Shiba Inu (SHIB) has a supply of about 589 trillion tokens, one of the biggest hurdles to its price. Ethereum co-founder Vitalik Buterin’s massive SHIB burn catapulted SHIB’s incredible performance in 2021.
Buterin received half of SHIB’s supply upon launch but decided to burn 90% of the tokens he received. Buterin’s decision led to a sudden dip in the asset’s supply, significantly increasing its price.
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What Will SHIB’s Price Be If 400 trillion Tokens Are Burnt?
If 400 trillion Shiba Inu (SHIB) tokens are burnt, the project will have around 189 trillion tokens in circulation.
Given that the project’s market cap remains the same, the price of each token will reach $0.000041, a rise of about 215% from current levels. Although the rally would be commendable, it still falls short of SHIB’s all-time high of $0.00008616.
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If SHIB witnesses a surge in adoption along with the burn, its market cap may also increase. The asset’s price could surge beyond $0.000041 in such a scenario.
How can the meme coin burn 400 trillion tokens?
Burning 400 trillion tokens is no easy task. SHIB already has a burn mechanism, but the current burn rate is too slow to burn 400 trillion tokens in a reasonable amount of time.
The SHIB team is reportedly working on a new burn mechanism that is rumored to burn trillions of tokens annually.
The team would have to burn 50 trillion tokens yearly to remove 400 trillion tokens in eight years.
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The team has yet to provide official figures on the upcoming burn mechanism, and we do not have an official launch date for the platform.
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