The Twitter account “Shib_superstore” for smartphones, set up by a game maker, shared in August that it expects to burn more tokens than in July. He also states that a total of about 5 billion SHIBs have been burned so far. Here are the details…
Shiba Inu reaches 4.7 billion milestone
Travis Johnson behind the account tweeted that August has so far been more successful than July when it comes to coin burning. During the previous month, $1,000 worth of these meme tokens were burned, according to the chart shared in the latest tweet. So far, on August 13, Travis wrote, “it’s almost halfway through last month.” Coming to another important milestone mentioned in the tweet, the total amount of tokens burned by this platform so far has exceeded $60,000. This equates to 4,734,648,653 Shiba Inu.
August 11
We passed $1000 for the month and just about the halfway point of last month, we are on pace to beat last month which is awesome!
Another milestone, we have passed $60,000 in total burn revenue!
Visit https://t.co/d0goxr6sys to see all the ways to burn through me. pic.twitter.com/JdL0D64RgW
— SHIB Super Store (@shib_superstore) August 12, 2022
A week ago, Johnson caught the attention of the SHIB community with his tweet, saying that he knows how to easily remove a staggering 1.3 billion SHIB from circulation on a daily basis. The game developer wrote that this can be achieved with the help of full use of the tools that the website offers. The site contains a variety of mobile games that generate overall revenue, mostly from advertisements that are partly spent burning a Shiba Inu.
However, the SHIB burn mechanism shows that as few as 30 million SHIB tokens have come out of circulation in the past two days. Therefore, it seems rather inefficient. Because this amount is 0.0005 percent of the circulating supply of the coin. Also, about 10 percent of the supply is concentrated in the hands of the 100 largest wallets on Ethereum. These whales seem reluctant to leave their SHIB to burn them.
What are the critical forecasts for SHIB?
Burning incident aside, many analysts continue to share long-to-short-term price expectations for the SHIB price. Different analysts’ market forecasts vary widely. Many times these predictions will turn out to be wrong, as analysts cannot always predict events such as political or environmental crises. It would be wise for an investor to do their own research before investing in a cryptocurrency, especially something volatile like SHIB.
For example, the Changelly blog post claimed that after examining SHIB prices and market fluctuations, experts predicted that the SHIB could go as high as $0.000005048 and fall as low as $0.00004183. The potential return on investment for the given year is estimated to be 322 percent, with an average price of $0.00004335.
Telegaon agrees, finding that the Shiba Inu price could reach a new ATH in 2025, according to some crypto experts. On the contrary, although they expect enough tokens to be burned this year, they are not very hopeful about the price increase in 2022. They estimate the maximum and minimum prices of SHIB to be $0.0001928 and $0.000009839, respectively. Its average price was estimated to be around $0.0001152.
2030 predictions for Shiba Inu
The aforementioned Changelly blog post also stated that by 2030 the SHIB will be traded at an average price of $0.00030921. Their maximum and minimum prices will be $0.00035649 and $0.00029857, respectively. The potential return on investment for SHIB in 2030 is estimated to be 2,878 percent. In April, however, Finder surveyed a panel of 26 experts who predicted a rather bleak picture for the future of the Shiba Inu coin. They estimated the average price of the SHIB in 2030 to be as low as $0.000000325.
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