Shiba Inu's large token supply is seen as a major challenge by the community.
Lucie implies a community effort to reduce the supply through buying and burning tokens.
The success of the plan depends on broad participation from millions of users.
Shiba Inu’s marketing lead Lucie recently addressed concerns about the token’s massive supply of 589.27 trillion tokens. This large supply has raised worries within the community about its impact on SHIB's market value. Lucie explained that developers cannot reduce the token supply since the control keys were burnt by the project’s creator, Ryoshi.
Developers Face Limits and Community Concerns
Lucie stated that Shiba Inu’s developers cannot alter the token’s supply because the control keys are gone. This action by Ryoshi means the developers have no way to change the supply. As a result, many in the community feel frustrated and see the large supply as a major obstacle to SHIB's growth.
https://twitter.com/LucieSHIB/status/1835547663523021034
The community has voiced concerns about SHIB’s long-term value. They believe that if the supply remains high, SHIB’s potential value may be limited, which could make it less appealing to investors.
A Community-Driven Token Burn as a Solution
To address these concerns, Lucie suggested a community-driven approach to reduce SHIB’s circulating supply. This strategy asks users to buy and burn tokens to remove them from circulation. However, this method needs substantial financial resources and strong community support to succeed.
The plan’s success depends on collective action from millions of users. Without broad involvement, the effort may not significantly reduce SHIB’s supply. Lucie stressed that it will be tough to lower the token supply meaningfully without the community’s active participation.
Shibarium’s Role in Supporting the Burn Strategy
Lucie also highlighted the recent upgrade to Shibarium, Shiba Inu’s Layer-2 scaling solution. On September 13, Shibarium received significant upgrades, including the Puppynet Bor Upgrade and Cancun Hard Fork. These changes aimed to boost the platform’s performance, security, and scalability.
These improvements are expected to increase user activity within the the coin’s ecosystem. The more users engage with Shibarium, the greater the potential to burn SHIB tokens, which could help reduce the overall supply. Lucie noted that building a strong system to attract a large user base is crucial for the success of the token burn plan.
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