Shiba Inu In its latest blog post, its developers confirmed that manual burning of SHIB tokens will stop this month. The developers stated that the Shibarium layer-2 network will soon start burning tokens automatically starting January 2024. Shibarium will switch to automation and be programmed to burn tokens automatically, eliminating manual burning processes.
This development will begin to reduce the circulating supply of Shiba Inu and contribute to the reduction of the token supply. Shibariumwill automatically burn SHIB tokens after collecting a total fee of $25,000 from users. This could enable SHIB to scale sustainably on indices and reach new numbers on the charts.
Shibarium charges users for initiating transactions on the network and this amount will be used to burn SHIB. 70% of base fees will be allocated to burn Shiba Inu tokens in Shibarium.
The remaining 30% of the allocated fees will be used to maintain the functionality of the layer-2 network. Therefore, the Shibarium network operates at 70% – 30%. 70% of the fees will be used to burn Shiba Inu tokens, while 30% will be used to maintain the network.
However, the first burns have not started yet, so the number of SHIB tokens that will be sent to the dead wallet is unknown. meme coinIn order to reach the $0.01 milestone in the future, it needs to significantly reduce its circulating supply. Unless Shibarium manages to burn trillions of tokens every year, reaching $0.01 will remain a distant dream.