- Shiba Inu might undergo a drastic 99% supply reduction to significantly boost its price.
- Despite a strong community, SHIB struggles with its huge 589.3 trillion supply that hinders price targets.
- Reducing supply to 5.89 trillion SHIB at $0.01 could bring a $58.9 billion market cap.
In a move set to potentially redefine the future of Shiba Inu (SHIB), discussions about a monumental supply reduction have surfaced. The proposal suggests a drastic 99% cut in SHIB’s circulating supply, a move that could pave the way for a substantial surge in its price.
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SHIB has encountered challenges in achieving its most ambitious price targets. Despite its strong community support and a consistent presence in the top 20 cryptocurrencies by market cap, the current supply of 589.3 trillion SHIB poses an obstacle to reaching substantial valuation milestones.
However, a suggested solution involves reducing this extensive supply to a more manageable 5.89 trillion SHIB, a 99% reduction. At a target price of $0.01, this revised supply could potentially drive SHIB’s market capitalization to a more realistic $58.9 billion, signaling a more attainable milestone compared to the previously unrealistic figures.
The pivotal point of this proposal lies in the implementation of Shibarium’s automated burn portal. Traditionally, burning SHIB tokens required manual processes, but the introduction of an automated mechanism promises a more efficient and systematic reduction in supply, contributing significantly to deflationary dynamics.
This proposed supply cut and the subsequent implementation of an automated burn mechanism could herald a new era for Shiba Inu, instilling hope among investors and enthusiasts. While acknowledging the potential positive impact on SHIB’s price, the community remains cautiously optimistic.
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