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Shiba Inu exec Lucie is pushing for an accelerated token burn strategy driven by Shibarium’s recent upgrade. The blockchain’s enhanced performance is expected to boost SHIB’s value, with burn rates set to increase alongside community growth.
Shiba Inu Exec Drives New Token Burn Initiative
A frustrated X user recently voiced their displeasure with the abundant supply of popular meme coin. Developers are unable to change the SHIB supply, as Lucie swiftly clarified. "The devs can’t change the SHIB supply because Ryoshi burned the keys, meaning no one has control over it," she continued.
To further diminish its supply, Lucie emphasized the significance of purchasing and incinerating SHIB. "To reduce the supply, SHIB needs to be bought and burned, and that takes money," she said. But she did point out that millions—if not billions—of users are needed for a huge reduction.
“The plan is to build an epic system that brings in tons of people, using SHIBARIUM every day. The more users we have, the more SHIB can be burned, making it more valuable over time,” Lucie explained.
Shibarium September Upgrade Boosts Performance
This announcement follows a significant improvement to Shibarium, the layer-2 blockchain of Shiba Inus. There were major enhancements with the version that went live on September 13th. Improvements in speed, security, and scalability were the goals of the Cancun hard fork and the Bor upgrade (v1.3.7).
The most recent technology from Ethereum has been integrated, leading to improved performance, lower gas prices, and streamlined cross-chain operations. These are some of the key changes. Storage management and security were both improved in the release. The stability of cross-chain transfers has improved, and transaction speeds have been increased.
Community Growth to Drive Higher SHIB Burns and Value
The platform is now better prepared for growth as Shibarium gets more efficient, as reported by Coingape. More users could be attracted, leading to higher burn rates and a higher value for SHIB.
If all SHIB tokens in circulation are burned, the value of the remaining tokens can rise. In this process, Lucie stressed the importance of the community. And she wrote, “But this only works if everyone gets onboard. It’s all about growing the community and letting the system do its magic!”
SHIB Price Holds Support Despite Recent Drop
Even though the Shiba Inu price has dropped 2% recently, it is still holding above the $0.000013 support level. Meme crypto could soon overcome the $0.000015 resistance level, according to analysts, if the bullish trend resumes.
