Shib Army Predicts Massive SHIB Burns with Shibarium Upgrade: Will Burn Rate Explode?
The SHIB Army is buzzing with excitement! Predictions are soaring that the release of the Shibarium upgrade, specifically Shibarium Bor v1.1.2-bone, will trigger a significant increase in Shiba Inu (SHIB) burns, potentially impacting the coin\'s price and scarcity.
Shibarium\'s Auto-Burn Mechanism: The Key to Increased Burns?
Centered around enhancing the chain’s Shiba Inu ecosystem, Shibarium, Shiba Inu\'s Layer 2 solution, is seeing major shifts as it gains adoption. A core component driving this optimism is the Shibarium auto-burn mechanism. The Shibarium auto-burn mechanism will be part of the hard fork, dubbed Bor version v1.1.2-bone by Shibarium’s developer team. This mechanism is designed to automatically convert a portion of transaction fees into SHIB tokens and permanently remove them from circulation.
Bor v1.1.2-bone: The Burn Hardfork
Shibarium Bor v1.1.2-bone (Burn HardFork) is here. We have released a new version of Bor v1.1.2-bone containing the Burn hardfork. Starting at a specific block, 70% of all base transaction fees collected on the Shibarium network will be automatically converted to SHIB tokens and permanently removed. This is a game changer for the SHIB community.
Will the Burn Rate Skyrocket?
The SHIB Army has speculated that burns of the coin will increase with the long-awaited release of the Shibarium upgrade. The initial burn rate has already shown promise, with past reports highlighting significant spikes. For example, Shiba Inu’s burn rate increased by 786%, reducing supply, and in another instance, a Spain-based Shiba Inu SHIB burn rate jumps 151%.
Past Burns and Future Potential
On January, the Shibarium network, a Layer-2 scaling solution built on Ethereum, executed a burn of 1 billion SHIB tokens, as reported by The Shib. These past burns, coupled with the anticipated effects of the auto-burn mechanism, fuel the Shib Army\'s belief that substantial burns are on the horizon. Tremendous SHIB burns promised by the SHIB team along with the Relaunched Shibarium expands rapidly in these metrics provides even more hope.
Anticipation Builds Within the SHIB Army
Given that the proposed dates have now materialized, the SHIB Army brews in anticipation of the burn endeavor commencing. All eyes are now on the Shibarium network to see if the predicted surge in SHIB burns becomes a reality. The long-term effects on SHIB\'s price and overall ecosystem remain to be seen, but the initial optimism within the community is undeniable.