Burning tokens is not enough to move SHIB price, according to lead Shiba Inu developer

Shiba Inu

Despite the huge number of SHIB burnings, the token price is not moving. The community seems to be frustrated by this fact and continues to ask why nothing is changing. Shytoshi Kusama comes forward and decides to explain the situation.

Innovation key to Shiba Inu values

Shytoshi Kusama, leader of the Shiba Inu project, emphasizes the role of innovative technologies and utility integration in the development of the SHIB price. Despite the token’s many burnings, he notes that the activities of the dog coin community have not reached an adequate volume of activity to support the price of the asset.

With this, Kusama addresses the concerns of one member of the Shibarium community on Telegram, who expressed his concerns about the “steady” price of Shiba Inu, despite the noticeable increase in the burn rate. In response, Kusama states that the price of SHIB is neither “fixed” nor stagnant, as the modest recent gains registered are still noteworthy.

Kusama also notes that swing traders are taking advantage of these modest price movements to increase their positions. In this regard, the developer is encouraging the Shiba Inu community to continue to develop and innovate to attract more investors and improve the volume of burnouts, which in turn has the right to boost the SHIB price in the long term.

SHIB’s firing volume is not even close to target

According to Kusama, in order to increase the value of SHIB, it is necessary to pay attention to two key factors: usability and new technologies. High SHIB usability contributes to increased demand and adoption, which in turn leads to increased asset value. Therefore, it is worthwhile to develop the Shiba Inu ecosystem and pay attention to the practical applications of SHIB in real use cases.

Kusama also noted that new technologies, such as Shibarium, can help increase demand for SHIB. Introducing tools and developing an ecosystem is key to the future growth of the dog coin.

“You can see why our past moves are key, and our future moves reinforce our dominance. We are not even close to touching the number of burnouts needed to move SHIB based on burnouts alone. That’s why we need to bring in technologies and tools and develop the ecosystem and adoption.” – Kusama concluded.

Need for more

In his latest statements, Kusama points to the need to reduce the Shiba Inu community’s reliance on token burnings. He notes that burnings are still an important factor, but calls for a focus on other important aspects. Introducing new technologies and tools, as well as increasing adoption, can help increase the value of Shiba Inu and attract more demand. In his words:

“We need to look at Shiba Inu as a whole and focus on long-term growth instead of short-term gains from burnouts.”

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

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