About 4 days ago I posted something regarding the circulating supply for SHIB increasing in CoinMarketCap. In the post, I did some basic math to explain why the previous circulating supply was 398 trillion. Since then, I’ve done a bit more research to figure out why the new circulating supply is 549 trillion. And by research I mean someone’s explained to me how it’s calculated. Lol. So, here’s an explanation for why the circulating supply is actually 549 trillion, and don’t worry, it’s not as bad as it sounds.
CoinMarketCap measures three values when it comes to a coins supply. It measures Max supply, Total supply, and Circulating supply. Here’s a breakdown for how each is calculated:
• Max Supply = total amount of coins ever minted. In SHIB’s case, that’s 100 quadrillion. No more than this will ever be minted. For a coin that is mineable, the max supply will be “N/A” on CoinMarketCap. • Total Supply = max supply minus any tokens that are sent to a burn wallet. In SHIB’s case, approximately 410 trillion tokens have been sent to the burn wallet. 100 quad – (approx) 410 trillion = 589 trillion • Circulating Supply = max supply minus any tokens sent to a burn wallet minus tokens that are currently staked or yield farming. Or total supply minus tokens that are being staked or yield farming. I’ll do this calculation separately.
(Total) 589 trillion- (ShibaSwap(Bury+Dig)+UniSwap) 46 trillion = 543 trillion
This amount doesn’t account for SHIB staked on centralized exchanges. Those amounts I could not find. But, one can assume it’s about 6 trillion tokens since CoinMarketCap shows circulating supply at 549 trillion.
So, there you have it. Not a glitch. Just a misunderstanding. So what does this mean now? Well, for starters, it means people unstaked and removed their tokens from liquidity at our new ATH and took profits. Nothing wrong with that. And since then the circulating supply number has actually gone down a bit. So now more people are buying and staking their SHIB. The wallets are increasing and SHIB is trending on multiple platforms daily. So, don’t worry. No tokens were added to the supply, as some YouTubers would have you believe. They just didn’t want to do their own research. Which is always important when you talk about something you claim to know about. All this dip means is that it’s a good time to start thinking about building your bag again. People get scared when this type of stuff happens so, it’s up to us to make sure we have the full story. Even if we have to find that info out ourselves and show it to others. No one ever made profit by selling at a loss.
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