This past year, Shiba Inu rose by 45,000,000%. As of Wednesday, the focus is more on achieving a huge milestone than on making future percentage increases. SHIB remains active, with a current price of $0.00002498, a 24-hour low of $0.00002357, and a 24-hour high of $0.00002534. At least two of the following events must occur for SHIB to achieve and break past the $1 threshold. Burning Shiba Inu A large currency burn must occur. Crypto coins are taken out of circulation by the process of burning. Furthermore, a lesser supply supports a higher price. The simple fact is that there are just too many SHIB tokens in circulation today to make it past the $1 barrier. The current circulation supply is 549 trillion tokens. The coin’s market value would be more than $549 trillion if each token were worth a dollar. That is more than the whole cryptocurrency market. And it’s larger than tech giants Apple and Amazon. These two companies are each worth $2.7 trillion and $1.5 trillion. SHIB coin burns is taking place. Bigger Entertainment has hosted Burns. On Valentine’s Day, nearly 370 million Shiba Inu tokens were burned. But it’s not enough to decrease the vast supply since a significant decline in token supply is required to achieve $1. SHIB total market cap at $14.716 billion in the daily chart | Source: TradingView.com Related Article | Shiba Inu (SHIB) Upcoming Metaverse Plans Causes 40% LEASH Increase...
