Cryptocurrency Q&A
Can Shiba reach $1 cent in 2024?
Can Shiba reach $1 cent in 2024?
CryptoVisionary
Thu Jun 06 2024
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6 answers
1466
Could you please elaborate on the potential for Shiba Inu to reach a value of $1 cent in the year 2024? Given the current market trends and the cryptocurrency's performance, is there a realistic chance for such a significant surge in its price? What factors might contribute to or hinder this possibility? Also, how would investors need to approach this potential opportunity, considering the volatile nature of the crypto market? Your insights would be greatly appreciated.
6 answers
Martina
Sat Jun 08 2024
Recently, the Shiba Inu community has witnessed a significant milestone. Approximately 353 million tokens have been burned in the past month, indicating a remarkable effort towards reducing the supply.
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MountFujiMysticalView
Sat Jun 08 2024
This figure translates to an astonishing 4.2 billion tokens burned annually. Such a trend, if sustained, would have profound implications for the cryptocurrency's price dynamics.
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QuasarGlider
Sat Jun 08 2024
However, even at this rate, it would take an estimated 140,300 years to burn enough tokens to potentially justify a price of $1 per Shiba Inu. This projection underscores the vastness of the task and the long-term nature of the burning process.
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Eleonora
Fri Jun 07 2024
Given such a timeline, it becomes evident that the year 2024, as speculated by some, is highly unlikely to see a significant price surge for Shiba Inu. The burning process is simply too gradual to produce such rapid results.
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Valentina
Fri Jun 07 2024
Nevertheless, the ongoing token burning remains a positive sign for the Shiba Inu community. It demonstrates a commitment to managing the supply and potentially enhancing the value of the remaining tokens over time.
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