Shiba Inu: How Many Years Will SHIB Take To Reach $1?

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.

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.

Shiba Inu: How Long For SHIB To Reach $1?

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.

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.
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Donald Trump Officially Elected, Promises Abound for the Crypto Market

Donald Trump has officially won against Kamala Harris to become the 47th President of the United States. This promises to bring positive waves to the cryptocurrency market.

Donald Trump Officially Elected, Promises Abound For The Crypto Market
Donald Trump officially became the 47th President of the United States after defeating his opponent Kamala Harris. The return of this 78-year-old billionaire promises to bring a new wind in the economic field, not only in the US but also creating a global impact.

Bitcoin price skyrocketed to $ 75 thousand during the election, showing strong confidence of investors in Donald Trump’s return.

During this term, Trump made a series of commitments, including making the United States the center of the cryptocurrency industry. He pledged to promote Bitcoin mining in the US and stated that he wanted “all remaining Bitcoin to be MADE IN THE USA”.

Presidential Results Live

Although the new president has not revealed details on how to achieve this goal, some members of the cryptocurrency community still see Trump’s victory as a positive signal thanks to his pro-mining stance.

For example, Samson Mow, CEO of Bitcoin fintech firm Jan3, said on June 13 that Trump’s support for mining would “push things even further.”

Bitcoin mining has sometimes faced opposition from environmental groups, who argue that the process causes significant carbon emissions. However, a pro-mining president could use his position to block new environmental regulations that would restrict the practice.

Donald Trump also pledged to fire Gary Gensler within 24 hours of taking office. Gary Gensler, the SEC chairman appointed by President Joe Biden, is widely seen as hostile to the cryptocurrency market due to his hardline policies, which have made it difficult for many blockchain companies
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