After the ecosystem was upgraded, the Shiba Inu executive revealed the SHIB burn strategy.
An official from Shiba Inu has revealed their strategy to cut down on SHIB supplies.
The announcement followed a user's complaint over the token's excessive availability.
On September 13, Shiba Inu also had an ecological update.
Concerned by SHIB's large supply, Lucie, who leads marketing for Shiba Inus, has addressed the matter and revealed intentions to lower it shortly.
The "major disadvantage" affecting the meme coin's community, the user on X who pleaded with the Shiba Inu team to "do something" about the token's excessive supply, was the target of Lucie's remark. There are now 589.27 trillion SHIB coins in circulation, according to statistics from CoinMarketCap.
A Burn Strategy for SHIBs
Since no one has access to the keys that Ryoshi burnt, Lucie informed the user in the X post that the Shiba Inu developers are unable to alter the supply of the token. According to the marketing lead, SHIB tokens might be burnt by users, reducing the supply.
Let me tell you something exciting: in order to significantly decrease the supply, we need millions—if not billions—of consumers! Our daily goal is to use SHIBARIUM to construct an amazing system that attracts lots of people. The more people who utilize our service, the more SHIB may be burnt, increasing its value. It was a post.
Lucie warned that "everyone gets on board" for this plan to succeed, noting that it needed funding.
Lucie made her statement after a major update to Shibarium, the Layer-2 scaling solution for the Shiba Inu ecosystem, which improved its speed, security, and scalability on September 13.
Improvements in transaction efficiency, disk management, cross-chain operations, reliability in node operations, compatibility with Ethereum upgrades, and more were among the features brought forth by the Puppynet Bor Upgrade and Cancun Hard Fork, according to the platform's website.
