Burning 600 Million? What Is The Current Price of Shiba Inu Coins?
2022-03-25 09:56:58
How Much Is The Shiba Inu Coin Right Now?
The SHIB used to be a ridiculed Dogecoin parody when it was launched in August 2020. At that time, the market circulation price was still at 10 decimal places. Unexpectedly, one year later the circulating price of Shiba Inu Coin rose from $0.000000000189 to $0.00007941, which means a 7,000,000% increase in just 14 months. If you invested $8,000 at the time of the Shiba Inu coin launch, you would reap $5.7 billion a year later in 2021. That's a staggering amount.
Shiba Inu Coin, after the rise and hype of 2021, reached a market cap of $50.24 billion, successfully surpassing the Dogecoin it imitated to become one of the top 10 virtual currencies in the world. Although the price has fallen since then and the ranking has receded, the Shiba Inu coin name is starting to enter the limelight and is no longer a token of ridicule.
Is The Shiba Inu Coin Going to Burn 600 Million?
Shiba Inu Coin has a mintage of 10 trillion. Ever since Shiba Inu Coin saw a spike in 2021, its team has been burning tokens intending to stabilize Shiba Inu Coin's price and market activity. As of March 2022, the Shiba Inu coin has been burned to the tune of 410 trillion. The total amount of Shiba Inu coins currently active and circulating in the market is 549.06 trillion.
Yet not only that, the Shiba Inu coin team is still doing regular token burns now. On March 23, the Shiba Inu Coin team announced on Twitter that it had burned 115 million tokens. Shortly, they plan to hold a "burn party" for a massive Shiba Inu coin burn, with a target of 600 Million.
The purpose of all this is to make Shiba Inu coins more scarce, which in turn makes its price rise dramatically. It also attracts a large number of potential investors to buy Shiba Inu coin.
What Is The Current Price of Shiba Inu Coins After Burning?
The Shiba Inu coin team has been burning through making its price fluctuate up and down, but there is no significant upward trend yet, at least not as much as the 2021 price looks like.
As of now Shiba Inu coin's price increase for the last 7 days is 9.29%. The current price is $0.00002475 and has risen 6.48% in 24 hours. The total market cap of the Shiba Inu coin is $13.53 billion, and the total amount in circulation is $549.06 trillion. The volume in the last 24 hours is $1.37 billion. (Source: Gate.io March 24)
Several Whales have recently appeared to start buying Shiba Inu coins in large quantities, totaling up to 51billion Shiba Inu coins. These market operations are also continuing to influence the direction of the Shiba Inu coin. After rising for several days in a row, the situation of the Shiba Inu coin is currently good, and many investors predict that it has now reached the bottleneck of the equilibrium triangle. If this point is broken, the Shiba Inu coin will lead to a violent rise. However, will this be the case? This is something that everyone who wants to invest in the Shiba Inu coin should ponder.
The SHIB used to be a ridiculed Dogecoin parody when it was launched in August 2020. At that time, the market circulation price was still at 10 decimal places. Unexpectedly, one year later the circulating price of Shiba Inu Coin rose from $0.000000000189 to $0.00007941, which means a 7,000,000% increase in just 14 months. If you invested $8,000 at the time of the Shiba Inu coin launch, you would reap $5.7 billion a year later in 2021. That's a staggering amount.
Shiba Inu Coin, after the rise and hype of 2021, reached a market cap of $50.24 billion, successfully surpassing the Dogecoin it imitated to become one of the top 10 virtual currencies in the world. Although the price has fallen since then and the ranking has receded, the Shiba Inu coin name is starting to enter the limelight and is no longer a token of ridicule.
Is The Shiba Inu Coin Going to Burn 600 Million?
Shiba Inu Coin has a mintage of 10 trillion. Ever since Shiba Inu Coin saw a spike in 2021, its team has been burning tokens intending to stabilize Shiba Inu Coin's price and market activity. As of March 2022, the Shiba Inu coin has been burned to the tune of 410 trillion. The total amount of Shiba Inu coins currently active and circulating in the market is 549.06 trillion.
Yet not only that, the Shiba Inu coin team is still doing regular token burns now. On March 23, the Shiba Inu Coin team announced on Twitter that it had burned 115 million tokens. Shortly, they plan to hold a "burn party" for a massive Shiba Inu coin burn, with a target of 600 Million.
The purpose of all this is to make Shiba Inu coins more scarce, which in turn makes its price rise dramatically. It also attracts a large number of potential investors to buy Shiba Inu coin.
What Is The Current Price of Shiba Inu Coins After Burning?
The Shiba Inu coin team has been burning through making its price fluctuate up and down, but there is no significant upward trend yet, at least not as much as the 2021 price looks like.
As of now Shiba Inu coin's price increase for the last 7 days is 9.29%. The current price is $0.00002475 and has risen 6.48% in 24 hours. The total market cap of the Shiba Inu coin is $13.53 billion, and the total amount in circulation is $549.06 trillion. The volume in the last 24 hours is $1.37 billion. (Source: Gate.io March 24)
Several Whales have recently appeared to start buying Shiba Inu coins in large quantities, totaling up to 51billion Shiba Inu coins. These market operations are also continuing to influence the direction of the Shiba Inu coin. After rising for several days in a row, the situation of the Shiba Inu coin is currently good, and many investors predict that it has now reached the bottleneck of the equilibrium triangle. If this point is broken, the Shiba Inu coin will lead to a violent rise. However, will this be the case? This is something that everyone who wants to invest in the Shiba Inu coin should ponder.
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