Altcoins News
By Sydney TheCMO
1 / 11
Shiba Inu, the meme coin determined to be the Dogecoin killer, may find favor with investors once more after Ethereum founder Vitalik Buterin burned over 410 trillion Shib tokens…
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The Ethereum co-founder recently received roughly 460 trillion Shib tokens from the Shiba Inu developers, believed to be part of their marketing campaign.
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“I’ve actually been impressed by how the dog token communities have treated the recent donations!” Buterin noted.
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The Ethereum co-founder also noted that he was pleased by all the Shib holders showing support through donations meant to make the world a better place rather than focusing on…
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Why Vitalik’s decision to burn the Shiba Inu tokens is a step in the right direction
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The creators of the Shiba Inu coins and platform made the tokens to be deflationary. Sounds somewhat intuitive considering the massive number of tokens that were made.
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The deflationary rate is a big deal for the Shiba Inu community because almost half of the initial supply of Shib tokens is no longer in the market.
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If the law of supply and demand continues to apply in Shiba’s case, its value should also continue to go up over time.
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Shiba Inu’s bearish momentum was curtailed by news of the token burn by the Ethereum co-founder. The meme coin has since bounced back from Sunday’s low of $0.
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Shib’s price surge roughly one week ago was courtesy of heavy speculation as people sought after the next big opportunity for gains from an undervalued digital coin.
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In retrospect, launching the coin with a deflationary token with a huge amount of tokens seems to be a smart move that will deter speculation.
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