|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shiba Inu’s massive supply has always been the subject of intense debate, with some arguing that the developers should slash the supply if the meme coin is ever going to compete with the other cryptos.
Shiba Inu’s vast supply has been a topic of discussion among community members, with some suggesting that reducing the supply would benefit SHIB holders. However, SHIB's marketing lead has stated that it is unlikely that the development team will intervene to alter the supply.
In response to a community member's suggestion that the SHIB team should reduce the supply to benefit holders, the marketing lead, known as Lucie on social media, stated that the supply is not something that the team can change.
"Ryoshi burned the keys, meaning no one has control over it," Lucie explained.
According to Lucie, the only way to reduce the SHIB supply is through burning tokens, which requires financial resources.
"SHIB needs to be bought and burned, and that takes money," she said.
Highlighting the role of SHIB burns in increasing the token's value, Lucie further explained, "The exciting part: to really reduce the supply in a big way, we need millions (even billions) of users! The plan is to build an epic system that brings in tons of people, using SHIBARIUM every day. The more users we have, the more SHIB can be burned, making it more valuable over time."
Shiba Inu burns a portion of the transaction fees, and if the token were to be widely used by hundreds of millions of people, a substantial amount of SHIB would be burned. However, given the massive supply of 589 trillion tokens, the process would likely take a significant amount of time.
"This only works if everyone gets onboard. It’s all about growing the community and letting the system do its magic!" Lucie concluded.
At the time of writing, SHIB was trading at $0.00001326, having experienced a slight decrease over the past 24 hours, while the broader cryptocurrency market displayed minimal price movements.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- LEGO Horizon Adventures and LEGO Star Wars: The Skywalker Saga Might Be Two Sides of the Same Coin
- Sep 27, 2024 at 08:55 am
- At first glance, LEGO Horizon Adventures and LEGO Star Wars: The Skywalker Saga both seem like similar LEGO projects.
-
- Reservoir: The Essential Toolkit for NFT Developers
- Sep 27, 2024 at 08:55 am
- Reservoir is a versatile platform tailored for developers building NFT applications and marketplaces. It offers an array of tools to facilitate seamless NFT trading
-
- Bitcoin (BTC) Outshines Every Main Asset Class This Year, Predicts $2.9M BTC Price by 2050: VanEck Report
- Sep 27, 2024 at 08:50 am
- Bitcoin is up by 141% within the last 12 months: Source: Brave New Coin Bitcoin Liquid Index As of September 26th 2024, Bitcoin has seen its worth surge by 141% over the
-
- The Best Things to Invest in Right Now: Alternative Ways to Invest in Bitcoin
- Sep 27, 2024 at 08:50 am
- If you're looking for the best things to invest in right now, sorry, but the Bitcoin train has long left the station.
-
- 4 Unmissable Cryptocurrencies That Are Dominating Headlines
- Sep 27, 2024 at 08:35 am
- If you’re poised to make your mark in the crypto market, this is the moment to explore some of the most electrifying coins currently stirring up the scene.
-
- WBTC Supply on Aave Hits All-Time High Despite Backing Anxieties
- Sep 27, 2024 at 08:35 am
- Wrapped Bitcoin (WBTC) supplied on decentralized lending platform Aave hit an all-time high despite anxieties around the Bitcoin (BTC) wrapper's backing
-
- Phantom Wallet Is Now on Dydx, Enhancing User Access
- Sep 27, 2024 at 08:35 am
- Dydx has announced its integration of the Phantom Wallet, a leading Solana-based non-custodial wallet, into its decentralized finance (defi) platform.
-
- As Ethereum Approaches the $10,000 Mark, Shiba Inu (SHIB) and ETFSwap (ETFS) Emerge as Promising Investment Opportunities
- Sep 27, 2024 at 08:35 am
- As Ethereum approaches the $10,000 mark, investors are eager to explore promising opportunities in the crypto market. Shiba Inu (SHIB) and ETFSwap (ETFS), are the front-runners owing to their potential for growth and investment appeal in this dynamic landscape.
-
- STX Price Rallies 30% as the Nakamoto Upgrade Approaches
- Sep 27, 2024 at 08:35 am
- STX, the native token of the Bitcoin-focused Stacks layer-2 smart contract platform, is riding on Bitcoin's recovery, up approximately 30% over the last seven days.