Giant Burn Claim for Shiba Inu: Hundred Billions of Burns To Come?

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Fans and users shiba inu (SHIB) to increase the token burning of the Shibarium layer-2 network. Some backers shared hypothetical scenarios where Shibarium could burn up to 111 trillion tokens on an annual basis. Burning SHIB and reducing its circulating supply is one way to raise the price of the asset.

However, another SHIB advocate has now shared an estimate for Shibarium’s SHIB burns. Twitter user “SHIB BPP” said it would be impressive if Shiba Inu’s Shibarium network could burn 500 billion SHIB tokens every year. The calculation was based on current BONE and SHIB prices, including the number of transactions of the top tier-2 network in the last 30 days.

Will Burning 500 Billion Tokens Annually Raise the Shiba Inu to $1?

It should be noted that 500 billion tokens per year is much less than previous estimates of 111 trillion. Previous estimates indicate that SHIB’s metaverse, ShibaSwap and shibariumIt was made taking into account the burnings carried out in . If Shibarium burns 500 billion SHIB tokens per year, it will take 100 years for the project to burn 5% of the total supply. In addition, it would take 1,000 years to burn 50% of the supply. At this rate, it will take decades, even centuries, for SHIB to reach its goal.

However, these calculations are only hypothetical and the SHIB team has not released any official figures for incineration. While the beta testnet has proven to be very successful, we still don’t know what the burn rate will be when the mainnet goes live.

Also, the Shiba Inu (SHIB) team still hasn’t given an exact launch date for the upcoming network. However, SHIB lead developer Shytoshi Kusama said the network could hit the market in about two to four months.

As reported by Koinfinans.com, at the time of writing, SHIB is trading at $0.00001040, down 0.3% in the last 24 hours.


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