shibariumis preparing to reveal a never-before-seen burning mechanism that promises to burn trillions of SHIB tokens. SHIB’s lead developer, Shytoshi Kusama, has confirmed that the launch of Shibarium is already planned and cannot be changed.
Launch of Shibarium and SHIB Burn
shiba inu Shiba Archives, the Twitter account for updates, shared the new burning mechanism. The introduction of Shibarium, along with its unique burning mechanism, caused great excitement among the members of the SHIB team.
According to many, the launch of Shibarium is possible as early as next month. That too crypto- It is believed that it will increase the expectation in the community even more.
According to the SHIB development team, it is possible for Shibarium’s burning mechanism to burn an astonishing 5 trillion coins each month. As reported by Shibburn, 1 billion SHIB was burned in June. This represents an approximately 89.25% decrease in token burn from May to June, when over $15 million tokens were burned.
Lucie, Content Marketing Specialist from the Shiba Inu team, on Twitter for Burns made:
$SHIB BURN X #shibarium, #shibarium significantly impacts the Shib ecosystem by introducing a burning mechanism that reduces the supply of $SHIB . When users make transactions on the network, the base fee is locked on a Shibarium contract, while the priority fee is paid to… pic.twitter.com/uhqvwDWgdW
NEWS CONTINUES BELOW— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) June 30, 2023
Shibarium’s user-friendly portal simplifies this process, making it accessible to everyone. Users contribute to the permanent removal of SHIB tokens from circulation by clicking “Initiate burn” and confirming transactions.
Shiba Inu Price Action
The Shiba Inu is trading at $0.00000766, with a minimum gain of 1.24% at the time of writing. Second largest with a market cap of $4,524,839,440 meme coin continues to be. Transaction volume increased by 15.64%.
According to meme coin price analysis, SHIB price is currently witnessing a steady downtrend. However, it is possible that it will trigger a trend change soon as the broader market is showing signs of recovery.