Shiba Inu team member Ragnar has recently stirred speculation within the SHIB community, suggesting the possibility of an impending breakout for the cryptocurrency. Ragnar’s reference to a potential breakout was made in a now-deleted post on an unspecified platform, where he hinted at a correlation between this anticipated surge and a groundbreaking burn event within the Shiba Inu ecosystem. This burn, slated to occur this month, involves an unprecedented 9.25 trillion SHIB tokens.
The reasons behind the post’s deletion remain unclear, prompting some members of the SHIB community to speculate that it was an intentional move to temper excessively high expectations. It’s worth noting that the largest monthly token burn for SHIB has historically been in the billions.
The only instance of a trillion SHIB tokens being burned in a single year, let alone a month, was orchestrated by Ethereum founder Vitalik Buterin. Questions arise regarding whether Ragnar’s tweet contained a typographical error or if he overlooked certain details in his announcement, especially given the magnitude of the stated burn.
Shiba Inu’s Remarkable 9.25 Trillion SHIB Burn Triggers Talk
Shibarium, Shiba Inu’s layer 2 network, is expected to play a significant role in the upcoming burn phase, contributing nearly 34 billion SHIB tokens to last year’s cumulative burn of over 76 billion. However, the likelihood of a burn reaching the trillions seems improbable. In the current month, January, a total of 64 million SHIB tokens have been burned, suggesting that Ragnar’s tweet, alluding to rumors of an extensive Shiba Inu burn, may have been embellished for dramatic effect.
While a Shiba Inu burn phase could potentially trigger a bullish breakout for the cryptocurrency, it appears improbable that the burn would reach the scale of trillions. A more realistic projection places the burn in the hundreds of billions for the month of January. As the SHIB community eagerly awaits developments, the potential impact of the burn on Shiba Inu’s market dynamics remains a topic of speculation and discussion within the cryptocurrency ecosystem.