Cryptocurrency Q&A
How much Shiba Inu has to be burned to reach 1 cent?
How much Shiba Inu has to be burned to reach 1 cent?
DigitalDynasty
Fri Nov 01 2024
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7 answers
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I want to know how many Shiba Inu coins need to be burned in order to increase its value to 1 cent. Can someone please explain or calculate the amount?
7 answers
CryptoTitan
Sun Nov 03 2024
Currently, SHIB has a vast supply of tokens, with a total of over 1 quadrillion in existence. To reach the required circulation for $0.01, a significant portion must be removed from the market.
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DigitalLegendGuard
Sun Nov 03 2024
Achieving the price target of $0.01 for SHIB, while sustaining its market capitalization at $4.7 billion, entails specific conditions.
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Leonardo
Sun Nov 03 2024
For SHIB to reach this milestone, there must be 470 billion tokens in circulation. This figure is crucial as it balances the market cap with the desired price point.
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Stefano
Sat Nov 02 2024
To achieve this within the estimated timeframe, SHIB would need to burn around 5 trillion tokens every month. This rate of burning would ensure a steady reduction in the total supply over time.
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CryptoChieftain
Sat Nov 02 2024
Specifically, to hit the 470 billion circulation mark, SHIB would need to burn away the remaining 569.5 trillion tokens. This process is known as token burning, where tokens are permanently removed from circulation.
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