How likely Shiba Uni will hit to 1 penny. Reasons Why Shiba good investment
The Current Shiba Inu
Currently, Shiba Inu is 0.00001333 usd.ıts market cap is 5.2 billion dollars. The circulating supply from the coin market cap is 394 trillion 796 billion coins in circulation.
One thing I want to clarify is that staking Shiba Uni does not mean that the coins are burned okay.
So İt does not really affect the market price of Shiba Inu. The only thing that really affects the price is the burnt. Because burns, you take the coins out of circulation forever. So that’s why burning is important.
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The Current Way of Burning Shib
Shiba Inu is currently trying to implement the burden, and that is it is implemented a 25 000 usd Shib burn and 25 000 usd leash burn for all woof listing.
So basically, every time that they are listing a new coin in the Shiba swap, they are going to be burning 25 000 usd worth of Shib and 25 000 usd worth of leash. And that is how they are implementing the burns right now.
Realistic Burn Rate Of Shib
Their goal is to have over a thousand wooofable listings this year. Which if you calculated out a thousand listings at 25 000 usd of Shib. This means that the total for a thousand would be 25 million dollars burned.
Now let’s see how that compares to the overall market, right? Currently, the market cap of Shiba Inu is 5.2 billion dollars.
That means that 25 million dollars burn per year. This year 25 million Shib burn. That means that it is probably less than 0.5 per cent burned this year, right.
This year is obviously more than half over, so. Let’s give it an average of a year, let’s say 3 000 coin listings in Shiba Uni per year.
Average 3 000 right. Even if it’s 3 000, that means it’ll only be around three per cent burn per year. Three per cent shiva e new coin burn per year.
Just a little refresher at a price of point 0.00001328 USD. Shiba Uni would have to burn a little bit over 99.9 per cent of their current coin supply to reach 1 penny. 99.9, a little bit over 99.9 per cent of Shibu. So and just that fact alone makes it very, very hard for Shiba Inu to head to one penny.
I know that they’re trying to come out with different ways to burn Shib with the nft market and with probably other things to burn Shib.
But right now, the current most best way to burn Shib is through the coin listing. So that is what I’m going to be focusing on in my spreadsheet right now to see how likely it is for Shib to hit one cent even with the burns. Read More…
Categories: CRYPTO PROJECTS