Does Shibarium have the potential to burn 100 trillion tokens a year? SHIB developer comments

Shiba Inu Record Burns 3.6B SHIB

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.

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

Share this article

More news

Bitcoin

Bitcoin soars, an aftermath of new ETF news

The price of Bitcoin has soared to new heights, reaching $35,000. This phenomenon was accompanied by the dynamic development of the Bitcoin ETF space. The iShares spot…
All articles loaded
No more articles to load

Learn

block halving

What is block halving?

In this article, we will introduce you to the concept of block halving. To do this, you first need to…
51% attack

What is a 51% attack?

In this article, we will explain what a 51% attack is in the context of cryptocurrency. A distributed network =…
smart contracts

What are smart contracts?

Smart contracts are a type of electronic contract used not only in blockchain technology, but also in everyday life, for…
what are cryptocurrency nodes

What are cryptocurrency nodes?

Most cryptocurrencies operate on the principle of distributed transaction systems, running on a P2P, or peer-to-peer, network. In practice, this…
block explorer

What are block explorers?

In this article, we discuss a free online search engine that allows you to browse the contents of a blockchain…
All articles loaded
No more articles to load

Analyses

All articles loaded
No more articles to load

Latest news

Expert predicts Ripple IPO date

Wall Street financial expert Linda Jones has shared details of Ripple’s anticipated IPO date. Her analysis indicated potential dates, but the current market context and…

Poloniex ready to fully resume its operations

Poloniex, one of the leading cryptocurrency exchanges, has declared its imminent resumption of operations after a recent hacking incident that resulted in gigantic outflows of…
All articles loaded
No more articles to load