Will Burning 99% of SHIB Take It to $1 or Destroy the Ecosystem? Here’s What Shytoshi Kusama Says
Shiba Inu (SHIB) is a cryptocurrency that initially gained traction as a memecoin and is now slowly evolving into something more. With a market capitalization of $15 billion and a significant surge in capital burn rates, SHIB is gaining momentum. But there is a bold idea circulating, burning 99% of the supply. Will this risky move push SHIB to $1, or will it cause the ecosystem to collapse? This is what lead developer Shytoshi Kusama said.
Can Burning 99% Push SHIB to $1?
Shiba Inu has been burning coins at an impressive rate recently. In just a few days, the fire was burning Interest rates soar 6,220%significantly reducing the circulating supply. Of the original 999 trillion tokens, more than 410 trillion have been destroyed, leaving only 541 trillion.
While this caused excitement, one X user asked Shytoshi Kusama if 99% of SHIB tokens could be burned and if the token price could be raised to $1.
Kusama replied that this is technically possible, but burning tokens is not the only thing that will drive up the price of SHIB. He explained that token burning is just one of the factors driving SHIB’s price increase, with multiple projects in the Shiba Inu ecosystem, such as decentralized finance (DeFi), also playing a key role.
Risk of burning too much, too fast
Yayoi Kusama warned that burning too many tokens too quickly could harm the Shiba Inu ecosystem. If SHIB becomes too expensive, fewer people will buy it, slowing down cash burn and stopping growth.
While burning tokens is important, it must be balanced with other efforts to help SHIB reach its full potential.
Shiba Inu’s Tier 2 Solution: Shibarium
One of the most promising developments Shiba Inu is Shibariumthe project’s second-tier solution. Recently, Shibarium reached a major milestone, processing over 8 million blocks and over 400 million transactions.
Shibarium helps by lowering transaction fees, increasing transaction speed, and improving scalability. These changes can contribute to SHIB’s long-term success by creating more ways to use the token and encouraging adoption.
Shiba Inu Price Analysis
While the price of Shiba Inu has been climbing, some experts believe it could go up even more. Technical analysis shows SHIB may reach $0.000045 If it manages to break through certain resistance levels.
However, in order to reach higher levels or possibly $1, the community needs to balance token burning with other efforts such as improving Shibarium.
