Shiba Inu (SHIB) has become a major player in the meme coin market, often referred to as the ‘Dogecoin killer’ by its supporters. As SHIB continues to evolve, more investors are becoming curious about the tokenomics behind the project, particularly how many Shiba Inu coins are currently in circulation.
This article will break down Shiba Inu’s total supply, current circulation, and what it means for investors in October 2024. As always, Coin Push Crypto Alerts provides timely insights without offering buy or sell recommendations.
Understanding Shiba Inu Coin (SHIB)
Shiba Inu (SHIB) launched in August 2020 as an ERC-20 token on the Ethereum blockchain, making it more versatile than typical meme coins due to its compatibility with DeFi services and applications. This utility has set Shiba Inu apart from its competitors, allowing it to build projects like ShibaSwap (a decentralized exchange), NFTs, and even a play-to-earn game called Shiba Eternity.
These features, alongside its massive supply, have helped Shiba Inu grow into one of the top 20 cryptocurrencies by market cap as of October 2024.
Coin Push Crypto Alerts
Install mobile app to get profitable crypto trading alerts as mobile notifications.
Total Supply of Shiba Inu Coins
At its launch, Shiba Inu’s total supply was 1 quadrillion SHIB tokens—or one thousand trillion tokens. This massive supply made headlines and helped bring attention to the project. At the time, Shiba Inu had the largest token supply of any cryptocurrency.
However, a large supply doesn’t always directly impact the value of a coin. For many new crypto investors, the abundance of SHIB tokens created an illusion of affordability compared to more expensive tokens like Bitcoin or Ethereum. It’s important to note that a low token price does not necessarily reflect a low market cap or value of a project.
For more insights, learn about crypto risks and trends.
Stay tuned for more updates and resources as we continue to explore the exciting world of Bitcoin, Ethereum, altcoins, and more!
Current Circulating Supply of Shiba Inu (October 2024)
As of October 2024, the circulating supply of Shiba Inu has reduced significantly. Today, the supply stands at 589 trillion SHIB tokens. This reduction is primarily due to the token burning mechanism introduced by the Shiba Inu community and Ethereum co-founder Vitalik Buterin.
In 2021, Buterin burned 410 trillion SHIB tokens by sending them to a dead wallet, thereby permanently removing them from circulation. He donated the remaining tokens to charity. Since then, the Shiba Inu community has continued to burn tokens, making SHIB deflationary—meaning the supply is becoming scarcer over time.
Through a community voting system, SHIB token holders have the power to decide when burns occur, giving them control over the future supply. This scarcity-driven approach is designed to increase the value of SHIB over time.
Why Supply Matters to Investors
The value of any cryptocurrency is determined by its market cap, which is calculated by multiplying the price per token by the total circulating supply:
Market Cap = Price x Supply
In the case of Shiba Inu, even though its token price may seem low, its market cap places it among the top cryptocurrencies. As of October 2024, Shiba Inu has a market cap of approximately .6 billion, reflecting its wide distribution.
For investors, it’s not the number of tokens they own but the percentage of the overall supply that matters. For example, if an investor holds 10,000 SHIB tokens in a supply of 589 trillion, they own a minuscule portion of the overall supply. If token burns continue, reducing the supply, the relative value of their holdings could increase.
This concept is similar to traditional stocks. For instance, Apple shares are worth around $170 each, while Berkshire Hathaway shares are valued at $685,000 each. However, Apple’s market cap is much higher than Berkshire Hathaway’s because Apple has more shares in circulation. The price of an individual stock or token does not necessarily reflect the value of the entire project.
Future of Shiba Inu Supply
As Shiba Inu heads toward 2025, the supply will play a crucial role in determining its price movements. Token burns are expected to continue, but the exact amount burned will depend on community initiatives and decisions. As of now, there’s no clear indication of how many tokens will be burned in the future, though the Shibburn account on X.com tracks these burns in real-time.
Other factors that could impact SHIB’s price include staking, community-driven projects, and potential partnerships. As the project matures, supply control will remain a key focus for long-term investors.
Comparing Shiba Inu’s Supply to Other Cryptocurrencies
Let’s compare Shiba Inu’s supply with other leading cryptocurrencies in October 2024:
Bitcoin (BTC): Bitcoin has a capped supply of 21 million BTC, with over 19 million BTC already in circulation. Bitcoin’s halving mechanism reduces the number of new coins minted every four years, making it increasingly scarce. Bitcoin’s deflationary model is pre-programmed, while SHIB’s supply reduction is community-driven.
