Connect with us

Shibarmy News

Shib Army News: Shibarium Shifts to Automatic SHIB Burning Getting Ready For The Bull Run

Published

4 months ago

on

(Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. Every investment and all trading involves risk, so you should always do your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.)

In recent news from the Shiba Inu team, there’s a big change happening with how SHIB tokens will be burned going forward. Up until now they’ve been doing it manually, but that’s stopping this month. The team’s blog just let everyone know that their new automated system in Shibarium is going to take over the job in January 2024. Shibarium is growing by the day and that includes the technology that is being introduced.

ADVERTISEMENT

What does this mean for Shib? Well, it’s all about making SHIB tokens rarer which could help their value over time. Shibarium will continue to grow and with the expected bull market quickly approaching this could be a game changer for SHIB, possibly pushing it up in the market back into the top 10 ranking it once held.

So, how does Shibarium do its thing with burning SHIB? It’s pretty straightforward. Every time someone makes a transaction on Shibarium, they pay a fee. A big chunk of these fees, like 70%, is going to be used to burn SHIB tokens. The rest, about 30%, is for keeping Shibarium running smoothly.

ADVERTISEMENT

It’s a 70-30 split. Seventy percent of the transaction fees go into making SHIB more scarce by burning them, and the remaining thirty percent keeps Shibarium up and running. This move by the Shiba Inu team could really shake things up for the SHIB token in the crypto world.

ADVERTISEMENT
Related Topics:

Trending