10 trillion Shiba Inu (SHIB) is rumored to be burned monthly this year as the automatic transition phase of the burning mechanism starts this month.
According to Shytoshi Kusama, the token burning would have to be accompanied by network adoption to see price growth.
CNF reported last year that Shibarium would be introducing a transformative token burn mechanism this year to strategically reduce the supply of Shiba Inu, increasing the value for the benefit of the ecosystem. The initial phase of the token burn mechanism was the manual stage where the process was managed by an official deployer wallet.
This was to ensure close monitoring and adjustment as well as alignment to the network’s health and sustainability. The second phase which is the Automated Transition was reported to see the mechanism evolving into an automatic system. In that report, it was disclosed that the process would start this month. Currently, the Shib community is discussing on various forums the number of
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