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Shiba Inu crypto to launch a burn portal for Shibarium!

Thu 07 Sep 2023 ▪ 5 min of reading ▪ by Mikaia A.

Once upon a time, on October 28, 2021 to be precise, SHIB reached an ATH of $0.000 081. Since that day, this cryptocurrency has been on a long downward spiral, to the detriment of the Shiba Inu community. Many crypto traders believed that the advent of Shibarium would right this wrong. Three weeks on, but the SHIB bull run has yet to show its face. However, Shytoshi Kusama, the lead developer of Shiba Inu, is said to have a solution, including the SHIB crypto burn. Zoom in!

Feu de charbon, photo de foule, logos de Shibarium et de Shiba Inu

In brief:

  • Shytoshi Kusama announces the creation of a SHIB burn portal associated with Shibarium
  • Shiba Inu not guaranteed the moon
  • Adoption remains the ideal solution for memecoin

Shytoshi Kusama only wants good things for his SHIB cryptocurrency

Shiba Inu’s lead developer made it clear that the recently launched Shibarium is not destined to cause SHIB to rise significantly. And this has been proven, given that we are just three weeks away from the launch of this second-layer blockchain on the mainnet.

For Shytoshi Kusama, burn plays a crucial role in the advent of a SHIB crypto bull run. Last April, he stressed that without crypto burn, there will be no bull run.

And the call was heard by the Shiba community: the month of April 2023 saw 125 SHIB transactions to “dead wallets”. Over 3 billion coins were burned in the process.

According to Bitcoinist, the implementation of this protocol will speed up the burn of SHIB tokens, especially during transactions. Back in March, the team behind America’s favorite memecoin pointed out that the scheme will result in the burning of 70% of base fees. The remaining 30% will go into the Shiba Inu network’s maintenance budget.

Need for crypto traders to rush into Shiba Inu

The SHIB burn is very important in raising the scarcity level of this cryptocurrency. However, it’s not a 100% guarantee that crypto investors will reach the 1 cent they’ve been dreaming of.

“We need to increase adoption,” reminds Shytoshi Kusama in the Shiba community’s Telegram channel.

It’s worth noting that altcoin already has a months-old SHIB burn portal. But the new device rather will be adapted to Shibarium.

The Crypto Basic made the presentation on this new crypto burning device back in January. According to this crypto media, the developers of Shiba Inu have promised to keep a modest sum in SHIB with every transaction made on Shibarium.

For the moment, we haven’t found any information regarding the share of cryptocurrency to be burned. However, this burn mechanism will ensure that the total supply of Shiba Inu in circulation is reduced.

“In line with the promise and request of the Shiba community, we confirm that all transactions on the network will have an implicit burn amount for the SHIB token,” the Shiba Inu team advanced at the time.

As such, its development will accelerate the adoption of Shiba Inu, as well as the use of the recently released layer 2 blockchain.

“We have to use Shibarium. It won’t burn SHIB until you use it! Integrating millions of people into Shibarium will take time and effort on the part of the community,” dixit LucieSHIB.

In any case, before a massive rush, the Shiba team has its work cut out for it. Especially after the botched launch of Shibarium, which did much to tarnish memecoin’s image.

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Mikaia A. avatar
Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.