Shiba Inu’s $0.00008 Peak: Was It All Thanks to Vitalik’s Burn?

In a revelation shaking the memecoin world, market analysts now question whether Shiba Inu (SHIB) could have ever reached its all-time high of $0.00008616 without the catalytic token burn by Ethereum co-founder Vitalik Buterin. During the 2021 bull run, SHIB’s meteoric rally was supercharged when Buterin incinerated 90% of the 50% supply he received at launch—a move that slashed circulating tokens and ignited a frenzy. Without that pivotal burn, experts warn the token might have faced a devastating 10% correction from its peak, as the sheer overhang of supply could have drowned demand. This hard-news analysis dives into whether SHIB’s historic surge was a one-time miracle born from a billionaire’s charity, or if the market fundamentals alone could have propelled it to such heights.

Could Shiba Inu Have Still Hit $0.00008 Without Vitalik Buterin’s Token Burn?

Shiba Inu (SHIB) had a supply of 1 quadrillion upon its launch in August 2020. Had Buterin not burned such a large amount of coins, the high supply would have most likely prevented the coin from making such a meteoric rise.

Vitalik Buterin is also one of the most recognized figures in the cryptocurrency sector. Shiba Inu’s (SHIB) association with Buterin also gave the project substantial validation. Many people likely became confident in putting money into the project by seeing Buterin’s association with SHIB, even though he was not involved int he project’s creation.

Therefore, it is highly unlikely that Shiba Inu (SHIB) could have hit the $0.00008616 peak without Buterin’s association and token burn.

Despite Buterin’s massive burn, Shiba Inu (SHIB) still has about 589 trillion coins in circulation. The large supply continues to present challenges to SHIB’s price. Many wonder when SHIB will hit the $1 mark. With its current supply of 589 trillion, it is almost impossible for the memecoin to ever hit the $1 mark. Moreover, just burning through the supply may also not cut it. Shiba Inu lead developer Shytoshi Kusama has stated that burns alone will not push the asset’s price. SHIB needs real world mass adoption for prices to rally.