Shiba Inu, originally launched as a meme-based cryptocurrency, has undergone considerable development since its inception in August 2020. The project has evolved into a broader ecosystem with increasing utility, while also implementing significant token burns aimed at reducing its total supply. Token Supply Reduction Since Launch At the time of its introduction, Shiba Inu had a total supply of 1 quadrillion tokens. According to data from Shibburn, this figure has since been reduced to approximately 589.25 trillion tokens. This means that about 410.75 trillion tokens, roughly 41% of the original supply, have been permanently removed from circulation through multiple burn initiatives. One of the most significant burns occurred when Ethereum co-founder Vitalik Buterin donated and destroyed a large portion of SHIB tokens. Growing Calls for Aggressive Burns Despite these reductions, a portion of the Shiba Inu community remains concerned about the token’s high supply. Many believe that SHIB’s substantial circulating volume continues to limit its price potential, especially in comparison to other cryptocurrencies with lower supplies. In response, some community members advocate for additional burns, proposing a long-term target of bringing the supply down to 10 trillion tokens. Supporters of this strategy argue that a lower supply would improve market valuation metrics and potentially aid in price recovery. Over the past year, the token has seen a 40.86% decline in price, including a 13.39% drop in the last 30 days and a 2.97% dip in the past week. These losses reflect both internal supply concerns and the general market downturn. Notably, Ethereum has also experienced a decline of 21.3% year-to-date and 25.98% over the past year, indicating broader market challenges. Projected Price Under a 10 Trillion Supply Scenario Analysts have attempted to estimate SHIB’s price if its total supply were reduced to 10 trillion. Under the assumption that the current market capitalization of $7.19 billion remains unchanged, the price per SHIB token could rise to approximately $0.000719. This would represent an increase of around 5,793% from the current price of $0.00001216. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Achieving this supply level, however, would require the destruction of nearly 580 trillion tokens, an ambitious goal. Some believe that such a large-scale reduction could be possible through expanded utility of Shibarium , Shiba Inu’s layer-2 blockchain, which incorporates burn mechanisms tied to transaction fees, as well as through continued community-led campaigns. Various forecasting platforms have included $0.0007 in their future price projections for SHIB. Telegaon estimates the token could reach this price point by 2030, with a potential maximum of $0.000712. Similarly, Changelly anticipates that SHIB might achieve this level by December 2034, having revised its earlier 2030 projection in response to recent price trends. Although reducing SHIB’s supply to 10 trillion remains highly unlikely in the near term, the discussion emphasizes the significance of tokenomics in influencing market behavior. Supply dynamics continue to be a focal point in shaping both investor sentiment and long-term price forecasts for Shiba Inu. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Here’s SHIB Price if the Shiba Inu Total Supply Becomes 10 Trillion Tokens appeared first on Times Tabloid .
