- Owing to the launch of Shibarium, Shiba Inu’s burn rate is now poised to skyrocket significantly.
- A prominent figure in the Shiba Inu community maintains that Shibarium is, by design, helping to keep the Shiba Inu ecosystem decentralized.
The launch of Shabirum could have changed the game for the Shiba Inu memecoin. Community members are hoping that Shibarium’s launch will set the groundwork for Shiba Inu to kickstart a long-term bullish rally.
After the highly anticipated Shibarium layer-2 blockchain, sentiments surrounding the entire Shiba Inu network have become even more positive. For Shiba Inu (SHIB) particularly, the burn rate could significantly increase and result in an upsurge in the price value of the Shiba Inu token.
In a recent post shared on X (formerly known as Twitter) Lucie, a Shiba Inu representative, detailed the impact that Shibarium could have on Shiba Inu.
Lucie’s post went on to first push back on the narrative that influencers are driving the Shib burn rate. She explained that Shiba Inu is completely decentralized and that external figures have no access to the token’s supply. It is important to understand that Shib burns are a result of an increase in the use of Shibarium, she added.
Just wanted to give you a friendly heads up about some influencers making big promises about SHIB burns. There are no keys to the SHIB supply. Completely decentralized. Whatever gets burned is simply a result of people buying and using Shibarium. Honestly, they might not have the best understanding of Shib Tokeomics.
STAY INFORMED
Just wanted to give you a friendly heads up about some influencers making big promises about $SHIB burns.
There are no keys to the $SHIB supply. Completely decentralized.
>> Buy Shiba Inu (SHIB) quickly and securely with PayPal, credit card or bank transfer at eToro. Visit Website <<Whatever gets burned is simply a result of people buying and using #Shibarium.… pic.twitter.com/X35w1lPkPq
— 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB) August 30, 2023
Shibarium will function as a breakthrough technology for Shiba Inu and potentially increase demand
Going forward, she clarified the financial position of Shibarium developers, pushing back on the rumors that they are billionaires. Meanwhile, at Shibarium’s core, burning SHIB and lowering gas fees are the key changes the blockchain brings to the Shiba Inu ecosystem. As such, millions of users can influence burn rate through usage. Instead of a small group of influential users changing the network, Shib’s burn rate can be heightened through community effort.
Breaking down the burn process, Lucie explains that every time a user utilizes the Shibarium network, a small amount of Shib gets burned. However, the reduction in Shib supply might not be as visible in the beginning stages. It will take an 8-12 months time frame for the changes to reflect, Lucie explained.
Every time you use Shibarium, a little bit gets burned. We’ll soon find out how much has been burned in the upcoming updates. No need to rush, my friend.
This is all part of a long-term plan. The real impact of Shibarium will start to show in 8-12 months. FACTS over HYPE. Less likes , but hey TRUTH is truth.
It is worth noting that following the launch of Shibarium, Shib burnt more than 5 billion tokens in August. If the pace is sustained, Shib could burn well over 50 billion tokens within the next 11 months.
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