Shiba Inu (SHIB) lead developer Shytoshi Kusama joked that the project could soon burn down on a large scale. Kusama said nearly $1.2 million worth of SHIB tokens could face burning. In 2023, SHIB's burnout rate has taken a back seat, with sporadic, untimely burns occurring randomly. SHIB fans (popularly known as SHIB Army) have called on developers to increase their burning efforts to reduce the token's **.
Kusama's hint suggests that the Shiba Inu (SHIB) may soon have a peak in burn rates. SHIB's burning on the project's layer 2 network, Shibarium, has also increased. According to Shibburn, 50% of burns now occur online. Burning on the Shibarim is charged with Shibaswap Bone (Bone) as gas. So far, 1,367,845 have been accumulated42 Bone tokens, worth about $1.2 million. The gas fee will be converted to SHIB and sent to the dead wallet.
X user RandomArtz3 recommends using gas fees to burn Bone and SHIB. However, Kusama disagrees and says that the gas bill will only be used to burn Shiba Inu (SHIB).
Can Shiba Inu (SHIB) reach 0. after burning $1.2 million in tokens01 USD?
The removal of $1.2 million worth of SHIB tokens could have a positive impact on the popular Memecoin's **. However, given the high circulating interest of SHIB**, it is unlikely to reach 001 USD? The number of SHIB tokens currently in circulation is around 589 trillion. If the token** must reach 0$01, the team needs to drastically reduce the amount of tokens.
In addition to the massive burns teased by Kusama, the Shibarium network has recently forked to allow for more intensified burns. However, the team has not revealed how many tokens will be burned after the hard fork.
In addition, Shiba Inu (SHIB) again, its, with a zero added to the decimal point. The cryptocurrency market is facing a correction, possibly due to the release of US inflation data.