As much as 70% of the base fee will be allocated to removing Shiba Inu tokens from circulation, while the remaining 30% will be used for network maintenance.
Once the network collects a total of $25,000 in fees from users, the first burn process will begin. However, the number of tokens that will be sent to the dead wallet is still unknown.
The Shiba Inu team is expected to provide more details on this in January. This move will hopefully help SHIB increase its price sustainably over the next few years. The main target for investors is to reach the price milestone of $0.01. Although it is still unclear whether burning tokens can help achieve this target, this move certainly raises high hopes among investors.
Token burning is expected to reduce the number of SHIB tokens in circulation, which in turn could increase the value of the token. This is a strategy often used in the crypto world to create scarcity and increase demand.
However, the long-term effectiveness of this strategy is still a topic of debate among experts and investors.
Disclaimer
This content aims to enrich reader information. Always do your own research and use cold hard cash before investing. All buying and selling and investing activities in crypto assets are the responsibility of the reader.
