*The Challenge of SHIBA’s Appreciation: A Revealing Calculation*
SHIBA, a popular cryptocurrency, faces a significant challenge to appreciate in value. With a total supply of 1 Quadrillion tokens, SHIBA needs to burn a substantial amount of tokens to increase in value.
*The Calculation*
1 Quadrillion tokens = 1,000,000,000,000
Current supply = 1 Quadrillion
For SHIBA to appreciate significantly, at least 80% of the tokens need to be burned.
80% of 1 Quadrillion = 0.8 x 1,000,000,000,000 = 800,000,000,000 tokens
This would leave only 20% of the original supply:
20% of 1 Quadrillion = 0.2 x 1,000,000,000,000 = 200,000,000,000 tokens
*The Problem*
Burning 800 billion tokens is a massive challenge. Considering the current daily burn is about 8 million tokens, it would take:
800,000,000,000 tokens ÷ 8,000,000 tokens/day = 100,000 days
or approximately 273.97 years.
*Conclusion*
SHIBA faces a significant challenge to appreciate before burning at least 80% of its tokens. The current daily burn is insufficient to achieve this goal in a reasonable timeframe. Unless the daily burn increases substantially, SHIBA's appreciation may be hindered.
*Notes*
- Token burning is only one of the factors that influence the value of the cryptocurrency.
- Demand, adoption, and regulation also play important roles.
- The above calculation is simplified and does not take into account additional variables.
However, this calculation illustrates the magnitude of the challenge that SHIBA faces to appreciate. Token burning is a necessary, but not sufficient, step to increase the value of the cryptocurrency.
What is your suggestion to speed up this process?