Shiba Inu continued to surge as the SHIB community rapidly burned another 179 million Shiba Inu coins. Shiba Inu, also referred to as the “Doge-coin killer” has been burning tokens which in turn naturally has decreased the circulating supply of the popular crypto coin and increased the meme coins demand.
The Shiba Inu community has recently burned 179,387,035 tokens in the last few days and the digital token was seeing an upward trend in price during that time. Since then however SHIB has slowly declined.
Since Shiba Inu’s debut in 2020, the digital coin has continued to increase relevancy and maintain its presence in the cyrptocurrency community. In 2021 the coin’s price increased to and all time high of $0.00007957 and it burned over 7.2 billion tokens in just two months. Once the tokens are burned they’re permenantly removed from circulation and moved into dead wallets. Currently SHIB’s price is $0.00002491 with a market cap of $13.5 billion. However cryptocurrency investors are optimistic that once Shiba Swap 2.0 launches the coin may be on its way to another all time high later this year.
WHEN WILL SHIBA SWAP 2.0 LAUNCH?
The Shiba Swap 2.0 launch date has not yet been released, but the highly anticipated decentralized cryptocurrency exchange is expected to allow burning of the Shiba Inu coins on the platform. While burning crypto is not the only mechanism available to increase the price of a coin, it certainly is a valuable one.
WhaleStats has announced a list of the most popular tokens held by the largest ETH whales. The ETH whales reportedly hold over $1.4 billion worth of Shiba Inu digital tokens and hold over $1.8 billion worth of FTX tokens.
HOW HIGH WILL SHIBA REACH?
Investors believe that the Shiba Inu craze that begun in 2021 is far from over. The popular meme coin investors and enthusiast’s forsee Shiba Inu reaching at least $0.000053 by the end of 2022. This comes with anticipation of Shiba Swap 2.0 as well as CEO of AMC Entertament Adam Aron confirming that the popular movie chain will accept Shiba Inu and Dogecoin as payment methods at movie theaters. The news of AMC accepting the coin is part of their larger plan to embrace cryptocurrency and digital coins into their payment system.