- This novel approach is anticipated to greatly enhance the volume and frequency of burns.
- In addition, the team is getting ready to move Puppynet to Sepolia.
The team behind the Shiba Inu has declared their intention to burn 9.25 trillion SHIB coins this month. Aiming to drastically decrease the circulating quantity of the famous meme coin, this endeavor signifies a major change in the cryptocurrency’s approach.
After a string of regular, although smaller sized burns, the decision to dispose of such a large quantity of SHIB was reached. Using Shibarium’s transaction fees, the team was able to reduce more than 36 billion SHIB in the months leading up to this.
But as a result of the conversion of $1 million worth of BONE tokens into SHIB—roughly 101 trillion SHIB—this impending burn is expected to transcend earlier attempts.
Novel Approach
In addition to the normal burn process, the Shiba Inu crew has been trying to figure out an automation process. This month marks the start of a new era for SHIB as this novel approach is anticipated to greatly enhance the volume and frequency of burns.
In addition, the team is getting ready to move Puppynet from Ethereum’s Goerli network to Sepolia, which means that the platform’s infrastructure is becoming even better. Many in the SHIB community are wondering what effect this massive burn will have on the price and scarcity of the memecoin, which has sparked a stir among the Shiba Inu developers.
Under Lucie’s leadership, the Shiba Inu marketing team has been involved in community outreach, showcasing ways to earn SHIB and LEASH tokens via the ShibaPunkz dApp. The community will be more actively involved in the ecosystem’s development and evolution via this new approach.
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