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HomeCrypto NewsMarketShiba Inu Team Says Migrate from Exchanges to Shibarium to Increase SHIB Burn Rate

Shiba Inu Team Says Migrate from Exchanges to Shibarium to Increase SHIB Burn Rate


The Shiba Inu content marketing specialist Lucie has taken to X to stress the need for Shiba Inu enthusiasts to store their assets on Shibarium rather than exchanges.

In the tweet, Lucie first highlighted a prevailing inquiry regarding Shibarium’s role in SHIB burn. The Shiba Inu representative corrected that asking when Shibarium will burn SHIB tokens is a wrong question.

Lucie noted that the question is technically inaccurate since the Shibarium blockchain itself cannot burn SHIB tokens. Instead, she posed a more pressing query to the Shiba Inu community:

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“When will you all migrate from exchanges and start using Shibarium?” 

Lucie expressed amusement at the enthusiasm surrounding token burns while many neglect to use Shibarium actively. Lucie reminded the community how SHIB tokens burn with Shibarium. 

She underlined that Shiba Inu burns are determined solely per transaction on the blockchain and not based on tweets or discussions about burns. She added that SHIB burns are a collective effort by the community, not a demand for action from developers.

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“The fact remains that $SHIB burns are a community effort, not a call to the devs saying, ‘Do something’, Lucie remarked.

In other words, the more Shiba Inu enthusiasts engage with the Shibarium platform, the more they contribute to SHIB token burns.

Also, Lucie highlighted that the Shiba Inu community has the numbers to push for significant token burns, provided SHIB holders join the burn movement en masse. Lucie urged the community to support the activity in their millions. 

Moreover, the SHIB representative noted that fees on Shibarium are almost negligible but could increase with higher traffic.

Store Assets on Shibarium, Not Exchanges 

Furthermore, Lucie highlighted the security features of Shibarium. She stated that assets stored on the platform are as safe as they would be on an exchange. 

Meanwhile, Lucie called the SHIB Army’s attention to the risk associated with using centralized crypto exchanges to manage their Shiba Inu portfolios. She cited the case of the bankrupted FTX exchange, which, at its peak, was the second-largest exchange. 

Ultimately, she extended an invitation to Opensea, a popular NFT marketplace, urging them to consider integrating Shibarium.

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.

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