Shiba Inu Manager Says Burning 99% of SHIB’s Circulating Supply Is Possible

Shiba Inu head Shytoshi Kusama argued that it is possible to burn 99% of SHIB’s circulating supply, but noted that there are larger price catalysts.

Kusama once again addressed a pressing issue in the Shiba Inu community regarding token burns. The pseudonymous official responded to an enthusiast who asked about the timeline or roadmap for burning 99% of the Shiba Inu token.

In answerKusama said it was now possible to incinerate 99% of Shiba Inu in circulation. He stressed that the concept would have been insurmountable a few years ago, but “with many projects grouped together” in the ecosystem, the milestone has become achievable.

However, the official placed a clause on the ambitious burning step. He noted that such a significant depletion rate would only occur if more projects or a few megaprojects adopted the Shiba Inu ecosystem technology stack.

Kusama Shares Increased Burn Disadvantages

Meanwhile, the pseudonym Shiba Inu Head noted that increased burning rates result in a setback for the ecosystem. He said in the thread that the price of SHIB could increase along with the increase in burns.

99% is also difficult for several reasons. 1. Assuming things start to take a huge turn, people will buy considering the price is going to skyrocket. In this case, it would be more expensive to burn Shib, which would slow down the combustion. In this case, it is. It’s not the burn that matters, it’s…

– Shytoshi Kusama™ (@ShytoshiKusama) November 24, 2024

As a result, buying Shiba Inu would eventually become too expensive, slowing consumption rates. The official then insisted that SHIB incineration is not all that matters, concluding that there are several other ways for the Shiba Inu ecosystem to thrive.

Lead shares the ultimate solution

In conclusion, Kusama declared that a more sustainable way to increase the price and ecosystem of the Shiba Inu is to encourage its adoption. He argued that if the play itself has In a real use case, the ecosystem will thrive so much that users will not want to burn their tokens.

Notably, the official previously highlighted the importance of mainstream adoption for the Shiba Inu ecosystem. In a communication Last week, Kusama argued that Shiba Inu’s widespread public service would raise prices and attract large centralized exchanges to the ecosystem.

Kusama noted that it was on the basis of adoption that the Shiba Inu ecosystem was launched. liquid staking and other cool features. He also emphasized that new use cases for Shiba Inu and other the tokens in the ecosystem were equally important.

Meanwhile, the burn rate question followed Kusama’s investigation into some topics the community wanted him to cover on his podcast. The manager has periodically used this approach to resolve pressing issues within the Shiba Inu ecosystem.