Shiba Inu Team Teases New Burn System & Higher Fees: What You Need to Know
The Shiba Inu community is buzzing! Get the latest on the hinted new burn system and potential fee increases on Shibarium. Stay informed about the future of SHIB and the entire Shiba Inu ecosystem.
New Burn System on the Horizon?
RagnarShib, a key member of the Shiba Inu ecosystem team, has shared an important update regarding the development of an automated SHIB token-burning mechanism on Shibarium. This auto-burn apparatus aims to streamline the process of removing SHIB tokens from circulation, potentially impacting its value and scarcity.
This follows a long period of anticipation. As reported, the team started teasing this launch over a year ago with an unending wait, and the community is eager to see the details revealed.
Shibarium & Increased Fees: A Necessary Trade-off?
Shiba Inu\'s marketing lead, Lucie, stated on that users should expect higher fees as Shibarium adoption grows. She said, “The more you use Shibarium, the higher the traffic...” This increase in traffic directly impacts the gas fees paid in BONE tokens. These BONE tokens then fuel SHIB burns on Shibarium, as the more transfers are made by users, developers and others, the more gas fees they pay.
Burning SHIB: A Closer Look
The current burn initiatives are already making a difference. SHIB burns on Shibarium are fueled by transactions. So far, the manual burns have eradicated 43B SHIB from circulation. Recently, Shiba Inu\'s burn rate spiked 50,000% with 13 million SHIB tokens removed, coinciding with the launch of Shib OS and Shibarium nearing 10M blocks. Shiba Inu inks 2.9% gains, showcasing the market\'s reaction to these positive developments.
Shibarium Burn Portal: Entering a New Era
Shiba Inu is entering a new age with the launch of its burn portal on the Shibarium mainnet. This portal represents a significant step towards a comprehensive token burn plan, as announced by Lucie, involving Shibarium\'s native tokens, including SHIB and others.
Stay tuned for further updates as the Shiba Inu team unveils more details about the new burn system and how it will affect the long-term value of SHIB. We will continue to provide timely information and analysis of this exciting development.