Shiba Inu Exec Reveals SHIB Burn Strategy Following Ecosystem Upgrade
- Shiba Inu’s executive has shared a plan to reduce SHIB supply.
- The revelation came after one user expressed frustration about the token’s massive supply.
- It also followed Shiba Inu’s ecosystem upgrade on September 13.
Shiba Inu ’s marketing lead, Lucie, has addressed concerns about SHIB’s massive supply and revealed plans to reduce it soon.
Lucie’s comment was addressed to a user on X who urged Shiba Inu’s team to “do something” about the token’s large supply, noting that it was the “major disadvantage” plaguing the meme coin’s community. Per CoinMarketCap data, SHIB has a circulating supply of 589.27 trillion coins.
The SHIB Burn Strategy
In the X post, Lucie told the user that Shiba Inu developers could not change the token’s supply from their end because no one has control over its keys, which Ryoshi burned. The marketing lead explained that SHIB’s supply could be reduced if users bought and burned the tokens.
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Noting that it required money, Lucie cautioned that this strategy could only work if “everyone gets on board.”
Lucie’s comment came after Shibarium, the Layer-2 scaling solution for the Shiba Inu ecosystem, underwent a significant upgrade on September 13 to bolster its performance, security, and scalability.
Per the platform’s website , the Puppynet Bor Upgrade and Cancun Hard Fork introduced several enhancements, such as improved transaction efficiency, better disk management, enhanced cross-chain operations, compatibility with Ethereum updates, and stability in node operations.
Read how 9 billion SHIB was stolen from a major CEX:
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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