Burning Tokens for 1,157,174 Years? Shiba Inu’s Unprecedented Supply Reduction Plan

• Jeff at OnTheChain.io revealed that it would take 1,157,174 years to reduce Shiba Inu’s supply to 100 billion tokens.
• Jeremy Hogan commented on Jeff’s tweet by saying that it would be impossible and unrealistic for the crypto to take those years to burn its tokens to about 100 billion tokens.
• Initially, Shiba Inu developers did not include the token burn in the crypto’s whitepaper, but the community has gradually started burning tokens to reduce the supply and increase the value of the coins.

Crypto analyst Jeff at OnTheChain.io recently took to Twitter to reveal an interesting fact about the Shiba Inu coin. He stated that if the crypto were to burn 1 million tokens per day, then it would take about 1,157,174 years for the entire supply to be reduced to 100 billion tokens. This is a very long time, considering that Shiba Inu originally began with one quadrillion tokens.

The comment section of Jeff’s tweet was filled with reactions from crypto enthusiasts, however, one particular comment stood out. $XRP lawyer Jeremy Hogan commented on Jeff’s tweet by saying that „so, you’re saying it’s possible.“ In other words, his comment appears to mean that it would be impossible and unrealistic for the crypto to take those years to burn its tokens to about 100 billion tokens.

This is because, initially, Shiba Inu developers did not include the token burn in the crypto’s whitepaper. This means the burning was not planned at the beginning of the project. The first major Shiba Inu burn took place in June 2021 when Ethereum co-founder, Vitalik Buterin, burned 90% of the SHIB tokens sent to him (thus burning 41% of the Shiba Inu supply) to reduce the number of coins in use. That’s how the Shiba Inu community began committing themselves to burning SHIB tokens.

Since then, the Shiba Inu community has gradually been burning tokens to reduce the supply and increase the value of the coins. However, there is still a lot more burning that has to be done for the token price to ever reach $1 or even $0.01. The burning of tokens has to be a continuous endeavor and will depend on the management of Shiba Inu.