How high will SHIB burn through a second tier solution? Is reducing the supply by 100 trillion tokens per year possible? SHIB developer Shytoshi Kusama answers.
SHIB developer Kusama during the Q&A
Shiba Inu developer Shytoshi Kusama, known for his social media activity, held a Q&A session on Discord. In it, many of the intricacies of Shibarium’s second layer solution were explained. There was no shortage of questions, but one was of particular interest to the community.
One user, referring to the numerous appearances of influencers on the YouTube platform he had seen, asked whether the scenarios they presented were true. According to these figures, Shibarium has the potential to burn up to 100 trillion SHIB per year. Quoting the question:
“Is it possible for Shibarium to burn more than 100 trillion coins a year? I heard people on YouTube talking about it. It has been talked about, but I would like to get some confirmation?”.
Shytoshi Kusama decided to answer the question posed in this way, as follows:
“You will have to do the counting yourself. Look at the volume of other L2s. A small percentage burned and multiplied. Low on my list of priorities. Higher is actually completing it and finding multiple use cases.”
Complex solutions in the SHIB network over simple ones
It may seem that token burning is one of the simplest things the SHIB community expects. However, Kusama points to other aspects that represent a higher value to him, and in doing so he seems to favor the long-term perspective over the short-term. According to Kusama, Shibarium has the potential to find many use cases with the potential to drive the price up. Finding them is the key to success, as well as the catalyst for a sustained increase in the value of SHIB tokens.
Meanwhile, the date for the official unveiling of Shibarium is not yet known. Originally, the release was expected before the end of the third quarter. However, the event has not taken place. Nevertheless, another important aspect regarding the Shiba Inu ecosystem, is expected to appear in the coming days. We wrote about it in the article under the title: “New Shiba Eternity ‘Download Day’ date – time for the final countdown”. Be sure to take a look and stay tuned!
SHIB in consolidation before further movement
In the meantime, the SHIB token is calmly awaiting further developments. Its price action is tightening, suggesting that an impulse for increased volatility may soon follow. At the time of this writing, Shiba Inu is consolidating around $0.000011. Possible increases could result in an attack near $0.000018, while declines, risk reaching this year’s lows, located near $0.000007.