Shytoshi Kusama, the lead developer of Shiba Inu, has recently provided insights into the ongoing speculations regarding the imminent burn of Shiba Inu (SHIB) and Bone ShibaSwap (BONE) tokens in the upcoming Shibarium-powered burn. In response to community queries,Shytoshi Kusama addressed and clarified the team’s position on the burn, highlighting a dedicated emphasis on the incineration of SHIB tokens.
The clarification follows a noteworthy development in the Shibarium Layer-2 scaling solution, which recently underwent a significant hard fork. This enhancement introduced a multi-token burn model, paving the way for anticipated reductions in the supply of various crypto tokens associated with the Shiba Inu ecosystem.
Shytoshi Kusama Clarifies Team’s Stance On Token Burn Post Hard Fork
Shytoshi Kusama’s response came in the wake of mounting curiosity within the community regarding the potential burn of both SHIB and BONE tokens post the hard fork.Shytoshi Kusama unequivocally stated, “No. Burn Shib. Period,” confirming the team’s intention to exclusively burn SHIB tokens.
The accumulation of BONE tokens designated for SHIB burn on Shibarium has now surpassed 1.35 million BONE, valued at over $1.2 million. The community eagerly anticipates a substantial SHIB burn, anticipating a positive impact on the overall token ecosystem by reducing circulating supply and potentially influencing token prices.
On December 4, the Shiba Inu team executed a burn of 8.24 billion SHIB tokens, valued at $75,000, as part of the Shibarium burn. Developers, including Kaal Dhairya, have indicated plans to enhance burn capacity through a new mechanism.
Forecasts suggest that the Shiba Inu burn mechanism, set to incinerate trillions of tokens, could propel the SHIB price to reach $0.01. Noteworthy gains were observed in SHIB, BONE, and LEASE tokens this week, attributed to significant burns and ongoing developments.
Over the past 24 hours, the SHIB price experienced a 2% increase, currently trading at $0.0000102. During this period, the 24-hour low and high were recorded at $0.0000099 and $0.0000104, respectively. Conversely, BONE and LEASH tokens saw declines, trading at $0.89 and $348, as the SHIB team remains focused solely on burning SHIB tokens.