Lucie , in charge of marketing for the Shiba Inu ecosystem, addressed concerns about the large supply of the Token, which one user called a “big downside” for the SHIB community . She revealed plans to reduce this supply soon, creating optimism in the community that could boost the value of the SHIB Coin.
“The Legendary Shiba Inu Burning Strategy”
In a recent post on X, Lucie explained that Shiba Inu developers cannot change the Token supply because Ryoshi , the project's anonymous founder, burned the keys, leaving no one in control. She emphasized that the only way to reduce the supply is for users to actively buy and burn Shiba Inu Token .
This is not surprising, as the meme Coin's history has consistently relied on the community's goodwill efforts to burn excess SHIB Token in circulation. Their actions are essential to the value of the remaining SHIB today.
Lucie then revealed Shiba Inu ’s ambitious plan to solve the problem. According to Lucie, the plan is to build a massive system that attracts a large user base and uses SHIBARIUM on a daily basis, which she said would require millions (or even billions) of users. “The more users we have, the more SHIB can be burned, increasing its value over time,” she said.
As more people use Shibarium, a Layer-2 blockchain network on Ethereum, it will attract a growing number of daily users and create more opportunities to burn SHIB, which can boost the value of the Token over time. In line with this goal, an automatic burning mechanism was introduced last month to increase the burn rate of Shiba Inu.
The Shiba Inu burn gateway , ShibTorch, recently deployed on Shibarium, is explicitly designed to burn only the base fees paid by users. These base fees are sent directly to the burn contract, while the 2nd priority fees are distributed to validators.
SHIB burn rate reduced
The new SHIB burn strategy requires a large financial commitment and widespread participation to be successful. Lucie, the head of marketing, emphasized that the key to success is community development, saying, “It’s all about growing the community and letting the system do its magic!”
Recent data from SHIB burn shows a significant 95.33% decrease in burn rate over the past 24 hours. During this period, 648,525 SHIB Token were removed from circulation. This highlights the community’s minimal efforts to reduce the total supply of SHIB and produce tangible results.
Despite the community’s proactive burning of SHIB Token , the cryptocurrency has yet to see its expected increase in value. At the time of writing, SHIB is trading at $0.00001378, down 0.65% over the past 24 hours. However, some market Watcher believe that as SHIB adoption expands, its price could follow suit.
