Shiba Inu (SHIB) hit an all-time high of $0.00008616 in October 2021. Since its 2021 peak, SHIB’s price has struggled to gain momentum. The asset has fallen by nearly 86% from its all-time high price level. Shiba Inu (SHIB) fans and investors have pursued the $0.0001 price target for quite some time. Let’s discuss how many coins have to burn to achieve this target.

How Many Shiba Inu Tokens Must Be Burned To Hit $0.0001?

Let’s assume that SHIB’s market cap remains the same at roughly $7.2 billion. At a market cap of $7.2 billion and a price of $0.0001 per coin, the total supply of SHIB must be 72 trillion coins. This means that a total of 517 trillion SHIB tokens need to go to the dead wallet for the price to hit $0.0001. The number of tokens to be destroyed is far higher than the number of tokens burned by Vitalik Buterin in 2021. The Ethereum co-founder burned 410 trillion SHIB tokens after receiving half of the project’s entire supply.

On the other hand, if Shiba Inu’s (SHIB) market cap increases, then the number of tokens needed to be burned to hit $0.0001 will be a lot less.

The SHIB team is reportedly working on a new burn mechanism. The new burn mechanism is rumored to burn trillions of tokens yearly. If the team can drastically reduce the circulating supply, SHIB will hit the $0.0001 mark much sooner than anticipated. While the burn mechanism is highly anticipated, we do not have much information about it. The team is yet to disclose its workings and a launch date.

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However, burns alone will not lead to a price rally. Lead developer Shytoshi Kusama has also highlighted that adoption is the only way SHIB can hit a higher price point. If adoption can be met with higher burns, all the better for SHIB’s price.