To get the burn started, almost 400 Trillion coins were burned at one time. Looking through the daily burn, right now it looks like only several million a day. Today, US$1,000 equals around 30 million SHIB. So on a daily rate, currently the burns are only totaling a couple thousand dollars .
Read moreHow many Shiba coins are in circulation?
Shiba Inu trades for such a small fraction of a penny because its supply is so large. There’s currently a supply of 549 trillion SHIB tokens in circulation, giving it a market cap of around $11 billion.
Read moreWill Shiba ever reach 1 cent?
If Shiba Inu were to reach a penny, the cryptocurrency would be worth multiples more than Bitcoin. Because of the massive amount of capital required for SHIB to reach a penny, it’s highly unlikely this will happen .
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