{"id":654788,"date":"2024-11-25T18:30:24","date_gmt":"2024-11-25T18:30:24","guid":{"rendered":"https:\/\/ktsl888.com\/?p=654788"},"modified":"2024-11-25T11:19:56","modified_gmt":"2024-11-25T11:19:56","slug":"shiba-inu-price-kusama-99-shib-supply-burn-possible","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/shiba-inu\/shiba-inu-price-kusama-99-shib-supply-burn-possible\/","title":{"rendered":"Rocket Fuel For Shiba Inu Price: Kusama Says 99% SHIB Supply Burn Possible"},"content":{"rendered":"

Shiba Inu lead developer Shytoshi Kusama has addressed inquiries regarding the ambitious goal to burn 99% of the circulating SHIB token supply. Kusama initially engaged with the community by inviting questions for his podcast, stating, \u201cWhat a topic or question you want to hear answered on my podcast? #shyspeaks.\u201d<\/p>\n

Burning 99% Of Shiba Inu Tokens ‘Can Be Achieved’<\/h2>\n

This call to engagement set the stage for subsequent discussions about the potential token burn strategy. Fang Zhang, Chief Financial Officer at LSP Finance, directly queried the feasibility and strategic planning behind such an extensive burn: \u201cThe timeline and roadmap of burning 99% Shib Token in circulation, pls.\u201d<\/p>\n

Responding to Zhang\u2019s inquiry, Kusama provided<\/a> an explanation of the challenges and considerations involved in burning 99% of SHIB tokens. He acknowledged the historical improbability of such an endeavor, noting, \u201cBurning 99% of Shib seemed impossible just a few years ago, but with many projects banding together to achieve this monumental task it can actually be achieved.\u201d<\/p>\n

Related Reading: Shiba Inu \u2018To The Moon\u2019: Lead Kusama Unveils Key Catalysts<\/a><\/div>\n

Kusama elaborated on the necessary conditions for this outcome, emphasizing the adoption of the Shib tech stack by multiple projects, particularly large-scale ones<\/a>, to facilitate the burn. \u201cMore and more projects or a few mega large ones have to adopt the Shib tech stack,\u201d the SHIB lead dev stated.<\/p>\n

Kusama highlighted several significant obstacles to achieving the burn target. He explained that if the burning process begins to accelerate, it could drive up the price of SHIB as investors anticipate a surge, making the burn more expensive and thereby slowing the process. \u201cAssuming things started spiraling to a huge burn<\/a>, people will buy considering that the price will moon. In this case, it would be more expensive to burn Shib, slowing down burning,\u201d Kusama stated.<\/p>\n

Related Reading: Shiba Inu Could See A 53% Surge If This Resistance Breaks, Analyst Explains<\/a><\/div>\n

Additionally, he emphasized that the strategic intent behind the burn is as crucial as the actual burning process itself,<\/a> saying, \u201cIt’s not the burning that matters, it\u2019s [the] intention.\u201d<\/p>\n

Moreover, Kusama pointed out that token burns are not the sole pathway to SHIB\u2019s success. He articulated that the development of utility for the memecoin is equally important, noting, \u201cFinally, burns are not the only way Shib wins. If I say oh I approximate, that would take ANY LENGTH OF TIME, it’s not short enough for fudders. So we find other ways to give a memecoin utility and ensure we get to a point through viral distribution that people don’t want to burn the token anymore.\u201d<\/p>\n

He stressed the importance of enhancing SHIB\u2019s utility through mechanisms like staking and developing new use cases for associated tokens such as BONE, LEASH, and Treat.<\/p>\n

The proposed burn of 99% of SHIB\u2019s total supply would create extreme scarcity. Should demand remain stable or increase, the reduced supply could lead to a significant rise in the value of each remaining SHIB token. This shift has the potential to elevate SHIB from its current status as a low-cost meme token to a more valuable asset.<\/p>\n

However, Kusama clarified that such a burn would be a gradual process, driven by the adoption and integration of SHIB\u2019s technology across various projects probably over several years, rather than an immediate reduction.<\/p>\n

As of press time, SHIB is attempting to breach the 0.5 Fibonacci retracement level at $0.00002823. This technical level is derived from the March 5 high of $0.00004567 and the local low of $0.00001067 observed on August 5. In the short-term, a successful breakout above the 0.5 Fib level could pave the way toward the 0.618 Fib target at $0.00003235.<\/p>\n