Dogecoin (DOGE): Dogecoin has a circulating supply of 141 billion DOGE tokens. Unlike SHIB, Dogecoin has an unlimited supply, with new DOGE tokens added each year, making it inflationary.
For more insights and tips on staying safe in the crypto market, follow Coin Push Crypto Alerts for the latest updates on crypto signals and alerts, ensuring you remain informed during the bull run of 2024.
Stay connected with Coin Push Crypto Alerts. As a reminder, we do not facilitate buying, selling, or trading, but we strive to keep you informed about the dynamic world of cryptocurrencies.
Disclaimer: All links provided are for informational purposes only. Coin Push Crypto Alerts does not endorse or take responsibility for the content or services provided on external websites.
Disclaimer: The information provided in this article does not constitute investment advice, financial advice, trading advice, or any other advice, and should not be treated as such. Coin Push Crypto Alerts does not recommend buying, selling, or holding any cryptocurrency. Always conduct your due diligence and consult a financial advisor before making any investment decisions.
Join Coin Push Crypto Alerts for Top Crypto Calls
There are indications that the crypto will be distributed to players over two years rather than all at once. This approach is likely designed to prevent a rapid drop in price after listing, with the intention that only the “whales” will remain to gradually buy up your coins.
Install Coin Push Crypto Alerts today and take the first step towards mastering the market in 2024. Choose reliability, choose transparency, and unlock the full potential of the upcoming bull-run.
Coin Push
Coin Push Crypto Alerts stands as a testament to the power of mathematical algorithms and data-driven analysis in providing actionable insights to traders. By prioritizing reliability and transparency, Coin Push Crypto Alerts empowers traders to make informed decisions and navigate the complex crypto market with confidence.
And always remember – No fortune telling, just math!
With Coin Push Crypto Alerts leading the way, traders can trade smarter, not harder, and seize the countless opportunities the crypto market offers. Choose reliability, choose transparency, and install Coin Push Crypto Alerts.
Follow Us on social @coinpushapp
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Trade Like a Pro with Coin Push Crypto Alerts
Are you looking to enhance your trading skills or confirm your strategies? AltSignals provides precise trading signals to help both novice and experienced traders. Explore Coin Push to stay ahead of the market and make informed trading decisions.
Install Coin Push Crypto Alerts today and take the first step towards mastering the market in 2024. Choose reliability, choose transparency, and unlock the full potential of the upcoming bull-run.
Note: Coin Push Crypto Alerts does not provide buy or sell recommendations but aims to offer educational insights to help you make informed trading decisions. For more detailed analysis and trading strategies, consider leveraging the insights from Coin Push Crypto Alerts. However, their effectiveness depends largely on how they are used. By understanding the nature of these signals, where they originate, and how to identify reliable ones, traders can make informed and strategic decisions, maximizing their potential for success.
What types of tasks can I complete to earn free cryptocurrency?
You can earn free cryptocurrency by completing various simple tasks known as microtasks. These include watching educational videos, participating in surveys, testing apps, clicking on advertisements, and even browsing the web. Platforms like Coinbase Earn and the Brave Browser offer opportunities to complete these tasks and receive cryptocurrency rewards without any financial investment.
Are there any risks involved in earning free crypto through online tasks?
Yes, there are some risks associated with earning free crypto through online tasks. While many platforms are legitimate, there are also scams that may ask for upfront payments or compromise your personal information. It’s essential to research any platform before signing up, avoid any requests for payment, and use secure wallets to store your earned cryptocurrency.
How can I maximize my earnings from completing tasks?
To maximize your earnings, consider signing up for multiple platforms that offer free crypto tasks. Consistency is key—make it a habit to complete tasks regularly to accumulate more rewards over time. Additionally, take advantage of referral programs to earn bonuses for inviting friends and family to join these platforms.
FAQ
How does SHIB’s supply affect its price?
The larger the supply, the more tokens must be bought for the price to increase. Token burns help reduce supply and, ideally, make each remaining token more valuable.
Is Shiba Inu a good investment in 2024?
While Shiba Inu offers utility through DeFi applications, its price remains speculative. Investors should consider both its burn mechanism and future developments when making decisions.
How does Shiba Inu compare to Dogecoin?
Shiba Inu’s burn mechanism and DeFi utility distinguish it from Dogecoin, which has no maximum supply. However, both tokens are speculative investments driven by community and media hype.
In conclusion, Coin Push Crypto Alerts advises investors to understand the tokenomics behind SHIB and keep an eye on the community-driven supply reductions as a potential indicator for future price movements. Stay updated on crypto alerts and trends with our platform as you navigate the 2024 bull run.
