According to U.Today, Shiba Inu’s official marketing lead, Lucie, has issued a warning to the global crypto community. In a recent post on X, Lucie emphasized the vast opportunities provided by cryptocurrencies, noting that while some individuals may profit significantly or even build generational wealth, others could face substantial losses. She stressed the importance of decentralized finance (DeFi) and self-custody, urging crypto holders to maintain control over their private keys by using cold wallets. Lucie’s message highlighted the potential and risks associated with the crypto space, ultimately leaving the decision to the individual investor.
In addition to her warning, Lucie also discussed an upcoming development for Shiba Inu. The SHIB team is preparing for a hard fork on Shibarium, which will introduce a new version of Shibarium’s core component, Bor. This upgrade will include the implementation of a long-awaited burn mechanism designed to reduce the circulation of Shiba Inu coins. Initially teased in January, this mechanism will transition SHIB burns from a manual to an automated process. Specifically, 70% of transaction fees on Shibarium, paid in BONE tokens, will be automatically converted into Shiba Inu coins and sent to unspendable blockchain wallets, effectively burning them.
On Thursday, the SHIB community successfully burned over 105 million SHIB coins, significantly increasing the daily burn rate by nearly 140,000%, according to data from the Shibburn platform. This development marks a crucial step in the ongoing efforts to manage the supply of Shiba Inu coins and enhance the overall value of the cryptocurrency.
