The Suzy Shiba Ino token will last for 7 million years if it continues to operate at its current rate! This is likely to discourage SHIB investors.
This morning, Shibburn reported the number of Shiba Inu tokens burned in the past seven days. According to the data provided, 1.13 billion SHIB were burned in the last week. This figure represents only 0.0002% of Shiba Ino’s circulating volume (equivalent to 550 trillion tokens). Currently, 1.13 billion SHIB tokens are priced at $13,500.
The burning token of Shiba Ino will last for 7 million years!
If we say that the statistics are depressing, we are not exaggerating at all. Token burning is the main mechanism to reduce the inflation of digital currencies. At the current rate of token burning Shiba Inoit will take about 7 million years to burn all the SHIB tokens.
Shiba Inu owners who dream of “flying to the moon” don’t have that kind of time at all. In addition to Shibburn, Shiba Inno has other token burning portals, but according to the performance of the top token burning portal SHIB, we can also guess the status of other portals.
The importance of token burning speed for Shiba Ino users
Will the speed of token burning be important for Shiba Ino users? If SHIB’s token burning mechanism continues to operate at the same slow pace, Shiba Ino holders will obviously have to moderate their appetite for profit.
Currently, about $6.5 billion has been invested in the Shiba Inu cryptocurrency. To what extent the Shiba Ino project has the ability to grow and whether this cryptocurrency will have a future in the cryptocurrency market or not is still an unanswered question. Shiba Ino has been introduced by many companies as a payment tool. SHIB developers have promised to introduce the Shibarium solution in the third quarter of 2022. These events will generally not make a significant difference in the price of the token.
The Shiba Ino Token will boost the possibility of SHIB’s price increase and may even close the gap between Shiba Ino and Dogecoin in the market capitalization ranking. If the mechanism works at such a low rate, it is not possible to open a special account on Shiba Ino. In this case, it is better to reconsider your calculations.
What do you think about Shiba Ino’s slow token burning speed? Will Shiba Ino have a future in the cryptocurrency market? Please leave your comments in the comments section duplicate share it.