Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. i want help with calculating numbers for the shib

I want help with Calculating numbers for the SHIB token which is a Crypto Currency....

60.1K

Verified Solution

Question

Accounting

image

I want help with Calculating numbers for the SHIB token which is a Crypto Currency. I want to determine what the results will be if we burned/removed some tokens from circulation. All currency is in USD Current Price: $0.00000724 Current 24 hour Volume: $ 221.6 Million Current Market Cap $2.785 Billion Current Number of Tokens in Circulation: 394,8 trillion I researched and found the following: Market Cap = Circulating Supply * Price Price = Market Cap / Circulating Supply So for example if 100,000 people purchased $20.00 USD each at the same time that would be $2,000,000 into the volume and equal $264,900,662,251.66 SHIB Tokens purchased. Then if all those people burned those tokens those would be removed from the Circulating Supply. What will the new Market Cap and Price be? I want to know the calculations to figure this out

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students