Shiba inu ‘s marketing lead , Lucie, has responded to concerns about SHIB’s token supply, sharing a strategy for the future. The latest statement has sparked optimism in the community as enthusiasts expect a boost in SHIB price. Moreover, the community continued the burn efforts.
Shiba Inu Exec Reveals Token Burn Plan
A user on X recently expressed frustration about popular meme coin’s large supply. Lucie quickly addressed the issue, stating that developers can’t alter the SHIB supply. “The devs can’t change the SHIB supply because Ryoshi burned the keys, meaning no one has control over it,” she clarified.
Moreover, Lucie highlighted the importance of buying and burning SHIB to reduce its supply. She explained, “To reduce the supply, SHIB needs to be bought and burned, and that takes money.” However, she noted that a massive reduction requires millions or even billions of users.
“The plan is to build an epic system that brings in tons of people, using SHIBARIUM every day. The more users we have, the more SHIB can be burned, making it more valuable over time,” Lucie added.
This statement comes after Shibarium, Shiba Inu’s layer-2 blockchain, underwent a major upgrade. The September 13th update brought significant improvements. These include the Bor upgrade (v1.3.7) and Cancun hard fork, both aimed at enhancing performance, security, and scalability.
Key changes include the integration of Ethereum’s latest technology for smoother performance, reduced gas fees, and optimized cross-chain operations. The update also introduced improved storage management and enhanced security measures. Additionally, transaction speed has been boosted, while cross-chain transfers have become more stable.
As Shibarium becomes more efficient, the platform is now better positioned for growth. This could help attract more users, ultimately driving up SHIB burn rates and increasing its value.
What’s Next For SHIB Price?
Burning SHIB tokens is crucial for reducing the overall supply of Shiba Inu coins. By decreasing the number of tokens in circulation, the remaining tokens can potentially gain in value. Lucie, a prominent community figure, emphasized the importance of community involvement in this process, stating, “But this only works if everyone gets onboard. It’s all about growing the community and letting the system do its magic!”
Recent data indicates that Shiba Inu’s burn rate is on the rise. According to Shibburn, a dedicated SHIB burn tracker, a total of 14.17 million SHIB tokens were burned in the last 24 hours, representing a remarkable 38.79% increase. This surge in token burning has helped bolster investor confidence and reignited interest in SHIB within the cryptocurrency market.
At present, the price of Shiba Inu is hovering just above the $0.000013 support level, despite experiencing a recent dip of 2%. Market analysts believe that if the bullish trend continues, Shiba Inu could soon break through the $0.000015 resistance level. A recent price analysis conducted by Coingape suggests that if bullish momentum persists, the meme coin could potentially reach $0.0003 by the end of September.
The community’s active participation in the token-burning process is essential for sustaining this positive momentum. As more tokens are burned, the scarcity of SHIB could lead to increased demand and higher prices. This dynamic not only benefits individual investors but also enhances the overall perception of the Shiba Inu project within the broader cryptocurrency landscape.
Additionally, as the burn rate increases, the community’s engagement can foster a sense of unity and shared purpose among SHIB holders. By collaborating on burn initiatives and promoting awareness, community members can contribute to the project’s long-term success.
As the cryptocurrency market continues to evolve, the impact of burning SHIB tokens could play a significant role in shaping Shiba Inu’s price trajectory. Investors and analysts will be closely monitoring market trends and community actions, as they can influence the future value of SHIB. By maintaining momentum in the token-burning process and fostering community growth, the Shiba Inu project may experience sustained interest and value appreciation in the competitive crypto market.
