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00:15 Marriage Rules
01:35 The Current Shiba Inu
02:27 Shytoshi Kusama Thoughts on Burning Coins
02:40 The Current Way of Burning Shib
03:14 Realistic Burn Rate of Shib
05:17 Shiba Spread Sheet
07:04 SkillShare Sponsor
08:15 Possible Scenarios
09:27 Shiba Hitting 1 Cent
10:09 Realistic Shiba Inu Estimate
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Today we are going to talk about Shiba Inu and how likely it is to get Shiba Inu to 1 Penny with the burns.
Some people believe that staking Shiba Inu will reduce the supply of Shiba Inu and it will raise the price. This is not true. Since the coins can always be taken out, the price of shiba inu will stay relatively the same due to arbitrage. The only way to truly increase the price of shiba inu is by burning the coins to lower the supply.
In an article where people asked the Shiba Inu developers to burn all the coins, Shytoshi Kusama said that they only way they could do it was by buying all the coins, which they don’t have enough funds to buy a significant amount of shib. However, there is a way that they are implementing the burns and that is through the listings on Shiba swap. When a coin is listed on shiba swap, they have burn $25k of Shiba Inu and $25k of Leash. Shytoshi is hoping to add over 1000 coins on Shiba Swap by the end of the year. This is equivalent to over $25 million of shiba inu burned. However, this is just a bit under 1% of the total market cap of Shiba Inu. Therefore, even if Shiba Swap adds a lot of coins to their listings, they would probably burn less than 5% of the total supply a year.
At the current market cap, Shiba Inu would need to burn a little over 99.9% to get a price of 1 cent per coin. According to my spreadsheet, it would take decades to burn 90% of the current coin supply. The best way to really increase the price of shiba inu is to just increase the price naturally.
Make no mistake, there is still a lot of money that can be made in Shiba Inu if it goes up. If Shiba Inu can hit a market cap of $27 million in a year or two, then you have just 10x your initial investment. This is very possible since Shiba Inu has a very large community. As long as Shiba inu continues to have more uses for their coins, they should be able to grow steadily.