In today’s video, cryptocurrency analyst Avi Lev examined what could happen to the price of Shiba Inu (SHIB) if 99% of the token’s circulating supply was burned. With over 100,000 YouTube subscribers, Lev analyzed this hypothetical scenario that has been discussed among SHIB investors and communities.
The 13-minute video titled “EXIT PLAN: TURNING $1000 INTO $1,428,571.43 WITH SHIBA INU” looks at the potential outcomes if nearly all of the available SHIB was taken out of circulation. Lev combined this supply burn scenario with the profits that could be made if SHIB hit its all-time high price again.
What you'll learn 👉
Current Status of SHIB
In the video published on October 15, 2023, Lev first noted the current status of SHIB’s price, which he said has been able to “hold the 700 level more or less.” However, he pointed out that SHIB has struggled to break through key resistance levels recently.
Massive Supply Burn Scenario
The hypothetical scenario Lev focused on was what would happen if 99% of SHIB’s circulating supply was burned. As he cited from another source, this would leave only 5 trillion SHIB in circulation based on the current supply.
Lev then explored what could happen if the remaining 5 trillion SHIB reached a price of $0.01 per coin. As he stated:
“If we have 5 trillion on the circulating supply and you times that by one cent, that would mean that you’d be at 58 billion market cap.”
While Lev acknowledged that this scenario is hypothetical, he noted that a $58 billion market cap is not entirely unrealistic for a major meme cryptocurrency in the long-term.
Assessing Potential SHIB Price Points
However, Lev also expressed skepticism about the viability of SHIB reaching $0.01 per coin, or the “one cent dream” as he termed it. He compared this to winning the lottery – possible but very improbable.
Instead, Lev shared his personal dream price target is $0.001 for SHIB, which he feels is more achievable organically as the crypto market grows.
Key Takeaways for SHIB Investors
Lev emphasized in the video that SHIB should not be viewed as a get-rich investment. He advised viewers to consider how to make money from SHIB in both the short and long-term. This includes determining responsible investment amounts and risk management strategies.
As Lev concluded, it’s essential for investors to assess their own comfort and capacity for risk. While acknowledging the crypto market is currently stagnant, he reminded viewers it can quickly shift based on historical cycles.
The supply burn scenario explored in Lev’s video reveals the potential for massive gains from SHIB if availability was severely reduced. However, the video provides more of a thought exercise than clear investment advice for achieving hypothetical profits. It underscores the importance of realistic targets and responsible risk-taking for SHIB investors.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com