Rocket Fuel for Shiba Inu Price: Kusama Says 99% Supply Burn Possible

Shiba Inu head developer Shytoshi Kusama addressed questions about burning 99% of the SHIB token supply. Kusama first asked the community, “What a topic or question you want to hear answered on my podcast? #shyspeaks.”

This engagement call prompted token burn strategy talks. LSP Finance Chief Financial Officer Fang Zhang asked, “The timeline and roadmap of burning 99% Shib Token in circulation, pls.”

Kusama answered Zhang's question by explaining the difficulties of destroying 99% of SHIB tokens. He said, “Burning 99% of Shib seemed impossible just a few years ago, but with many projects banding together to achieve this monumental task it can actually be achieved.”

Kusama explained that various projects, especially large ones, must use the Shib tech stack to facilitate the burn.

Kusama identified seven major burn target impediments. He stated that if the burning process accelerates, investors may anticipate a boom, raising SHIB prices and halting the process. “People will buy if things spiral to a huge burn because the price will skyrocket. Kusama said burning Shib would be more expensive and slower.

Kusama added that token burns are not SHIB's only success factor. “Finally, burns are not the only way Shib wins,” he said, emphasizing memecoin utility. Estimating takes any length of time, which is too long for fudders. We discover new ways to offer memecoins utility and assure viral dissemination so people don't burn them anymore.”

Staking and creating new use cases for BONE, LEASH, and Treat tokens were crucial to SHIB's utility.

Burning 99% of SHIB's supplies would cause severe shortages.

around press time, SHIB is trying to break the 0.5 Fibonacci retracement barrier around $0.00002823. This technical level is based on the March 5 high of $0.00004567 and the August 5 local low of $0.00001067. A breakout over the 0.5 Fib level could lead to the 0.618 Fib goal at $0.00003235 in the short term.

#SHIB #Memecoins $SHIB