Amid the rising speculations of Shiba Inu’s potential ascent to the $0.01 price level, crypto enthusiasts seemed to doubt the possibility of such a price projection playing out.
Considering Shiba Inu’s massive supply, the chances of Shiba Inu attaining a $0.01 price level would always generate diverse reactions and opinions.
For Context, Shiba Inu boasts a circulating supply of 589,331,741,009,888 SHIB tokens from a total pool of 999,984,530,358,958 coins.
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Notably, Shiba Inu’s massive supply pool has been highlighted as the crypto asset’s major setback. Addressing the issue of SHIB’s enormous supply remains crucial if the crypto asset’s price must attain reasonable price highs.
In light of the above, TimesTabloid has taken it upon itself to analyze Shiba Inu’s burn rate, which would be sufficient to potentially catapult SHIB’s price to a $0.01 price level.
Shiba Inu’s Path To A Potential $0.01 Price Mark
Shiba Inu’s route to $0.01 might appear impossible, but it is still attainable. Based on mathematical analysis, Shiba Inu’s current market capitalization of almost $5 billion must spike to around $5.8 trillion to accommodate SHIB at $0.01 per token.
Intriguingly, a $5.8 trillion market cap would place SHIB ahead of tech behemoths such as Apple.
As the chance of SHIB reaching $0.01 becomes more speculative than real with each passing day, a known analytic platform has projected a $0.62 SHIB price to happen by 2050.
Time Frame For SHIB’s Ascent To $0.01 with Current Burn Rate
At the time of writing, SHIB burn data indicated a burn rate of around 20.55% and a total of about 412,320,066 SHIB tokens incinerated in the past 24 hours. Thus far, 410,657,707,991,227 Shiba Inu tokens have been removed permanently from circulation.
Based on calculations that involve removing the total number of burned SHIB tokens and a burn rate of approximately 412 million SHIB tokens per day, Shiba Inu would require almost 4,000 years to reduce SHIB’s total supply to about 100 billion, which would accommodate the $0.01 projected price target.
Did the number of years above make it seem impossible to reach $0.01? Shiba Inu (SHIB) burn has to increase massively to make this happen. The good news is that Shibarium comes with promises to help in that aspect.
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Meanwhile, per a recent news article, Shiba Inu’s list of top burners surfaced. According to the list, Vitalik Buterin, the Ethereum co-founder, was ranked top ahead of the remaining four.
The Ethereum co-founder reportedly contributed to moving about 410.24 trillion SHIB tokens worth $3.41 billion to the furnace sometime in 2021.
Other platforms recognized to have contributed immensely to Shiba Inu’s burn campaign include Blaze Token (BLZE), MARSWAP (MSWAP), Koyo Token (KOY), and Mysterious Wallet.
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