Shiba Inu Team Member Reveals Insights on Token Burn Through Shibarium, Encourages Community Participation
A member of the prominent Shiba Inu team, known as “Lucie,” recently provided valuable insights about the highly anticipated Shiba Inu token burn. Lucie shared these insights through Shibarium, Shiba Inu’s Layer 2 blockchain. Lucie emphasized the importance of community participation and outlined what investors should do to contribute to the token burns.
Shiba Inu’s Content Marketing Specialist, Lucie, took to Twitter on September 18, 2023, to address questions from the community regarding the token burn. Lucie clarified that SHIB burns are set per transaction, and they are not based on tweets about burns, contrary to popular belief.
Lucie stated, “The real question is, ‘when will you all migrate from exchanges and start using Shibarium?'” She stressed the significance of utilizing Shibarium for token burns instead of relying solely on exchanges. Lucie emphasized that expecting burns to occur exclusively through transactions, without active community participation, is unrealistic.
Furthermore, Lucie highlighted the security features offered by Shibarium as an alternative to centralized crypto exchanges. She assured SHIB holders that their assets stored on the platform are just as safe as they would be on centralized exchanges. To support her claims, Lucie referred to the example of the bankrupted centralized crypto platform FTX.
Lucie urged the millions of SHIB holders to embrace Shibarium as an alternative to centralized exchanges. Each transaction on the platform contributes to the SHIB token burns. She also noted that transaction fees on Shibarium are currently low but may increase in the future as traffic grows. This increase would result in a higher number of SHIB being burned.
Lucie also extended her opinions to Opensea, one of the most popular NFT marketplaces, inviting them to consider integrating Shibarium on their platform. Shibarium is a layer 2 blockchain built on the Ethereum network. It serves as a decentralized finance (DeFi) platform that aims to provide a sustainable and scalable infrastructure for Shiba Inu transactions.
The success of Shibarium could potentially lead to SHIB tokens experiencing a larger adoption and increased popularity. Shiba Inu has been one of the most notable cryptocurrencies in the crypto market for years, and Shibarium’s success could further catalyze its growth.
According to predictions, the SHIB token is expected to reach $0.00001038 by the end of 2023, with expectations of another crypto market rally. However, with the success of Shibarium and the new developments on the platform, the SHIB token could grow up to $0.000050 by the end of 2023. In addition, if the token maintains its trajectory, it could surpass its all-time high price of $0.00008845 achieved during the 2021 bull market.
Overall, Lucie’s insights provide valuable guidance for Shiba Inu investors and highlight the importance of community participation and the utilization of Shibarium for token burns. The Shiba Inu team continues to work towards creating a sustainable and scalable ecosystem for SHIB tokens.
Sources:
– Shibarium: https://www.newsbtc.com/shiba-inu/shiba-inu-scammers-shibarium/
– SHIB burns: https://bitcoinist.com/shiba-inu-burn-rate-drops/
– FTX crypto platform: https://bitcoinist.com/ftx-sam-bankman-fried/
– Ethereum network: https://www.newsbtc.com/news/ethereum/ethereum-holesky-testnet/
– SHIB token predictions: https://www.newsbtc.com/news/dogecoin/shiba-inu-dogecoin-cardano/
Image source: CoinMarketCap, chart from Tradingview.com
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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