How Many Shiba Inu Coins are Left in Circulation
In the dynamic world of cryptocurrencies, the rise of meme coins has captivated investors and enthusiasts alike. These coins, often born from internet culture and virality, have gained significant traction and amassed dedicated communities. Among the most prominent players are Shiba Inu (SHIB) and Golden Inu, two meme coins that have garnered attention for their unique approaches to token economics and potential growth strategies.
How Many Shiba Inu Coins are There After Burn
- In the initial token distribution, Vitalik Buterin (co-founder of Ethereum) was given 50% of the total supply, which he subsequently burned by sending 410,241,996,771,208 SHIB to a dead wallet address in May 2021.
- The Shiba Inu team has also conducted regular token burns by sending SHIB from the ecosystem fund to a dead wallet. As of early 2023, over 41% of the initial supply had reportedly been burned.
- Furthermore, a portion of transaction fees on the Shibarium Layer-2 network are also being burned continuously.
Shiba Inu’s Burning Mechanisms
Shiba Inu has initiated its token burning journey through Shibarium Layer-2 network transaction fees, where a portion of fees paid in SHIB is permanently removed from circulation. Additionally, the Shiba Inu community organizes burn initiatives, encouraging holders to send SHIB tokens to a dead wallet address, effectively burning them and reducing the overall supply permanently.
Golden Inu’s Tokenomics and Burning Potential
Golden Inu’s tokenomics and distribution strategy will be crucial in determining its potential for token burning. The project’s initial supply and any burning plans will shape its growth. If Golden Inu’s team and community adopt burning mechanisms, they might achieve a faster or more impactful burn than Shiba Inu, depending on factors like initial supply, adoption rates, and burning strategy effectiveness.
The Golden Inu token, a rising star in the meme coin market, has garnered significant attention. Its unique tokenomics and burn strategy are central to its appeal. This article delves into the current supply of Golden Inu tokens after burn events and what it means for investors.
Total Supply and Circulating Supply
- Initial Total Supply: 50,600 trillion GOLDEN
- Self-reported Circulating Supply: 34,678.44 trillion GOLDEN
Burn Mechanism
Burning tokens is a method used to decrease the total supply, theoretically increasing the value of the remaining tokens. Golden Inu employs automated token burns through its project utilities, such as the Golden Bazaar and Golden Inuverse game.
Golden Inu offers an engaging gaming experience through its Golden Bazaar and Golden Inuverse game. Here’s a step-by-step guide to getting started with these games via the official Golden Inu website.
Step-by-Step Guide
1. Visit the Official Website
2. Create a Crypto Wallet
- Create a compatible crypto wallet (e.g., MetaMask) if you don’t already have one.
- Ensure your wallet is set up on the BNB Chain.
3. Acquire GOLDEN Tokens
- Purchase Binance Coin (BNB) on a major exchange like Binance.
- Transfer BNB to your MetaMask wallet.
- Visit PancakeSwap via the Golden Inu website to exchange BNB for GOLDEN tokens.
4. Register for the Golden Inuverse
- On the Golden Inu website, navigate to the Golden Inuverse section.
- Click on “Register” or “Whitelist” to create your gaming account.
- Follow the prompts to link your MetaMask wallet and sign up.
5. Download the Game
- Once registered, download the Golden Inuverse game from the website.
- Install the game on your device.
6. Start Playing
- Open the game and log in with your registered account.
- Explore, battle, and trade within the Golden Inuverse.
Key Features of the Game
- In-game purchases and character customization.
- Exploration, battles, and trading in a virtual world.
- Opportunities to earn passive income with GOLDEN tokens.
Post-Burn Token Supply
- Total Supply After Burn: Approximately 49,000 trillion GOLDEN
- Effect of Burns: Significant reductions initially, tapering off as token value increases
Market Impact
- Current Price: $0.0000000000079 per GOLDEN
- Market Cap: $1.17M
- Volume (24h): $88,130.92
Calculating Potential Value
Let’s take an example to illustrate potential value changes:
- Current Price: $0.0000000000079 per GOLDEN
- Price Target: $0.05 per GOLDEN
- Calculation: For $1 (with 7% slippage), you get 116,861,362,672 tokens. If the price reaches $0.05, the value would be 116,861,362,672 x $0.05 = $5,843,068,133.
While reaching $0.05 may be unrealistic due to the large supply, significant price increases are still possible as burns continue.
The Need for Burning Meme Coins
- Meme coins like Shiba Inu and Golden Inu often have substantial initial token supplies.
- Large supplies allow for widespread distribution and accessibility.
- Significant price appreciation can be challenging due to traditional supply and demand dynamics.
- Shiba Inu launched with an initial supply of one quadrillion tokens (1,000,000,000,000,000 SHIB).
- Golden Inu, launched in February 2023, likely has a substantial initial supply, though exact figures are unconfirmed.
- Implementing token burning mechanisms could benefit both Shiba Inu and Golden Inu.
- Token burning involves permanently removing a portion of the circulating supply from the market.
- This reduction in overall supply creates scarcity.
- Scarcity is a crucial factor in driving long-term value appreciation.
The Future of Burning for Meme Coins
As the meme coin phenomenon evolves, token burning may become more standardized, with increased transparency and oversight. Nonetheless, potential drawbacks like manipulation and lack of accountability must be considered. Exploring alternative supply reduction and value creation strategies is crucial for long-term sustainability and growth.
Conclusion
The burning of meme coins like Shiba Inu and Golden Inu offers both opportunities and challenges. Effective burning can create scarcity and drive value, but achieving significant burns requires a holistic approach. Combining burning mechanisms, utility development, and strategic partnerships is crucial for sustainable growth. Success hinges on innovation, transparency, and community engagement.