\"Shiba
Shiba Inu needs to break the 0.5 Fib, 1-day chart | Source: SHIBUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image created with DALL.E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Shiba Inu lead developer Shytoshi Kusama has addressed inquiries regarding the ambitious goal to burn 99% of the circulating SHIB token supply. Kusama initially engaged with the community by inviting questions for his podcast, stating, \u201cWhat a topic or question you want to hear answered on my podcast? #shyspeaks.\u201d Burning 99% Of Shiba Inu Tokens ‘Can Be Achieved’ This call to engagement set the stage for subsequent discussions about the potential token burn strategy. Fang Zhang, Chief Financial Officer at LSP Finance, directly queried the feasibility and strategic planning behind such an extensive burn: \u201cThe timeline and roadmap of burning 99% Shib Token in circulation, pls.\u201d Responding to Zhang\u2019s inquiry, Kusama provided an explanation of the challenges and considerations involved in burning 99% of SHIB tokens. He acknowledged the historical improbability of such an endeavor, noting, \u201cBurning 99% of Shib seemed impossible just a few years ago, but with many projects banding together to achieve this monumental task it can actually be achieved.\u201d Related Reading: Shiba Inu \u2018To The Moon\u2019: Lead Kusama Unveils Key Catalysts Kusama elaborated on the necessary conditions for this outcome, emphasizing the adoption of the Shib tech stack by multiple projects, particularly large-scale ones, to facilitate the burn. \u201cMore and more projects or a few mega large ones have to adopt the Shib tech stack,\u201d the SHIB lead dev stated. Kusama highlighted several significant obstacles to achieving the burn target. He explained that if the burning process begins to accelerate, it could drive up the price of SHIB as investors anticipate a surge, making the burn more expensive and thereby slowing the process. \u201cAssuming things started spiraling to a huge burn, people will buy considering that the price will moon. In this case, it would be more expensive to burn Shib, slowing down burning,\u201d Kusama stated. Related Reading: Shiba Inu Could See A 53% Surge If This Resistance Breaks, Analyst Explains Additionally, he emphasized that the strategic intent behind the burn is as crucial as the actual burning process itself, saying, \u201cIt’s not the burning that matters, it\u2019s [the] intention.\u201d Moreover, Kusama pointed out that token burns are not the sole pathway to SHIB\u2019s success. He articulated that the development of utility for the memecoin is equally important, noting, \u201cFinally, burns are not the only way Shib wins. If I say oh I approximate, that would take ANY LENGTH OF TIME, it’s not short enough for fudders. So we find other ways to give a memecoin utility and ensure we get to a point through viral distribution that people don’t want to burn the token anymore.\u201d He stressed the importance of enhancing SHIB\u2019s utility through mechanisms like staking and developing new use cases for associated tokens such as BONE, LEASH, and Treat. The proposed burn of 99% of SHIB\u2019s total supply would create extreme scarcity. Should demand remain stable or increase, the reduced supply could lead to a significant rise in the value of each remaining SHIB token. This shift has the potential to elevate SHIB from its current status as a low-cost meme token to a more valuable asset. However, Kusama clarified that such a burn would be a gradual process, driven by the adoption and integration of SHIB\u2019s technology across various projects probably over several years, rather than an immediate reduction. As of press time, SHIB is attempting to breach the 0.5 Fibonacci retracement level at $0.00002823. This technical level is derived from the March 5 high of $0.00004567 and the local low of $0.00001067 observed on August 5. In the short-term, a successful breakout above the 0.5 Fib level could pave the way toward the 0.618 Fib target at $0.00003235. Featured image created with DALL.E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":654797,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83740],"tags":[83668,86002,89178,84473,93432,83667,89157,86437,87774],"class_list":["post-654788","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu","tag-shib","tag-shib-burn","tag-shib-news","tag-shib-price","tag-shiba-burn-news","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-price","tag-shytoshi-kusama"],"acf":[],"yoast_head":"\nRocket Fuel For Shiba Inu: Kusama Says 99% Supply Burn Possible<\/title>\n<meta name=\"description\" content=\"Shiba Inu lead dev Shytoshi Kusama has addressed inquiries regarding the goal to burn 99% of the circulating SHIB token supply.\" \/>\n<meta name=\"robots\" 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