{"id":550067,"date":"2023-09-05T14:00:35","date_gmt":"2023-09-05T14:00:35","guid":{"rendered":"https:\/\/ktsl888.com\/?p=550067"},"modified":"2024-06-11T07:51:38","modified_gmt":"2024-06-11T07:51:38","slug":"shibarium-update-shiba-inu","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/shiba-inu-coin\/shibarium-update-shiba-inu\/","title":{"rendered":"New Shibarium Update Sets The Stage For Shiba Inu To Reach All-Time High"},"content":{"rendered":"<p class=\"p2\">The burning of SHIB tokens has become an important part of the Shiba Inu community. Each week, <a href=\"https:\/\/ktsl888.com\/shib\/shib-burn-rate-jump-1100-amid-expectations-of-shibarium-relaunch\/\">tokens are sent to a \u2018burn\u2019 address by community members<\/a> as they try to reduce the supply of the token. This is why the introduction of a burn mechanism for the Shibarium Layer 2 network is a welcome development for the community.<\/p>\n<h2 class=\"p2\">Lead Dev Says Shiba Inu Burn Portal Is Coming<\/h2>\n<p class=\"p2\">In a tweet shared on X (formerly Twitter) on Monday, Shiba Inu lead marketer LUCIE shared a much-anticipated announcement with the community. Lucie revealed in a screenshot of an exchange with the developer that a Shiba Inu burn portal for <a href=\"https:\/\/ktsl888.com\/shiba-inu\/shiba-inu-whales-shibarium\/\">Shibarium<\/a> was being developed.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/shiba-inu\/shiba-inu-whales-shibarium\/\">Shiba Inu Whales Begin Accumulation As Shibarium Grows<\/a><\/div>\n<p class=\"p2\">This comes after a long stretch of calls for the team to introduce an automatic burn for SHIB as the Shibarium blockchain grows. However, contrary to the belief that the burn portal is exactly what is needed, the developer emphasized that \u201cBURNS WILL NOT AND ARE NOT THE END ALL BE ALL.\u201d Instead, the developer says that the focus should shift toward the adoption of the blockchain rather than being on just burns.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">So to confirm that ADOPTION is the right way\ud83c\udf1d<a href=\"https:\/\/twitter.com\/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$SHIB<\/a> Burns x Shytoshi answered <a href=\"https:\/\/t.co\/BizkLZ0V83\" rel=\"nofollow\">pic.twitter.com\/BizkLZ0V83<\/a><\/p>\n<p>\u2014 \ud835\udc0b\ud835\udc14\ud835\udc02\ud835\udc08\ud835\udc04 | Summer of Shibarium (@LucieSHIB) <a href=\"https:\/\/twitter.com\/LucieSHIB\/status\/22774923?ref_src=twsrc%5Etfw\" rel=\"nofollow\">September 4, 2023<\/a><\/p><\/blockquote>\n<p class=\"p2\">The developer\u2019s words echo an earlier post made by the lead marketer on X. According to Lucie, the only way that <a href=\"https:\/\/ktsl888.com\/shiba-inu\/shiba-inu-price-001\/\">SHIB<\/a> would be burned is if the blockchain is being used. Token burns are dependent on fees generated from transactions. So this is why the emphasis should be placed on adoption rather than straight burns. \u201cThe more you use Shibarium, the higher the traffic, which drives up gas fees,\u201d Lucie explained in the tweet.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">WE NEED TO USE <a href=\"https:\/\/twitter.com\/hashtag\/Shibarium?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Shibarium<\/a><br \/>\nIt won&#8217;t burn <a href=\"https:\/\/twitter.com\/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$SHIB<\/a> if you don&#8217;t use it!<\/p>\n<p>Onboarding millions of people to Shibarium will take time and community effort.<\/p>\n<p>More information about burns will be revealed in the upcoming documentation.<\/p>\n<p>BUT it has been clearly explained in\u2026 <a href=\"https:\/\/t.co\/xjo27NlPP8\" rel=\"nofollow\">pic.twitter.com\/xjo27NlPP8<\/a><\/p>\n<p>\u2014 \ud835\udc0b\ud835\udc14\ud835\udc02\ud835\udc08\ud835\udc04 | Summer of Shibarium (@LucieSHIB) <a href=\"https:\/\/twitter.com\/LucieSHIB\/status\/94247294?ref_src=twsrc%5Etfw\" rel=\"nofollow\">September 4, 2023<\/a><\/p><\/blockquote>\n<p class=\"p2\">Lucie pointed out in a follow-up tweet that the Shiba Inu price had been able to hit its previous all-time high without any burn mechanism in place. \u201c$SHIB will be a governance token with global adoption &#8211; the next ATH could be interesting,\u201d she <a href=\"https:\/\/twitter.com\/LucieSHIB\/status\/83931163?s=20\" rel=\"nofollow\">concluded<\/a>.<\/p>\n<h2 class=\"p2\">Will A Shibarium Burn Portal Lead To New ATH?<\/h2>\n<p class=\"p2\">The emphasis being placed on a burn mechanism by the community comes as a result of an expectation that lower supply leads to higher prices. While this is true for digital assets, there are other factors that contribute to a token reaching a new all-time high price.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/shiba-inu-marketing-lead-sends-important-message-to-shib-holders\/\">Shiba Inu Marketing Lead Sends Important Message To SHIB Holders<\/a><\/div>\n<p class=\"p2\">For one, the current crypto market trend has to be considered. With a bear market still raging on, it is safe to say that tokens are not hitting ATHs anytime soon. So even if a Shiba Inu burn portal was introduced today, it would not automatically guarantee a new ATH. However, it could lead to a surge in price, even if briefly. Hence, <a href=\"https:\/\/ktsl888.com\/shiba-inu\/shibarium-growing-rapidly\/\">working toward adoption<\/a> rather than just burns presents a more long-lasting value addition.