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Shiba Inu’s Lead Developer Contemplates 99.9% Token Supply Burn
It would take a well-planned and massive withdrawal of tokens from circulation.
In theory, SHIB tokens might become more valuable due to their increased scarcity.
Shytoshi Kusama, the chief developer of the Shiba Inu (SHIB) cryptocurrency project, recently issued a remark that has the whole community buzzing. Kusama has brought up the prospect of limiting the amount of Shiba Inu in circulation to as little as 0.1 percent of its present volume. Many people, including investors and fans of the cryptocurrency, are talking and speculating about this statement.
The current circulating quantity of SHIB is 580 trillion, and if this idea were to be implemented, it would cause a significant change. Kusama made the comment in reaction to a sardonic offer by an opponent to destroy 99.9% of SHIB tokens, maybe with the money from Shibarium service fees.
Tough Task
A large portion of the Shiba Inu community has responded favorably to Kusama’s audacious claim. Many SHIB enthusiasts are eagerly awaiting the possible burning of enormous quantities of tokens. Many members of the community share this optimistic outlook and would love to see the value of SHIB rise after drastic supply cuts.
Though difficult, Kusama certainly countered that it is not impossible to accomplish such a feat. But getting to that level of dramatic decrease isn’t easy. It would take a well-planned and massive withdrawal of tokens from circulation to burn up 99.9 percent of SHIB’s supply. Token burns have been executed by the SHIB development team before, although on a lesser scale.
In theory, SHIB tokens might become more valuable due to their increased scarcity as a result of a lower supply. According to CoinMarketCap, at the time of writing, SHIB is trading at $0.00001103, up 1.17% in the last 24 hours.
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In theory, SHIB tokens might become more valuable due to their increased scarcity.
Shytoshi Kusama, the chief developer of the Shiba Inu (SHIB) cryptocurrency project, recently issued a remark that has the whole community buzzing. Kusama has brought up the prospect of limiting the amount of Shiba Inu in circulation to as little as 0.1 percent of its present volume. Many people, including investors and fans of the cryptocurrency, are talking and speculating about this statement.
The current circulating quantity of SHIB is 580 trillion, and if this idea were to be implemented, it would cause a significant change. Kusama made the comment in reaction to a sardonic offer by an opponent to destroy 99.9% of SHIB tokens, maybe with the money from Shibarium service fees.
Tough Task
A large portion of the Shiba Inu community has responded favorably to Kusama’s audacious claim. Many SHIB enthusiasts are eagerly awaiting the possible burning of enormous quantities of tokens. Many members of the community share this optimistic outlook and would love to see the value of SHIB rise after drastic supply cuts.
Though difficult, Kusama certainly countered that it is not impossible to accomplish such a feat. But getting to that level of dramatic decrease isn’t easy. It would take a well-planned and massive withdrawal of tokens from circulation to burn up 99.9 percent of SHIB’s supply. Token burns have been executed by the SHIB development team before, although on a lesser scale.
In theory, SHIB tokens might become more valuable due to their increased scarcity as a result of a lower supply. According to CoinMarketCap, at the time of writing, SHIB is trading at $0.00001103, up 1.17% in the last 24 hours.
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