Community Opposition to SHIB Token Burn Proposal

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The Shiba Inu community, known as SHIBArmy, is against a proposal to burn 35.7 Ethereum to reduce SHIB tokens. They believe this won't impact the coin's value due to its large supply. Instead, they suggest using the funds for other ecosystem developments like Shibarium. The proposal by lead developer Shytoshi Kusama offers four options for fund usage, including community projects and burning tokens. However, the community prefers investing in growth areas. Currently, the burn rate has dropped significantly, indicating reduced interest in burning SHIB. Only 1.04 million SHIB were burned in the last 24 hours, a sharp decline from the previous day. Despite this, the overall supply of SHIB has increased to 589.27 trillion. Community members advocate for using funds to enhance the project's ecosystem and gain exposure through various channels for long-term benefits. Read more AI-generated news on: https://app.chaingpt.org/news

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