[ccpw id="39382"]

HomeCrypto NewsMarketNew All-Time High for Shiba Inu 'Could Be Interesting' With Shibarium Burns

New All-Time High for Shiba Inu ‘Could Be Interesting’ With Shibarium Burns


Shiba Inu marketing specialist Lucie urges the community to use Shibarium to burn SHIB tokens as it could be headway to a new ATH.

- Advertisement -

The Shiba Inu team remains unwavering in its commitment to cutting the current enormous circulating SHIB token supply. In a recent tweet, Shiba Inu marketing specialist Lucie urged the SHIB Army to interact with the recently launched scaling solution, Shibarium. 

Lucie noted that without the community using Shibarium en masse, the blockchain by itself will not burn SHIB tokens.

“We need to use Shibarium. It won’t burn SHIB if you don’t use it!” the Shiba Inu marketing representative proclaimed. 

- Advertisement -

Shibarium Burning Shiba Inu

In the tweet, Lucie highlighted that the community can expect more information about how Shibarium will burn SHIB in an upcoming documentation. Yet, Lucie noted the current existing documentation explains the burning mechanism. 

According to the documentation, the base fee for Shibarium transactions becomes temporarily allocated within a Shibarium contract when a user initiates a transaction. Notably, 70% of the base fee will go into burning SHIB, while the remaining 30% will be for network maintenance.

On the other hand, the priority fee is directed towards compensating the validator. 

- Advertisement -

Meanwhile, the content marketer mentioned that onboarding people to Shibarium in millions requires patience and community effort. This view may be attributed to the fact that Shibarium is a new blockchain requiring time for people to learn to use it.

Also, Lucie’s tweet included a screenshot of a comment from Shiba Inu’s lead developer, Shytoshi Kusama. The lead developer remarked that burning billions of dollars worth of SHIB is no easy task.

Therefore, Lucie urged the community to use Shibarium more, as the traffic surge could necessitate increased gas fees. The situation ultimately increases in more Shiba Inu burns.

In a similar conversation, the SHIB content marketer emphasized that burning SHIB tokens in Shibarium is a long-term endeavor. Specifically, Lucie mentioned that the SHIB Army can anticipate the effects of Shibarium on Shiba Inu within the coming eight months.

Shiba Inu’s New ATH Will be Unbelievable

Meanwhile, Lucie stated Shiba Inu reached its previous all-time high (ATH) with less burn and overall utility. She argued that Shiba Inu now has more utility alongside more concerted efforts at burning SHIB.

Lucie remarked:

Last SHIB ATH was without any burn with little adoption compared to now. SHIB will be a governance token with global adoption – the next ATH could be interesting.”

Follow Us on Twitter and Facebook.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Abdulkarim Abdulwahab
Abdulkarim Abdulwahabhttp://thecryptobasic.com
Abdulkarim Abdulwahab is a blockchain writer with a specific interest in journalistic writing. He covers breaking events in the crypto community and blockchain industry. Over the past year, he has published over 1,500 short-form and long-form content for Web3 publishing firms.

More from Author