In addition to being a coin, Shiba also has an ecosystem. Assuming demand stays the same, a decreasing supply will naturally lead to a higher price. Some investors believe that this high burn rate could cause Shiba’s price to rise. This lowers the total supply of coins in circulation and can help boost the price.Īccording to, Shiba Inu’s daily burn rate is approximately 26,000%. Once the coins are in this new wallet, they cannot be used and are removed from the network. Users can do this by bulk transferring tokens to a different wallet that is only designed to receive coins. A cryptocurrency’s burn rate is the process by which users remove tokens from circulation. Shiba coin also has an incredibly fast burn rate. This way, it’s easy for everyday investors to buy up large amounts of Shiba coin. This massive supply helps to keep the price of Shiba coin incredibly low. For reference, there will only ever be 21 million Bitcoins in existence. Now, its total supply is about four quadrillion tokens. Shiba coin started with an initial supply of one trillion. It has set itself apart from other coins by creating an absolutely massive supply. With this in mind, let’s take a look at Shiba coin investing and whether or not it’s right for you.Īccording to Coinbase, Shiba Coin (SHIB) is a token that aspires to be an Ethereum-based alternative to Dogecoin. Despite this, it still costs just a fraction of a cent. Shiba coin has risen an astounding 1,500,000% since it was created, including 21,700% in the past year alone. Shiba coin investing is based on the friendly face of a Shiba Inu. However, fewer people are familiar with Dogecoin’s cousin: Shiba Inu Coin (SHIB). Now, it’s one of the largest cryptocurrencies in the world with a market cap of about $18 billion. Dogecoin is a cryptocurrency that started as a joke but actually gained mainstream popularity.

By now, most people are familiar with Dogecoin.

Shiba coin watch