In an aim to reduce the circulating supply of SHIB, the Shiba Inu team has confirmed that Shibarium will begin burning tokens in January 2024.
The burning function will be fully implemented starting this month after the layer-2 network launch in August of 2023.
In an official blog post, the Shiba Inu development team has confirmed that the Shibarium network will begin burning SHIB tokens this month. This is great news for the SHIB community which has been highly anticipating this development. Shibarium will be able to burn trillions of tokens by sending them to dead wallets and permanently destroying them. Ideally, by reducing the circulating supply, the move will drive demand and influence prices. Past burns have led to price increases but due to the low volume, the changes have remained relatively insignificant.
Launched in August 2023, the Shibarium network has largely been a success based on its posted figures. As CNF reported last month, the network has surpassed over 100 million
Solana Co-founder Reacts As Apple’s M Chip Vulnerability Threatens Crypto Security
In an exhilarating turn of events, Solana co-founder Anatoly Yakovenko recently took to a post on X, reacting…
