header banner
Default

How many years will it take Shiba Inu to reach $1?


Table of Contents

    The Shiba Inu team confirmed on Monday that the Shibarium layer-2 network will begin burning SHIB tokens from January 2024. Read here to learn more details about how many SHIB tokens will be burned by Shibarium every year for a better and in-depth understanding.

    According to the latest blog, 70% of the transaction fees initiated on Shibarium will be used to burn SHIB tokens. The rest 30% of the funds will be used to maintain the network helping it to run smoothly and efficiently.

    Also Read: Shiba Inu: Millions of Bitcoin Profits Set to Flow Into SHIB

    Shibarium will collect fees in the governance Bone token, which is used as gas to conduct transactions on the network. Bone tokens will then be converted into SHIB automatically after it reaches a threshold of $25,000 in value. After the conversion is completed, Shibarium will burn SHIB tokens and permanently remove it from circulation.

    However, now that Shibarium is confirmed to burn SHIB tokens, is there a possibility for Shiba Inu to reach $1? In this article, we will highlight how many years it could take for Shiba Inu to hit the $1 mark through burns from Shibarium.

    Also Read: $18,000 in SHIB Turns $43.7 Million in December 2023

    shiba inu shib token 1 dollar
    Source: Watcher Guru

    If everything goes right and assume that Shibarium burns 3 trillion tokens every year, it would still not make SHIB reach $1 in our lifetime. The dynamics here come into play differently as the supply would remain plenty with demand being scarce.

    Also Read: The Race to $1: Will Shiba Inu or Dogecoin Get There First?

    For the context, Shiba Inu has 589 trillion tokens in circulation and hardly just 1.3 million holders. The adoption is not catching up with the circulation making its price to either dip or remain constant.

    In conclusion, even if Shibarium burns 3 trillion SHIB tokens every year, it would take 98 years for Shiba Inu to reach $1. That’s simply not possible in our lifetime. However, if Shibarium manages to burn more than 100 trillion tokens per year, only then could Shiba Inu have any chances of hitting $1 before our lifetime.

    Sources


    Article information

    Author: Nathan Santiago

    Last Updated: 1702199761

    Views: 636

    Rating: 3.5 / 5 (94 voted)

    Reviews: 99% of readers found this page helpful

    Author information

    Name: Nathan Santiago

    Birthday: 1911-01-09

    Address: 96436 Ashlee Square, Wangchester, NV 06877

    Phone: +4208651322865694

    Job: Urban Planner

    Hobby: Soccer, Orienteering, Hiking, Knitting, Animation, Fencing, Pottery

    Introduction: My name is Nathan Santiago, I am a capable, ingenious, accessible, Precious, transparent, persistent, talented person who loves writing and wants to share my knowledge and understanding with you.