<\/p>\n<p class=\"p2\">SHIB\u2019s price is currently sitting at $0.000007549 after falling 2.40% in the last day and 6.91% in the last week. It is the 16th-largest cryptocurrency with a market cap of $4.44 billion.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/cr2S3ST7\/\" alt=\"Shiba Inu price chart from Tradingview.com (Shibarium burn)\" width=\"2884\" height=\"1746\"><\/p>\n<pre style=\"text-align: center\">SHIB bulls push price above $0.0000075 support | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">SHIBUSD on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from Unsplash, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The burning of SHIB tokens has become an important part of the Shiba Inu community. Each week, tokens are sent to a \u2018burn\u2019 address by community members as they try to reduce the supply of the token. This is why the introduction of a burn mechanism for the Shibarium Layer 2 network is a welcome development for the community. Lead Dev Says Shiba Inu Burn Portal Is Coming In a tweet shared on X (formerly Twitter) on Monday, Shiba Inu lead marketer LUCIE shared a much-anticipated announcement with the community. Lucie revealed in a screenshot of an exchange with the developer that a Shiba Inu burn portal for Shibarium was being developed. Related Reading: Shiba Inu Whales Begin Accumulation As Shibarium Grows This comes after a long stretch of calls for the team to introduce an automatic burn for SHIB as the Shibarium blockchain grows. However, contrary to the belief that the burn portal is exactly what is needed, the developer emphasized that \u201cBURNS WILL NOT AND ARE NOT THE END ALL BE ALL.\u201d Instead, the developer says that the focus should shift toward the adoption of the blockchain rather than being on just burns. So to confirm that ADOPTION is the right way\ud83c\udf1d$SHIB Burns x Shytoshi answered pic.twitter.com\/BizkLZ0V83 \u2014 \ud835\udc0b\ud835\udc14\ud835\udc02\ud835\udc08\ud835\udc04 | Summer of Shibarium (@LucieSHIB) September 4, 2023 The developer\u2019s words echo an earlier post made by the lead marketer on X. According to Lucie, the only way that SHIB would be burned is if the blockchain is being used. Token burns are dependent on fees generated from transactions. So this is why the emphasis should be placed on adoption rather than straight burns. \u201cThe more you use Shibarium, the higher the traffic, which drives up gas fees,\u201d Lucie explained in the tweet. WE NEED TO USE #Shibarium It won&#8217;t burn $SHIB if you don&#8217;t use it! Onboarding millions of people to Shibarium will take time and community effort. More information about burns will be revealed in the upcoming documentation. BUT it has been clearly explained in\u2026 pic.twitter.com\/xjo27NlPP8 \u2014 \ud835\udc0b\ud835\udc14\ud835\udc02\ud835\udc08\ud835\udc04 | Summer of Shibarium (@LucieSHIB) September 4, 2023 Lucie pointed out in a follow-up tweet that the Shiba Inu price had been able to hit its previous all-time high without any burn mechanism in place. \u201c$SHIB will be a governance token with global adoption &#8211; the next ATH could be interesting,\u201d she concluded. Will A Shibarium Burn Portal Lead To New ATH? The emphasis being placed on a burn mechanism by the community comes as a result of an expectation that lower supply leads to higher prices. While this is true for digital assets, there are other factors that contribute to a token reaching a new all-time high price. Related Reading: Shiba Inu Marketing Lead Sends Important Message To SHIB Holders For one, the current crypto market trend has to be considered. With a bear market still raging on, it is safe to say that tokens are not hitting ATHs anytime soon. So even if a Shiba Inu burn portal was introduced today, it would not automatically guarantee a new ATH. However, it could lead to a surge in price, even if briefly. Hence, working toward adoption rather than just burns presents a more long-lasting value addition. SHIB\u2019s price is currently sitting at $0.000007549 after falling 2.40% in the last day and 6.91% in the last week. It is the 16th-largest cryptocurrency with a market cap of $4.44 billion. SHIB bulls push price above $0.0000075 support | Source: SHIBUSD on Tradingview.com Featured image from Unsplash, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":550073,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[83668,86002,89178,83667,89181,89157,87680,89179,84562,84558],"class_list":["post-550067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shib-burn","tag-shib-news","tag-shiba-inu","tag-shiba-inu-burn","tag-shiba-inu-news","tag-shibarium","tag-shibarium-news","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\n<title>New Shibarium Update Sets The Stage For Shiba Inu To Reach All-Time High<\/title>\n<meta name=\"description\" content=\"This is why the introduction of a Shiba Inu burn 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