Shiba

Bone

Discord

Shiba Inu

<div class="watcher-guru"> 
 <p>According to a Discord update by DaVinci, Shiba Inu’s (SHIB) Shibarium network has undergone a hard fork. The objective of the hard fork is to enhance burns and allow multiple token burning, namely SHIB and ShibaSwap Bone (BONE). </p> 
 <p>BONE, Shibarium’s governance token, has surged 0.8% in the last 24 hours and 24.7% in the weekly charts. Moreover, the asset is up 24.2% in the 14-day chart and 8.4% over the previous month. </p> 
 <p><strong>Also Read: Shiba Inu: Burn Rate Spikes 7,686,774%, Will it Delete a Zero?</strong></p> 
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  <img decoding="async" width="1024" height="863" src="https://cdn.thebittimes.com/images/2023/12/08/d5a11ad5be78c619ca6889b6cce11cce.webp" alt class="wp-image-121140" srcset="https://cdn.thebittimes.com/images/2023/12/08/d5a11ad5be78c619ca6889b6cce11cce.webp 1024w, https://cdn.thebittimes.com/images/2023/12/08/d5a11ad5be78c619ca6889b6cce11cce.webp 300w, https://cdn.thebittimes.com/images/2023/12/08/d5a11ad5be78c619ca6889b6cce11cce.webp 768w, https://cdn.thebittimes.com/images/2023/12/08/d5a11ad5be78c619ca6889b6cce11cce.webp 1536w, https://cdn.thebittimes.com/images/2023/12/08/d5a11ad5be78c619ca6889b6cce11cce.webp 380w, https://cdn.thebittimes.com/images/2023/12/08/d5a11ad5be78c619ca6889b6cce11cce.webp 550w, https://cdn.thebittimes.com/images/2023/12/08/d5a11ad5be78c619ca6889b6cce11cce.webp 800w, https://cdn.thebittimes.com/images/2023/12/08/d5a11ad5be78c619ca6889b6cce11cce.webp 1160w, https://cdn.thebittimes.com/images/2023/12/08/d5a11ad5be78c619ca6889b6cce11cce.webp 1650w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: CoinGecko
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 <p>On the other hand, Shiba Inu (SHIB) has faced a 4% correction in the daily charts. However, the token is still up by 16.2% in the weekly charts and over 13% over the last month. </p> 
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  <img decoding="async" width="1024" height="835" src="https://cdn.thebittimes.com/images/2023/12/08/ef6da0e00aeca84876bc773505adf5c1.webp" alt class="wp-image-121141" srcset="https://cdn.thebittimes.com/images/2023/12/08/ef6da0e00aeca84876bc773505adf5c1.webp 1024w, https://cdn.thebittimes.com/images/2023/12/08/ef6da0e00aeca84876bc773505adf5c1.webp 300w, https://cdn.thebittimes.com/images/2023/12/08/ef6da0e00aeca84876bc773505adf5c1.webp 768w, https://cdn.thebittimes.com/images/2023/12/08/ef6da0e00aeca84876bc773505adf5c1.webp 1536w, https://cdn.thebittimes.com/images/2023/12/08/ef6da0e00aeca84876bc773505adf5c1.webp 380w, https://cdn.thebittimes.com/images/2023/12/08/ef6da0e00aeca84876bc773505adf5c1.webp 550w, https://cdn.thebittimes.com/images/2023/12/08/ef6da0e00aeca84876bc773505adf5c1.webp 800w, https://cdn.thebittimes.com/images/2023/12/08/ef6da0e00aeca84876bc773505adf5c1.webp 1160w, https://cdn.thebittimes.com/images/2023/12/08/ef6da0e00aeca84876bc773505adf5c1.webp 1666w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: CoinGecko
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 <p>While many have applauded the update to allow BONE burns, others have questioned the move. Many holders have asked why they would surrender governance power by burning BONE tokens. </p> 
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 <h3 class="wp-block-heading" id="h-will-shiba-inu-s-shib-price-rally-after-the-new-burn-mechanism">Will Shiba Inu’s (SHIB) price rally after the new burn mechanism?</h3> 
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 <p>A new burn mechanism has been under development for quite some time. SHIB fans and users are still pursuing a price of $0.01 (one cent) for the asset. However, given the project’s massive supply, $0.01 seems like an unachievable target. Nonetheless, if the new burn mechanism can incinerate most of the SHIB tokens in circulation, it would make the one-cent-dream more approachable. </p> 
 <p><strong>Also Read: Shiba Inu: Here is How to Be a Millionaire When SHIB Hits $0.05</strong></p> 
 <p>However, the team has not given any updates on how many tokens they can burn with the new fork. For SHIB to reach a price of $0.01, a significant amount of tokens require burning. </p> 
 <p>Moreover, burns alone will not push Shiba Inu’s (SHIB) price. According to lead developer Shytoshi Kusama, the token also needs to see an increase in demand. As more applications launch on Shibarium, we may see an increase in adoption soon. </p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/shiba-inu-shibarium-undergoes-fork-to-boost-burns-0-01-soon-tbt72998.html">https://thebittimes.com/shiba-inu-shibarium-undergoes-fork-to-boost-burns-0-01-soon-tbt72998.html</a></p>

Shiba Inu: Shibarium Undergoes Fork to Boost Burns, $0.01 Soon?

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