of Shiba Inu (SHIB) and Terra Classic (LUNC) The ecosystem has become known for periodic token burns aimed at increasing the value of the coin, and a computer engineer has weighed in on the burning mechanism, revealing whether Shiba Inu or LUNC is more likely to reach new highs. The goal is $0.01.
Will Shiba Inu and LUNC reach $0.01?
Computer engineer Charu Bey suggested this on X (formerly Twitter): post Only LUNC is likely to reach the $0.01 target price through the burn mechanism. He said the $0.01 price target is:Not a dream for LUNC“This is not financial advice,” the engineer warned, but it does mean it’s likely to become reality at some point.
Meanwhile, he expressed sadness over Shiba Inu and suggested that the meme coin’s burn mechanism hasn’t changed much, given that the token’s circulation is still at 589 trillion. He further noted that while the SHIB community has been “very quiet” about the development, the LUNC community remains unhappy despite the move. Millions of LUNC consumed every dayAs of now, there are “only” 5.44 trillion tokens in circulation.
Shiba Inu and LUNC employ a similar burning mechanism, dedicating a portion of trading fees to burning tokens, but LUNC has additional backing given that it is the world’s largest cryptocurrency exchange by market capitalization. Binance, They also promised to burn the trading fees earned from the tokens every month. data According to LUNC Metrics, Binance has burned approximately 62 billion LUNC tokens (48.9% of the total tokens burned to date).
On the other hand, Shiba Inu Layer 2 Network Sibarium The majority of token burns over the past year have taken place on Shibarium. However, Shibarium’s network activity continues to drop at times, leading to a slower rate of Shiba Inu burns.
How Token Burning Will Get Shiba Inu to $0.01
according to Shiba Inu Burn TrackerShiba Inu’s maximum circulating supply would need to drop to about 126 trillion for the price to hit $0.01, meaning that about 78.52% of the meme coin’s circulating supply would still need to be burned to reach this goal. Crypto YouTuber Jeff Wance was suggested It was almost impossible Shiba Inu They claim that it would take roughly 1.1 million years to reach this price target just by burning 100 billion tokens.
Crypto analyst Oscar Ramos Previously proposed He said Shiba Inu could reach $0.01, but added that the meme coin is unlikely to surpass this level given its circulating volume. Price prediction website TelegaonAccording to a new study, Shiba Inu could reach a market value of £5 million by 2040.
Featured image created by Dall.E, chart taken from Tradingview.com
