This Shiba Inu (SHIB) AND Terra Classic (LUNC) ecosystems have become known for regularly burning tokens, the purpose of which is to enhance the value of these coins. A computer engineer has given his opinion on this burning mechanism, revealing between Shiba Inu and LUNC, which are likely to reach their desired target $0.01.

Will Shiba Inu and LUNC reach $0.01?

Computer engineer Charu Bey suggested on X (formerly Twitter) fasting that only LUNC is likely to reach its desired $0.01 target through its burn mechanism. He stated that the $0.01 price target is “it’s not a dream for LUNC,” meaning it’s more likely to become a reality at some point, although the engineer cautioned that this isn’t financial advice.

On the other hand, he expressed sadness for the Shiba Inu, while suggesting that the meme coin’s burning mechanism hasn’t changed much considering the token still has 589 trillion in circulation. He further noted that the SHIB community is “very quiet” about this development, unlike the LUNC community, which is still unhappy despite burning millions of LUNCs per daywith “only” 5.44 trillion tokens currently in circulation.

Shiba Inu and LUNC adopted similar burning mechanisms, with some transaction fees earned from burning tokens. LUNC, however, received additional assistance given that it is the world’s largest cryptocurrency exchange by market capitalization, Binance, also committed to burning the transaction fees collected from the token each month. Data LUNC Metrics data shows that Binance has burned almost 62 billion LUNC tokens (48.9% of the total tokens burned to date).

Meanwhile, the Shiba Inu had to rely on Shibarium Layer 2 Network for the majority of token burns last year. However, network activity on Shibarium has continued to ponderous down at times, leading to a decline in the rate at which Shiba Inu burns are conducted.

How Burning Tokens Could Make Shiba Inu Hit $0.01

According to Shiba Inu Fuel MonitorThe maximum supply of Shiba Inu in circulation will have to fall to about 126 trillion for its price to reach $0.01. This means that about 78.52% of the meme coin’s circulating supply must be burned to achieve this goal. Crypto YouTuber Jeff once he suggested that it was almost unlikely Shiba Inu to achieve this price target, claiming it would take about 1.1 million years to burn just 100 billion tokens.

Cryptocurrency analyst Oscar Ramos previously suggested that Shiba Inu could reach $0.01, but added that he doesn’t see the meme coin going above that level due to its circulating supply. He made the statement in response to the prediction Telegaon price prediction websitewhich showed that the price of Shiba Inu could reach $0.5 in 2040.

Featured image created with Dall.E, chart from Tradingview.com