Shiba Inu Could Reach $0.01 or $0.001 If 9T SHIB: Shiba Inu might reach really high prices in the next few years if its special network called Shibarium burns a lot of the meme coin’s supply. Some estimates say it could go up to $0.01 or even $0.001 per coin because there would be less of the coin available.
Shibarium Adoption Accelerates SHIB Destruction
Shibarium started in August 2023 and got Shiba Inu fans excited. But it really took off in late November 2023, handling millions of transactions.
Shibarium has more possibilities than just burning SHIB tokens. People were excited for it to launch because it would help burn SHIB tokens more effectively. According to the information, when you use Shibarium, 70% of the SHIB tokens you spend get destroyed as a transaction fee.
At first, the Shibarium burns weren’t big. The first one destroyed 8.24 billion SHIB, worth $75,241, on December 4. But later on, burns happened faster. By December 23, a total of 33.8 billion SHIB were burned in four transactions. Another burn on January 9 got rid of 9.93 billion more. Now, developers want to set up automatic burns. How might this affect prices?
Reducing SHIB supply
Shiba Inu’s current circulating supply sits at a staggering 581.2 trillion tokens. Many pin SHIB’s inability to produce massive rallies on this huge figure, stoking support for the burn initiative.
SHIB hit its all-time high of $0.00008845 soon after Vitalik Buterin burned 410 trillion tokens in May 2021. While increased demand likely also lifted prices, the burn’s role can’t be ignored.
As more people start using Shibarium and automatic burns of the SHIB token get closer, supporters predict that trillions of SHIB could be destroyed every month. If 9 trillion tokens are gone each month, how much time will it take for SHIB to reach high goals like $0.001 or $0.01?
Potential Timeframes to Hit Major Milestones
Burning 9 trillion tokens every month means getting rid of 108 trillion tokens in a year. At this pace, half of the total supply (290.5 trillion) could vanish in less than three years. For SHIB to keep its market value at $5.3 billion with the remaining tokens, its price would have to increase to $0.0000183.
If 108 trillion more tokens of a cryptocurrency called SHIB are burned this year, there will be 182.5 trillion tokens left. This could raise the price to $0.0000293 in four years with a market cap of $5.3 billion.
If SHIB’s market cap reaches its peak of $43.5 billion in May 2021 with 182.5 trillion tokens available, the price could be around $0.00024. But for the price to reach $0.001, the market cap would need to rise to $182 billion. To reach $0.01, it would need an incredibly high valuation of $1.82 trillion.
Although there’s no certainty in achieving these targets, listing the requirements shows how much SHIB would have to increase from its current price. However, Shibarium’s burn mechanism makes it more likely that SHIB’s value could rise significantly.
Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.
