It is no longer news that the Shiba Inu (SHIB) burn project seems to be a crucial aspect that could help propel the growth of the second-largest dog-themed token.
Intriguingly, Shibarium, the much-anticipated L2 solution, is seemingly closer to its mainnet launch, and the Shiba Inu community is already analyzing its SHIB token burns ability. Considering the features of the Shibarium and other significant factors, some Shiba Inu advocates have projected a 5 trillion monthly burn for SHIB tokens.
Taking to Twitter, SHIB Bezos, a Shiba Inu community proponent, announced the possibility of a potential 5 trillion SHIB monthly burn with the help of Shibarium.
In addition, the Shiba Inu advocate claimed that this year would mark the onset of an unprecedented bullish run for SHIB. This particular sentiment is common among other SHIB enthusiasts, as they look forward to the launch of Shibarium at the Blockchain Futuristic Event in August.
Obviously, Shiba Inu (SHIB) can’t print remarkable figures and market indices without having to decrease its enormous circulating pool of about 589.3 trillion.
Based on mathematical calculations, should Shibarium pull off a monthly burn rate of 5 trillion SHIB tokens as envisaged by the crypto proponent, ii would require five years to destroy half of the Shiba Inu supply.
Notably, the significance of Shibarium in enhancing SHIB’s burn rate will depend on its adoption rate and the number of projects developed on the Shibarium network.
Meanwhile, in one of our previous news articles, we reported how Lucie, a renowned content creator for the Shiba Inu ecosystem, took to Twitter to describe Shibarium’s functionality with emphasis, particularly on the burn rate. A forum member even suggested that SHIB’s monthly burn rate could exceed 20 trillion or 5 trillion coins.
Despite all the hype and potential surrounding Shibarium and how it can improve SHIB’s burn rate, some advocates remain pessimistic about the project’s potential, discarding the 5 trillion monthly burn rate as mere wishful thinking.
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London, United Kingdom, 21st November 2024, Chainwire