Shiba Inu: another alternative to burn billions of SHIBs? – BeinCrypto France

As tens of millions of SHIBs are burned daily, a new process could increase the deflation of the Shiba INU token.

Projects to burn tokens are multiplying for the memecoin

Right now, the SHIB is already deflationary. However, given the amount of tokens currently in circulation, the project seeks to multiply alternatives or initiatives that could accelerate the burning of the remaining 559 trillion tokens. Over the past 24 hours, the Shibburn lists the disappearance of nearly 170 million tokens, with a burn rate up +444%.

The Twitter account of the portal listing the burn of Shiba Inu, the Shibburn, has just announced the launch of a mobile application, which should optimize the burn of SHIB tokens. The app will be available on IOS and Android, so anyone can download it.

The application in question is called Alexa Skill, specially created for Shibburn Radio, which will see millions of SHIB tokens to be burned sent to the dead wallet.

On Twitter, Shibburn has already certified that this initiative aims to attract more sponsors to then intensify the burn of tokens and further increase the visibility of the project. A curious initiative to say the least, which will see the arrival of a new website, but also and above all live performances by several DJs.

At the same time, the Shibburn entrusted work on other projects that could remove billions of coins, or even more, from circulation.

“We have other projects coming up, and we think they could burn tens of billions of tokens if not trillions.”

twitter of Shibburn.

However, knowing that the current supply is 559 trillion tokens, burning trillions of them would prove potentially conclusive in limiting the supply, in the context of a possible rise in price.

A SHIB still below $1 in 2037?

While the SHIB is still sailing at several zeros of the dollar, it is still unleashing all the passions. Indeed, some holders could become millionaires or more with a token worth $0.10 or even just 1 cent, and investors could then secure profits. However, with the amount of tokens in circulation being nearly infinite, analysts see the long-term, very long-term future.

According to the crypto analyst Lark Davis, the token is currently unable to achieve this idyllic price, due to the trillions of coins in existence. For the crypto analyst, it is necessary to strengthen the burn of tokensand wipe out several tens of trillions before reaching such a high price.

While the analyst compares the evolution of the SHIB to that of the DOGE, he points out that the latter has not yet been able to reach the symbolic dollar either, with an ATH of “only” $0.73 reached in the spring. 2021. Despite repeated support from Elon Musk, and a significantly lower supply, the oldest canine coin could not cross the dollar, despite all the hype that may have surrounded the initiative.

For Lark Davis, these trillions of tokens to burn are even necessary to reach the price of $0.01, a task that promises to be herculean to say the least, since it means that more than 90% of the tokens will have to be burned.

Currently, the SHIB token is still stuck at 4 zeros after the decimal, with a price of $0.00001166.

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Shiba Inu: another alternative to burn billions of SHIBs? – BeinCrypto France


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