In a recent development that’s captured the attention of the Shiba Inu (SHIB) community, Lucie, the marketing lead for SHIB, has shared an insightful strategy to address concerns about the meme coin’s large token supply. Her comments have ignited optimism among enthusiasts, who anticipate a potential surge in SHIB’s price due to renewed burn efforts and the latest upgrades to Shiba Inu’s ecosystem.
Lucie’s Burn Plan Unveiled
Addressing a user’s frustration on X about SHIB’s substantial supply, Lucie clarified that developers have no control over the token’s total supply. “The devs can’t change the SHIB supply because Ryoshi burned the keys, meaning no one has control over it,” she explained. This response was crucial for dispelling fears and emphasizing the need for community action in reducing the supply.
Lucie elaborated on the strategy to manage SHIB’s supply: “To reduce the supply, SHIB needs to be bought and burned, and that takes money.” She highlighted that achieving a significant reduction requires millions or even billions of users. Her plan involves leveraging Shibarium, Shiba Inu’s layer-2 blockchain, to build a robust system that encourages widespread usage. “The more users we have, the more SHIB can be burned, making it more valuable over time,” Lucie added.
Shibarium’s Major Upgrade
The timing of Lucie’s announcement is particularly relevant given the recent enhancements to Shibarium. On September 13th, Shibarium underwent a major upgrade with the Bor update (v1.3.7) and the Cancun hard fork. These improvements aim to boost performance, security, and scalability. Notably, the integration of Ethereum’s latest technology promises smoother operations, reduced gas fees, and more stable cross-chain transfers.
These upgrades are expected to attract more users to the platform, which in turn could drive up SHIB burn rates and increase the token’s value. As Shibarium becomes more efficient, the potential for SHIB’s price to rise becomes more promising.
What Lies Ahead for SHIB’s Price?
The process of burning SHIB tokens is pivotal in reducing the overall supply and enhancing the value of the remaining tokens. Recent data supports this strategy, showing a significant increase in burn rates. According to Shibburn, 14.17 million SHIB tokens were burned in the last 24 hours, marking a 38.79% rise. This uptick has fueled investor confidence and sparked renewed interest in the meme coin.
Also Read: Shiba Inu (SHIB) Faces 31.7% Decline – Is A Recovery On The Horizon?
Currently, SHIB is trading above the $0.000013 support level, despite a recent 2% dip. Analysts are optimistic that if the bullish trend continues, SHIB could break the $0.000015 resistance level soon. Coingape’s price analysis suggests that, with strong bullish momentum, SHIB could even reach $0.0003 by the end of September.
As the Shiba Inu community rallies around Lucie’s burn plan and Shibarium’s enhancements, all eyes will be on SHIB’s price trajectory in the coming weeks. The strategic burn plan, combined with Shibarium’s technological advancements, could indeed set the stage for a notable price increase.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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