The Shiba Inu Coin has started to gain traction in the markets again, as news came out that Vitalik Buterin has burned 40 per cent of all Shiba Inu Token supply, driving up prices through demand. As per an article by Benzinga.com, Vitalik Buterin on Sunday burned 40 per cent of all Shiba Inu token supply by sending a total of 410 trillion SHIB tokens to an unusable and inaccessible wallet, thereby effectively removing those coins from circulation forever. Basically, 40 per cent of all Shiba Inu Coin has been removed from the supply forever. With such a huge change in the supply, there are bound to be changes in the Shiba Inu Coin price. Read on to know what experts think about Shiba Inu Coin price prediction.
What is Shiba Inu Coin?
According to their official website, the Shiba Inu Token (SHIB), is an experiment in decentralised spontaneous community building. The creators of this token have created it from inspiration from Dogecoin. However, the creators of Shiba Inu aim to make SHIB more than just a joke. The SHIB Token is an ERC-20 compatible with the Ethereum network. The Shiba Inu has been called ‘Dogecoin Killer’ by its community.
This cryptocurrency has quickly gained worldwide attention, in part because of the rising popularity of Dogecoin. The Shiba Token is also supported by a large community of coin holders who support and promote the coin on social media like Reddit and Twitter. Now that Vitalik has burned off almost half of Shiba Inu supply, the price will rise due to the sharp difference between demand and the new shrunken supply. When the 40 per cent token burn news broke out, the price of SHIB immediately went up.
Shiba Inu Coin Price Prediction?
While making crypto price predictions can be difficult, there are many crypto experts who have given their Shiba price predictions. According to Digital Coin Price, Shiba Inu Coin highest price can rise up to $0.00004607 by the end of 2025. The Wall Street Investor has a more negative outlook, predicting that Shiba Inu Coin will fall to $0.000029 to $0.000016 by 2022. However, readers should take these predictions with a grain of salt. Crypto investors can buy Shiba Inu Coin in India through various exchanges like WazirX and many more.