The cryptocurrency market is trying to combat the harsh winter conditions. Some projects are disappearing, while others are entering the market. Projects struggling in this environment also strive to improve themselves. The popular meme coin Shiba Inu (SHIB) is one of them. The Shiba Inu lead developer shared important developments about the SHIB burning mechanism.
Shytoshi Kusama: The upcoming details will show that SHIB is awesome!
Shytoshi Kusama, the lead developer and possibly Shiba Inu’s main representative in the media space, announced in a series of tweets today that important events are coming in the life of all ecosystem projects. Specifically, the developer once again talked about the game Shiba Eternity. In the same context, he made a statement about the burning mechanism. According to experts, this probably means SHIB burning through in-game mechanics.
In his address to the community, the representative of the Shiba Inu promised, among other things, that he would soon reveal information about the Shibarium. Therefore, updates in the Layer 2 solution, which will be long-awaited and will allow application to all tokens of the ecosystem, should be waited when the Blockchain version is released. Shytoshi Kusama shared the following on the subject:
SHIBARMY… there will be acts of burning during the game period. Upcoming details will show why ShibaEternity is strong, tough, great for SHIB, Shiboshi holders and Shibarium once the Blockchain version is released. The question is, where will you be on download day?
#SHIBARMY… there will be burns from the game period. Upcoming details will explain why #ShibaEternity is powerful, challenging, great for Shib, Shiboshi holders, and Shibarium once the blockchain version is released. The real question is where will you be on #downloadday ? pic.twitter.com/duUBent2oH
— Shytoshi Kusama™ (@ShytoshiKusama) September 17, 2022
It is not entirely clear whether the SHIB burning mechanism will be implemented in Shiba Eternity. Because the developer was very menacing at his address. According to experts, he probably hinted that those who question the success of the project will burn. In any case, updates will come soon. From what we’ve seen, the Shiba Inu representative wants to say “give us time and see for yourself”.
Shiba Inu (SHIB) burning actions
cryptocoin.com As you follow, SHIB incineration is one of the most important agendas of the community. Moreover, cremation is one of the most pressing issues on the Shiba Inu community’s agenda. Over 40% of the total supply of 1 quadrillion SHIBs to date has gone to dead wallets. Thus, this amount of tokens was removed from circulation. Despite this, the process is progressing more slowly than investors expected.
According to the Crypt Eye portal, about 11 billion SHIB have been transferred to the burn wallet in the last three months. This means that the equivalent of $128,000 SHIB is no longer in circulation. However, the average weekly burn rate at current capacity is just under 1 billion SHIB.
