get round 4.5 billion SHIB tokens. Sending such a major quantity of cash to the lifeless pockets may result in a spike in SHIB’s burn price. SHIB’s burn price is at the moment down by 67.04%, burning 48 million tokens within the final 24 hours.

Will Shiba Inu (SHIB) hit $0.00004 after burning 4.5 billion tokens?

Though 4.5 billion tokens is a major quantity, it’s nonetheless tiny in comparison with SHIB’s circulating provide. The undertaking has round 589 trillion tokens in circulation proper now. Given the ratio of tokens for burning and the variety of tokens in circulation, we would not see an enormous value spike.

Furthermore, though Shiba Inu (SHIB) has seen burn price spikes after rallies, the asset has seldom seen a value spike after a burn price surge.

Nevertheless, the SHIB crew is engaged on a brand new burn mechanism, rumored to burn trillions of tokens yearly. Nevertheless, the crew has not disclosed the launch date of the brand new burn mechanism. If the undertaking can drastically cut back its provide, there’s a likelihood that we’ll see an increase in costs.

One of many greatest catalysts for Shiba Inu’s (SHIB) epic 2021 rally was Vitalik Buterin’s large SHIB burn. Buterin obtained half of SHIB’s provide upon the undertaking’s launch. Nevertheless, the Ethereum (ETH) co-founder determined to burn 90% of the tokens he obtained, considerably decreasing SHIB’s provide.