Shibarium News: Can Shibarium Burn 111 Trillion SHIB Annually?
Among Shiba Inu owners, confidence in the SHIB burn process is high. They anticipate that the value of the asset will ‘burn’ up to symbolic price points of $0.001 and $0.01. Every day, members of the community continue to destroy Shiba Inu tokens. Shibarium is likewise planning to deplete the current supply of tokens. Could the burning of trillions of tokens after the launch of the L2 network send the price of SHIB soaring?
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Shibarium’s True Effects Won’t Be Seen for Another 8-12 Months
‘Queenie’ drew out a hypothetical scenario in 2022 predicting the possible number of fires. She estimated that if all went according to plan, some 111 trillion SHIB tokens would be destroyed annually. That’s equivalent to almost 20% of the whole population of Shiba Inus. On Twitter, she predicted that the Shibarium and ShibaSwap 2.0 teams could burn trillions of SHIB tokens annually, even with a 1% transaction charge for SHIB burning.
We know that shytoshi and other dev team don’t have any Shibainu to burn 🔥however, they can provide roughly how much coin they able to burn through Burn portal, Metaverse, Shiburium, and all other burn mechanism. 589 Trillions is huge… we need time frame please
— Addicted to shiba inu (@ShohagKhaled143) March 31, 2022
Shibburn reports that around 25,100,470 SHIB tokens have been burned in the last 24 hours. Within a day, though, that represents a drop of 74.94%.
Several members of the community have speculated that Shibarium might consume 5 trillion tokens per month, or 60 trillion tokens annually. There has been no formal word from the team, though. Lucie, a member of the Shiba Inu team, recently observed that a number of prominent figures have been making “big promises” concerning SHIB burns. She began by outlining the basics, claiming that SHIB would be burned each and every time Shibarium was used. To elaborate,
Since SHIB is the fuel of choice, [Shibarium] has cheap gas prices on purpose. This will allow millions of users to help burn SHIB tokens. That means it’s not just a handful of wealthy individuals wasting money.
She went on to elaborate on why patience is essential, saying,
The amount wasted will be revealed in the next update. There’s absolutely no need to haste. All of this is part of a larger strategy. In 8-12 months, Shibarium’s true effects will become apparent.
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