shiba inu developers have confirmed that they will burn tokens following the launch of Shibarium Tier-2. If the regular burn model performs as expected, the price could exceed $0.01.
Token burns are also known as one of the ways to increase the value of the asset by reducing the circulating supply. If the Shiba Inu ecosystem also achieves the desired performance, the price may exceed the “1 cent” limit.
As a matter of fact, the developers did not give any details about the rate of burns. For this reason, it is unknown how much the burning will contribute.
SHIB has a circulating supply of 549 trillion, 50% of which has already been sent to dead wallets. The remaining half is still a major hurdle to reach the $0.01 milestone.
Shiba Inu Will Continue Burns After Shibarum
shibarium The layer-2 solution is the most anticipated development in the SHIB community. The network could be critical to sustainably increase the token price.
Shibarium developers have verified the burning mechanism, BONNETHe also reminded that it will be used for gas operations. As a matter of fact, SHIB burnings will also be done.
Shibarium Update 🧵
While on our last post we wanted to remind everyone that BONE 🍖 serves as the required gas token for operability within Shibarium, we would also now like to formally announce that each #shibarium transaction will burn 🔥 SHIB.
1/2 🧵 pic.twitter.com/zQRoOuL9oW
— Shibarium Network (@ShibariumNet) January 7, 2023