The Possibility of Burning Most SHIB Tokens
Shytoshi Kusama, the leader of the Shiba Inu project, stated that burning 99% of SHIB’s circulating supply is feasible. However, he emphasized that other critical factors could influence the token's price.
When asked by a community member about a timeline or plan for token burns, Kusama responded that this goal is now achievable. While such massive burns once seemed impossible, the collaboration of numerous projects within the Shiba Inu ecosystem has made this milestone attainable.
Key Conditions for Token Burns
Kusama highlighted that achieving such a significant reduction in supply would only be possible if more projects or several large-scale initiatives adopted Shiba Inu’s technological stack.
Risks Associated with High Burn Rates
The leader also pointed out potential drawbacks of burning tokens. While burning can increase SHIB's price, it could also make the token too expensive for users to purchase, slowing the rate of further burns. Kusama emphasized that burning is not the only factor that determines the success of the Shiba Inu ecosystem.
Adoption as the Key to Success
According to Kusama, the more sustainable way to enhance SHIB's value and ecosystem is by promoting its adoption in real-world use cases. If SHIB has practical applications, users will have less incentive to burn their tokens.
Kusama has previously stressed the importance of expanding tools and features for SHIB. He argues that greater mainstream adoption will attract interest from centralized exchanges and further enhance the ecosystem.
New Features and Tools in the Ecosystem
In line with this vision, the Shiba Inu ecosystem has introduced features such as liquid staking and other innovations. Kusama insists that continuous innovation and new use cases are as crucial to the ecosystem’s success as token burns.
Communication with the Community
The topic of token burns arose from questions submitted by the Shiba Inu community for Kusama’s podcast. Kusama regularly uses this format to address the ecosystem's most pressing challenges and opportunities.
#shiba⚡ , #Shibarium , #ShytoshiKusama , #SHIBburn , #meme_coin
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
