Shiba Inu price prediction: If Musk follows Vitalik and burns tokens, SHIB may skyrocket!

The Shiba Inu (SHIB) community recently challenged Tesla CEO Elon Musk to follow in the footsteps of Ethereum co-founder Vitalik Buterin, who in 2021 burned a large amount of SHIB tokens. Supporters believe that with Musk's influence and social media reach, this action could trigger a dramatic market reaction, causing the SHIB price to skyrocket instantly.

Community Challenges Musk: Surpassing Vitalik's 'Cool'

SHIB enthusiast Luca Wizard directly called out Musk on social media: "@elonmusk should burn $SHIB, or he'll never be cooler than @VitalikButerin."

This challenge is not only a public call to Musk, but also a psychological battle—leveraging his desire to be the "coolest tech leader" to push him into action. The community knows that Musk has been able to shake the crypto market with just a few tweets in the past, and if he truly participates in the SHIB burn, the impact will far exceed that of a typical market event.

Vitalik's 2021 Coin Burn Event

In 2021, SHIB founder Ryoshi transferred half of the total supply (approximately 500 trillion coins) to Vitalik Buterin.

Vitalik did not cash out; instead, he transferred most of it into a "dead wallet," permanently exiting circulation, and donated the remaining portion to India to fight the COVID-19 pandemic.

This action significantly reduced the supply of SHIB and triggered strong bullish sentiment in the market at the time, becoming a key turning point in SHIB's history.

What will happen to SHIB if Musk intervenes?

(Source: Trading View)

If Musk follows Vitalik's example and destroys a large amount of SHIB, it may have three major effects:

1. Supply Shock: Reducing circulating supply creates a scarcity effect, driving prices up.

2. Market sentiment explosion: Musk's involvement will attract global media and investor attention, bringing a new wave of FOMO (fear of missing out) sentiment.

3. Community cohesion enhancement: The SHIB community will use this as a historic event to further expand brand influence.

Considering the market capitalization and liquidity of SHIB, if the burn rate is sufficiently high, the price may experience double-digit or even higher increases in the short term.

Reality and Challenges

Although the community's voice is rising, it remains uncertain whether Musk will hold and burn SHIB. Unlike Vitalik's situation in previous years, Musk has not publicly stated that he holds a large amount of SHIB. In addition, the market should be wary of the risk of "news hype followed by a decline," as short-term speculative funds may quickly take profits at the peak.

Conclusion

The "burn coin challenge" issued by the SHIB community to Musk is undoubtedly a high-profile market PR battle. If Musk truly follows in Vitalik's footsteps and reduces the circulating supply of SHIB, the chances of a price surge are extremely high. However, all of this still depends on his attitude and actions. For investors, while paying attention to the development of events, they should also carefully assess the short-term volatility risks. For more SHIB and cryptocurrency market dynamics, please follow the official Gate platform.