Expert's opinion on whether the Shiba Inu and LUNC price can be sent to $0.01 by burns 🔥

Shiba Inu and LUNC Token Burns Analysis

Shiba Inu (SHIB) and Terra Classic (LUNC) ecosystems are renowned for their regular token burns. These burns are designed to enhance the value of these cryptocurrencies. A computer engineer recently shared insights on the burn mechanisms of Shiba Inu and LUNC. Let’s delve into the comparison to see which coin is more likely to achieve the coveted $0.01 milestone.

Expert’s Opinion on Shiba Inu and LUNC

Computer engineer Charu Bey predicted that only LUNC is poised to reach the $0.01 target through its burn mechanism.
While Bey believes in the feasibility of LUNC reaching $0.01, he expressed doubts about Shiba Inu due to its large circulating supply of 589 trillion tokens.

Comparison of Burn Mechanisms

Shiba Inu and LUNC both employ similar burn mechanisms, utilizing transaction fees for token burns.
LUNC benefits from additional support as Binance, the world’s largest crypto exchange, commits to monthly burns of trading fees earned from the token.

Shiba Inu Challenges

Shiba Inu primarily relies on the Shibarium layer-2 network for token burns but faces challenges due to intermittent slowdowns in network activity.

Analysis of Shiba Inu’s Path to $0.01

Shiba Inu’s burn tracker indicates that the coin’s circulating supply needs to decrease significantly to around 126 trillion for it to reach $0.01. This implies that a substantial portion, approximately 78.52%, of the circulating supply still needs to be burnt to achieve the desired price level. However, some experts have raised concerns about the feasibility of Shiba Inu hitting this milestone due to its circulating supply.

Expert Predictions and Forecasts

Crypto YouTuber Jeff has expressed skepticism about Shiba Inu reaching $0.01, citing the significant time it would take to burn even a fraction of the circulating supply.
Crypto analyst Oscar Ramos has suggested that while Shiba Inu could potentially reach $0.01, surpassing this level seems unlikely given its current supply dynamics.

Hot Take: Insights for Crypto Investors

As a crypto investor, it is essential to consider the burn mechanisms and circulating supply dynamics of cryptocurrencies like Shiba Inu and LUNC. While both coins aim to enhance their value through token burns, the feasibility of reaching significant price milestones must be carefully evaluated. Stay informed about the latest developments in the crypto space to make well-informed investment decisions.