Shiba Inu: What Is the Price of SHIB If 99% of Tokens Are Burned?

The massive supply of Shiba Inu (SHIB) is one of its key barriers to price. Currently, there are about 589 trillion SHIB tokens in circulation. If the asset price rises too high, the project's market capitalization will reach an unrealistic number. One of the most important catalysts for SHIB's astonishing price increase in 2021 was the burning of tokens by Vitalik Buterin. The co-founder of Ethereum received half of the project's supply upon launch. Buterin decided to burn 90% of the tokens he received and donate the remaining 10% to charity. His actions led to a significant decrease in the token supply and a surge in price. What is the price of Shiba Inu if 99% of the tokens are burned? If 99% of all SHIB tokens are burned, the project will have about 5.89 trillion tokens. Consider that the project's market capitalization is still at $14.68 billion. In such a scenario, the price of each token will be $0.00249 ($14.68 billion / 5.89 trillion). Reaching $0.00249 from the current price will represent a growth rate of about 9883.9%. If the market capitalization of Shiba Inu increases, the price of each token will rise more than $0.00249. Can the Project Burn 99% of the Total Tokens? According to the main developer of SHIB, Shytoshi Kusama, burning 99% of all SHIB tokens is possible. Kusama noted that this effort was impossible a few years ago. The project is now achievable thanks to many collaborative projects. While the team could carry out such a large burn, Kusama emphasized that burning such a large number of tokens would have some problems. As people start buying more SHIB tokens on the assumption that the price will skyrocket, continuing to burn will become more expensive. Kusama stated, "the staking and new use cases not only for Shib but also for Bone, Leash and Treat are equally important."