The price of Shiba Inu witnessed a massive surge of 27,000,000% in the initial ten months of 2021. This unprecedented rise was significantly driven by actions from Vitalik Buterin. As the founder of Ethereum, he received half of SHIB's total supply from Shiba Inu's anonymous creator and subsequently burned a majority of these tokens.
Buterin's burning of the tokens helped in reducing the supply drastically. This act of burning a large portion of tokens played a crucial role in bolstering the confidence of investors. Consequently, this increased investor confidence helped drive the price of Shiba Inu to new heights.
