This strategy might boost Shiba Inu (SHIB) value above $0.10

Feb 21, 2022

This strategy could boost Shiba Inu (SHIB) value above $0.10

Reverse stock split strategy could boost Shiba Inu (SHIB) value above $0.10

The cryptocurrency is still far from hitting $0.10 with several initiatives and collaborative efforts that have resulted in the burning of nearly 259 billion SHIBs.

Will Ashworth has suggested that the team behind Shiba Inu should implement a crypto version of reverse split stock for SHIB to push the token’s price to greater heights.

According to Ashworth, using the reverse stock split strategy on Shiba Inu would reduce its total supply by more than 50%.

A reverse stock split is a company’s initiative to reduce the number of outstanding shares.

The team behind the project can choose to use a one-for-ten (1:10) reverse split, where one unit of the new SHIB token will replace every ten old Shiba Inu cryptocurrency. 

A percentage of the company’s profit is converted to SHIB and sent to an inferno wallet.