One Year Of $SHIB Burns. Conclusions.

In his recent poll concerning which direction $SHIB burns should take in 2023, SHIB Super Store received a total of 705 votes, with 80% of participants supporting the "burn it all" model. What's curious is that only seven hundred people out of over 10K users following SHIB Super Store even cared to decide the fate of the burn project. Is the idea of burning $SHIB on the brink of extinction?

Burn Projects Are All But Extinct

It’s been over a year since the idea of sending millions of tokens to a dead wallet first emerged. Ever since then, a whole myriad of independent burn projects took their shot at delivering the ultimate burn tool to the community hungry for the odor of burnt $SHIB. From Youtube channels to postcards, even an entire search engine was made with the sole purpose in mind - to burn Shiba Inu.

Safe to say, most burn projects didn’t make it past their first year. Whether due to their inefficiency, technical obstacles, inability to scale, or their creators simply moved on, the truth of the matter is that they all by and large failed. Not even the official burn portal was able to keep the hype up for a long time. At present, it remains defunct.

Burn Rate Remains Sporadic At Best

Recently, SHIB Super Store, who specializes in burning $SHIB by any means necessary, has reported a 22% decrease in burn revenue, compared to the previous month. True, some months do better than others, some do worse - as it should be. However, one can’t stress enough the importance of noting that we’ve seen burns as a daily thing for over a year now. If anything, it's been enough time to safely conclude the hype for burns is either going up, or it's going down.

Last thirty days have seen roughly 900M $SHIB burned. Sounds like a lot, until you remember that the current supply of Shiba Inu remains well over 500 trillion tokens - that’s 500 followed by 12 zeros! Normally, 900M tokens burnt is something you’d expect to see reported daily, not monthly, if you were going to see any tangible results in the next several years, if at all. 

A recent analysis by analyticsinsight.net provides enough data to suggest that at current burn rates, it would take some measly 25,000 years to burn $SHIB to $0.05! Do humans even live that long?

The Future Of Burns

In order to make burns efficient, millions of dollars will have to be burned - on a daily basis! And until people can figure out who’s gonna kiss goodbye to that much of their own money, this current strategy of burning SHIB will continue to yield mediocre results at best.

*Our opinion* is that burns will persist for an indefinite amount of time in the future, purely as a hobby among a few stalwart supporters - something to do in the evening after an honest day’s work.