Shibarium Burn: Will the Burn Remove 111 Trillion SHIB Coins Annually?

2022/08/30By: L, Laura

With Shibarium documentation expected to be released next month, investors are eager to see what’s stored on the Layer 2 network. The report notes that Shibarium may integrate a built-in burn portal that will continually remove Shiba Inu coins from circulation. Shibarium may charge a nominal transaction gas fee and use that fee to “burn” SHIB and reduce the supply.

 

Furthermore, Shiba Inu’s Discord moderator Queenie earlier this year disclosed a hypothetical estimate that the burn portal could remove 111 trillion SHIB coins from circulation every year.

 

You can read Queenie’s hypothetical calculation online for more details about the burn portal. She estimates that the burn portal will be a game changer, bringing Shiba Inu price closer to $0.01.

 

Will Shibarium Burn Trillions of SHIB Coins Each Year Actually? May Not

As Queenie’s hypothetical estimations have come out, investors believe that the team is working to ‘burning’ Shiba Inu coins with Shibarium. So will Shibarium really burn 111 trillion of Shiba Inu coins every year and remove them from circulation? Um, the answer is no.

 

No one from the Shiba Inu team has confirmed that Shibarium will ‘burn’ coins, let alone ‘burn’ trillions per year. Shytoshi Kusama, the lead developer of ShibaSwap, has also not predicted that Shibarium could have had such a “burn” event.

 

The team has been tight-lipped about Shibarium’s capabilities and has kept all developments under secret. Unification, the company that’s building Shibarium layer-2 solution, has not confirmed that the network will ‘burn’ tokens either.

 

Hence, there’s no assurance that Shibarium will burn trillions of Shiba Inu coins every year through its built-in ‘burn’ portal.

 

The only indication of Shibarium is that the public beta test network will be released next month. The release will demonstrate Shibarium’s features and give you an idea of what the layer-2 blockchain is really capable of. There is no confirmation until then.

 

Sign up for BTCC now to build your own portfolio!

 

Read More:

LUNC Pumps 23% to $0.000123 – Time to Buy Terra Luna Classic Now?

Tamadoge Crypto Price Prediction 2022-2023-2025

Bitgert (BRISE) to Break Ethereum & Ripple (XRP) in 2022, Confirms Its Founder

Pi Network Mainnet: When Is Pi Coin Launching?

Pi Cryptocurrency Review: Is Pi Network a Scam?

Register now to begin your crypto journey

Download the BTCC app via App Store or Google Play

Follow us

Scan to download