Is Shiba Inu Network’s 500 Billion Token Burn Enough To Reach $1?

Shiba Inu Burn Rate Skyrockets by 2057%: Is the Market Rally Getting Ready For Bull Run?

Shiba Inu’s Shibarium layer-2 network is expected to increase token burns, which could potentially increase the price of the SHIB token. Some supporters have proposed scenarios where Shibarium could burn up to 111 trillion tokens annually.

However, another supporter named “SHIB BPP” has suggested that Shibarium would be impressive if it could burn 500 billion SHIB tokens per year. This calculation was based on the current prices of BONE and SHIB, as well as the number of transactions on the top Layer-2 network in the past month.

Could 500 Billion Tokens a Year Push Shiba Inu to $1?

It is important to note that the estimate of 500 billion SHIB token burns per year for Shibarium is significantly lower than the previous estimate of 111 trillion tokens. At this rate, it would take several decades, if not centuries, to reach the project’s goal of reducing the overall supply. It should be emphasized that these calculations are purely speculative, and the SHIB team has not yet disclosed any official burn rate for the network.

Related Reading: Whales Accumulate Billions of Shiba Inu; What to Expect? 

Moreover, while the beta test net has shown promising results, the actual burn rate for the mainnet launch is still unknown. 

Additionally, the SHIB team has not provided a specific launch date for the network, although the lead developer has suggested a possible timeframe of two to four months.

As of the time of writing, the SHIB token was trading at $0.00001035, reflecting a 1.4% decline in the last 24 hours.

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