Shiba Inu's 2021 Rally Unlikely to Repeat Due to Slow Token Burn

Shiba Inu experienced a remarkable multi-million percent rally in 2021, largely fueled by a significant token burn initiated by Vitalik Buterin, which led to a supply-demand imbalance. According to NS3.AI, the cryptocurrency currently has around 589 trillion coins in circulation, with a substantial portion held by large investors. This concentration of holdings makes another similar rally improbable. Although new mechanisms for burning tokens are being developed, the rate of supply reduction is insufficient to trigger comparable price increases in the near future.