Lucie (@LucieSHIB), the Shiba Inu ecosystem’s marketing lead, recently shared an image showing Shiba Inu’s roadmap, outlining projects like WOOFVertise, SHY Mode, and the Shib.io Metaverse, generated excitement within the community.
However, some members expressed concerns about the lack of substantial SHIB burns, a common topic of discussion. The high circulating supply of SHIB is a factor some attribute to its current price, and community members have advocated for significant burns to increase the value of their holdings.
Addressing Community Concerns
Shytoshi Kusama, the Shiba Inu ecosystem lead, acknowledged the community’s desire for larger SHIB burns. After one user claimed he had failed the community because of the lack of massive burns, Kusama emphasized the distinction between smaller, temporary burns and a long-term strategy for reducing supply.
Kusama likened small burns to lighting a candle; offering a brief solution while achieving a significant and lasting impact requires a more comprehensive approach.
He further compared a major SHIB burn to “nuclear fusion,” highlighting the complexity and extended timeframe involved. This suggests the team prioritizes a sustainable approach over a quick fix for SHIB to enjoy long-term growth.
Ongoing Efforts to Reduce Circulating Supply
Unlike some in the community claim, the Shiba Inu team actively participates in SHIB burning initiatives. Revenue generated from various projects like Shibarium contributes to this effort. According to Shibburn, over 410.7 trillion SHIB have been burned since the meme coin’s inception.
Notably, over 56 billion SHIB tokens have been burned using a portion of Shibarium gas fees. Additionally, the team recently implemented an automated SHIB burning mechanism within Shibarium.
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This mechanism burns a portion of transaction fees, and as Shibarium adoption increases, more users will utilize BONE tokens for transactions. Importantly, 70% of the network’s base fees paid in BONE will be automatically converted to burn SHIB. This approach links the success of SHIB burning directly to Shibarium’s user base.
What’s Next for Shiba Inu (SHIB)?
While the community desires a rapid and substantial SHIB burn, the team prioritizes a long-term, sustainable solution. The ongoing implementation of burn mechanisms within Shibarium demonstrates their commitment to reducing circulating supply. The success of this strategy relies heavily on the community’s continued support and active participation within the Shibarium ecosystem.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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