A significant development has made the $1 target for Shiba Inu (SHIB) more achievable. Burning 99.99% of the remaining SHIB tokens is theoretically possible but extremely challenging.
The Challenge
The initial 50% burn was accomplished by Vitalik Buterin's massive token burn. However, current burns are community-driven and gradual, relying on mechanisms like dead wallets or transaction-based burns.
Achieving the Target
To reach the $1 target, the SHIB community would need to:
1. Exponentially increase the burn rate.
2. Maintain consistent community participation.
3. Introduce mechanisms that incentivize or enforce significant burns.
Market Update
SHIB's current price is 0.00002641, down 15.7%. The crypto market is experiencing significant fluctuations, with GALA and PEPE also experiencing declines.
Disclaimer
This information includes third-party opinions and should not be considered financial advice. Sponsored content may be included.#BURNGMT #EarnFreeCrypto2024 #EarnFromCrypto #GMT/USDT. @GMT DAO
