Shiba Inu would take 25,000 years to burn to $0.05, new data

It would take over 25,000 to burn the Shiba Inu price up to $0.05, new data has revealed.

Shiba Burn Tracker made the estimation based on the rate of Shiba Inu burning in September, some 1.75 billion SHIB tokens destroyed. To take the burn wallet amount from 410.4 trillion to 900 trillion – or 90% of the initial supply – would take a further 25,269 years.

At the current market cap, this would take the Shiba Inu price to $0.05. That's a 300,000% return on any Shiba Inu you're holding.

Can't Shiba Inu burn tokens any quicker?

Won't Shiba Eternity pump the burn rate?

Shiba Eternity launched worldwide on October 10th. 

But with just over a week left in October fewer than half the number of tokens burned in September have been destroyed so far. At the October burn rate you're waiting 66,000 years for Shiba Inu to burn through 90% of the initial supply.

Just 5% of Shiba Eternity revenue will go towards burning SHIB. A further 45% is instead going towards an ecosystem development fund for the Shibarium blockchain.

It means that upping the Shiba Inu burn rate is still a way off.

Shiba Inu burning reached a peak in May this year, as a Shiba Inu burn portal was launched. But even at the May burn rate it would need 1,425 years to burn through 90% of the SHIB initial supply.

Are there other tokens burning faster to 90%?

EverGrow is a token that's already through 53% of initial supply – and it's only a year old.

EverGrow is a hyper-deflationary token which takes 2% of every EverGrow buy or sell and uses the funds to burn EverGrow. EverGrow burning is about to ramp up in October after it gained over $250,000 from NFT sales and trading fees on the LunaSky marketplace, 100% of which will be used to buyback and burn EverGrow.

By contrast, through September just $26,250 worth of Shiba Inu was burned.

Since EverGrow has a much smaller market cap than Shiba Inu the burn funds could have a dramatic effect on the EverGrow price before the end of 2022. According to EverGrow boss Sam Kelly, there could be enough for 60 days of green candles on the EverGrow buy charts.