Shiba Inu, the popular crypto known for its community-driven nature and meme-inspired origins, is making headlines once again with tantalizing hints of significant developments on Valentine’s Day. The anticipation stems from speculation surrounding potential groundbreaking announcements or milestones in Shiba Inu’s journey.
Shiba Inu sparks speculation of a major update
Cryptocurrency aficionados are ecstatic as the lead developer of Shiba Inu, Shytoshi Kusama, drops clues regarding a significant forthcoming announcement. Kusama tantalizingly hinted in a recent statement that the release of Sheboshi NFTs is imminent, slated for February 13. This disclosure signifies a pivotal moment in the Shiba Inu ecosystem’s development.
A fever intensity of anticipation has surrounded Sheboshi NFTs since Kusama hinted at the possibility of a Valentine’s Day release on February 14. Significantly, Kusama emphasized the unique placement of Sheboshi in tandem with Shiboshi, alluding to an innovative methodology towards NFTs.
Moreover, Sheboshi was initiated as a result of a collective endeavor among members of the Shiba Inu community in response to a concept put forth by Bad Idea AI a year ago. The forthcoming introduction of Sheboshi has rekindled hope among SHIB enthusiasts, cultivating a sense of expectation regarding the trajectory of the ecosystem.
The live price of Shiba Inu (SHIB/USD) is $0.00001 (SHIB), and its current market capitalization is $5.69 billion USD, per Binance. The volume of 24-hour trading is 146.81 million US dollars. The SHIB to USD exchange rate is dynamic. Shiba Inu has increased by 0.48% over the past twenty-four hours and has a circulating supply of 589,289.92B.
In a mystery message addressed to the SHIB Army, Kusama asked community members to “prepare their hearts and wallets,” implying that huge developments were on the way. Furthermore, this intriguing remark, released on the Shibarium Telegram channel, corresponds with the excitement around Valentine’s Day.
The current spike in network activity on Shibarium has heightened community excitement. Shibariumscan data show an astounding 375% spike in network activity overnight. This coincided with a significant increase in the price of Shiba Inu.
Shiba Inu burning continues
SHIB has a circulating quantity of 549 trillion tokens, causing its price to dwindle in the indices. There are just too many SHIB tokens available, making it a reasonably inexpensive asset to buy. To even consider surpassing the $0.01 barrier, SHIB must burn trillions of tokens and reduce its supply. The fewer tokens available on the market, the greater the demand, causing Shiba Inu’s price to rise steadily.
However, this is not currently happening because the burns are low, with only a few million tokens being delivered to the dead wallet. The Shibarium layer-2 network was expected to burn trillions of SHIB tokens. However, no large-scale burns have yet occurred.
What happens if Shibarium miraculously begins burning 100 trillion Shiba Inu tokens per year?
If Shibarium destroys 100 trillion SHIB tokens per year, the 500 trillion coins in circulation will be transferred to the dead wallet. That means deleting 90% of tokens during the following year. The development will leave Shiba Inu with an additional 49 trillion tokens in circulation in the market. This can only help SHIB attain a pricing point of between $0.0001 and $0.0003.
SHIB has a probability of reaching $0.01 if 99% of its current supply is burned. Even deleting 90% of the tokens in circulation may not help it achieve the one-cent goal.
