In a recent update that has set the Shiba Inu (SHIB) community abuzz, Lucie, the marketing lead for SHIB, addressed concerns about the token’s supply and revealed an ambitious strategy aimed at boosting its value. Her comments have reignited optimism among enthusiasts, who are now eagerly anticipating a potential surge in SHIB’s price.
Lucie Addresses SHIB Supply Concerns
A recent post on X (formerly Twitter) had sparked a wave of frustration from users regarding SHIB’s large token supply. Lucie promptly addressed these concerns, clarifying that the Shiba Inu development team cannot alter the token’s supply due to the fact that Ryoshi, SHIB’s pseudonymous creator, burned the keys, thereby relinquishing control over the tokenomics.
“The devs can’t change the SHIB supply because Ryoshi burned the keys,” Lucie stated, “meaning no one has control over it.” This means that the token supply is fixed, but that doesn’t mean there aren’t strategies to manage its impact.
Lucie emphasized the role of buying and burning SHIB tokens as a method to gradually reduce the supply. “To reduce the supply, SHIB needs to be bought and burned, and that takes money,” she explained. The key to this strategy lies in attracting a massive user base to facilitate this process, which involves both engagement and financial investment.
Shibarium Upgrade – A Game-Changer for SHIB
Lucie’s statement comes on the heels of a significant upgrade to Shibarium, Shiba Inu’s layer-2 blockchain. The September 13th update introduced the Bor upgrade (v1.3.7) and the Cancun hard fork, marking substantial improvements in performance, security, and scalability.
These upgrades incorporate the latest Ethereum technology, which enhances performance and reduces gas fees. They also improve storage management and security, making transactions faster and cross-chain operations more stable. As Shibarium becomes more efficient, it is better positioned to attract new users, potentially accelerating SHIB burn rates and driving up its value.
Future Outlook for SHIB
Burning tokens remains a pivotal strategy for managing SHIB’s supply. By reducing the number of tokens in circulation, the value of the remaining tokens is expected to increase. Lucie has underscored the importance of community involvement in this process. “It’s all about growing the community and letting the system do its magic!” she wrote.
Recent data from Shibburn, a SHIB burn tracker, indicates a notable increase in burn rates. In the last 24 hours alone, 14.17 million tokens were burned, reflecting a 38.79% rise and boosting investor confidence.
Also Read: Shiba Inu Burns 56B Tokens With Shibarium—Automated ShibTorch Hits 3.26M SHIB
Currently, SHIB’s price is stabilizing above the $0.000013 support level despite a recent 2% dip. Analysts are optimistic, with predictions suggesting that if the bullish trend continues, SHIB could break the $0.000015 resistance level soon. A recent analysis by Coingape even speculates that SHIB might reach $0.0003 by the end of September if positive momentum persists.
As Shiba Inu continues to evolve, both the community and market watchers are keenly observing how these developments will shape SHIB’s future price trajectory. With a strategic burn plan and technological upgrades in place, SHIB enthusiasts have reason to stay hopeful.
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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