Shiba Inu (SHIB) has risen 18 million times in five years; can the burn mechanism ignite the next bull run? Can the myth be replicated in the future?

Shiba Inu (SHIB) is undoubtedly one of the best-performing cryptocurrencies in the past five years. If you invested $1,000 in Shiba Inu (SHIB) in August 2020, that investment would now have grown to over $18 million. According to Changelly's return on investment calculator, your funds would have increased by 1,841,652% (1,841,652 percentage points).
In October 2021, the price of Shiba Inu (SHIB) reached an all-time high of $0.00008616. If you sold tokens worth $1,000 at the peak price of Shiba Inu (SHIB) assets, you would have made a profit of up to $103 million. In this case, your funds would grow by 10,303,317% (10.30 million%).
Is it too late to join SHIB?
SHIB's astonishing rise in 2021 was recorded in history. The driving force behind this surge was high demand and Vitalik Buterin's massive token burn. The Ethereum co-founder received half of the total supply of SHIB and decided to burn 90% of it. Buterin burned about 410 trillion SHIB tokens. With demand still strong, the supply of SHIB suddenly decreased. This move led to a significant price surge.
Shiba Inu (SHIB) is unlikely to have a similar burn like in 2021 again. The circulating supply of SHIB tokens is approximately 589 trillion. The high supply poses a barrier to SHIB's price. Reports indicate that the team is researching a new Burn Mechanism, rumored to burn trillions of tokens annually. If the project can reduce its supply, SHIB's price may rise significantly again.
Simply relying on the burn mechanism cannot drive the price rise. According to chief developer Shytoshi Kusama, the price of SHIB must have massive demand to increase. The project needs to build more applications on the Shibarium network to gain more usage. Only with increased demand can SHIB achieve higher price levels.