Altcoin

Shiba Inu Exec Shares Plan To Burn More Tokens, SHIB Price To $0.0003?

Published

3 months ago

September 14, 2024

Lucie, the marketing lead for Shiba Inu, has responded to concerns about SHIB’s token supply, sharing a strategy for the future. The latest statement has sparked optimism in the community as enthusiasts expect a boost in SHIB price. Moreover, the community continued the burn efforts.

Shiba Inu Exec Reveals Token Burn Plan

A user on X recently expressed frustration about popular meme coin’s large supply. Lucie quickly addressed the issue, stating that developers can’t alter the SHIB supply. “The devs can’t change the SHIB supply because Ryoshi burned the keys, meaning no one has control over it,” she clarified.

Moreover, Lucie highlighted the importance of buying and burning SHIB to reduce its supply. She explained, “To reduce the supply, SHIB needs to be bought and burned, and that takes money.” However, she noted that a massive reduction requires millions or even billions of users.

“The plan is to build an epic system that brings in tons of people, using SHIBARIUM every day. The more users we have, the more SHIB can be burned, making it more valuable over time,” Lucie added.

This statement comes after Shibarium, Shiba Inu’s layer-2 blockchain, underwent a major upgrade. The September 13th update brought significant improvements. These include the Bor upgrade (v1.3.7) and Cancun hard fork, both aimed at enhancing performance, security, and scalability.

Key changes include the integration of Ethereum’s latest technology for smoother performance, reduced gas fees, and optimized cross-chain operations. The update also introduced improved storage management and enhanced security measures. Additionally, transaction speed has been boosted, while cross-chain transfers have become more stable.

As Shibarium becomes more efficient, the platform is now better positioned for growth. This could help attract more users, ultimately driving up SHIB burn rates and increasing its value.

What’s Next For SHIB Price?

Burning SHIB tokens plays a key role in reducing the overall supply. By decreasing the number of tokens in circulation, the remaining tokens can become more valuable. Lucie emphasized the community’s role in this process. She wrote, “But this only works if everyone gets onboard. It’s all about growing the community and letting the system do its magic!”

Recent data shows that Shiba Inu’s burn rate is already increasing. Shibburn, a SHIB burn tracker, reports that 14.17 million tokens were burned in the last 24 hours, marking a 38.79% rise. This has helped boost investor confidence and sparked renewed interest in SHIB.

Currently, Shiba Inu price is hovering above the $0.000013 support level despite a 2% dip lately. However, if the bullish trend resumes, analysts predict the meme crypto could break the $0.000015 resistance level soon. According to a SHIB price analysis by Coingape, the meme coin could even reach $0.0003 by the end of September if bullish momentum takes the front seat.