Shiba Inu: How High Can SHIB Go If 50% Tokens Are Burnt?
Shiba Inu (SHIB) has come a long way since its launch in August 2020. The asset’s price rallied by many million percent during the 2021 bull run. Early investors made massive gains, reaping millions of dollars in profit. Since its 2021 peak, SHIB has faced significant hurdles. The asset is down by more than 84% from its all-time high of $0.00008616, which it attained in October 2021. Although the memecoin has climbed the market cap charts over the last few months, its price continues to struggle. Also Read: Dogecoin: Here’s How To Be A Millionaire With DOGE By 2030 Why Did SHIB Skyrocket In 2021? Source – Token Metrics One of the most significant catalysts for Shiba Inu’s (SHIB) incredible run in 2021 was Ethereum co-founder Vitalik Buterin‘s massive token burn. Although Buterin received half of SHIB’s supply upon launch, he decided to burn 90% of the tokens he received while donating the rest to charity. His actions led to a significant drop in the project’s supply, aiding the asset’s