Main navigation

Shiba Inu Insider Offers Insightful Update on SHIB Burn by Shibarium

Mon, 09/18/2023 - 10:25
article image
Gamza Khanzadaev
When will SHIB be burned by Shibarium? Shiba Inu insider drops major news
Shiba Inu Insider Offers Insightful Update on SHIB Burn by Shibarium
Cover image via
Read U.TODAY on
Google News

In a recent development within the Shiba Inu community, a prominent team member, known by the nickname Lucie, shed light on the highly anticipated SHIB token burn through Shibarium, Shiba Inu's Layer 2 solution. Candid insights have sparked a wave of discussion and controversy within the community.

Shiba Inu (SHIB) Whale Activity up 48%, Here's How Much Was Moved

Addressing the burning question, Lucie explained that the timing of the SHIB token burn via Shibarium is contingent on community engagement. She stressed the importance of understanding SHIB tokenomics as a collaborative effort. She also argued that expecting burns to occur solely through transactions without active community participation is unrealistic.

The insider further emphasized the significance of migrating from exchanges to Shibarium, as the burns are tied to transaction activity. She highlighted the current minimal fees associated with Shibarium and the potential for increased fees with higher usage. Lucie encouraged the community to actively embrace Shibarium, reinforcing that SHIB burns are not solely the responsibility of developers but a collective endeavor.

Not enough

Despite clarification, her statements drew mixed reactions from some members of the SHIB community. Some expressed frustration over the absence of the announced mechanism for SHIB burns, while others criticized the lack of transparency regarding the expected burn amounts. One member even mentioned relocating their assets due to the perceived shortcomings.

Over Half Billion SHIB Burned in Quiet Shiba Inu Week: Details

As the Shiba Inu community continues to navigate these discussions, the future of SHIB burns remains a subject of keen interest and debate.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.