Burn

Shiba Inu

Rise

Trillion

<div class="watcher-guru"> 
 <p>The Shiba Inu community is quite optimistic about the SHIB burn mechanism. They believe that the asset could ‘burn’ its way up to psychological benchmarks like $0.001 and $0.01. The community keeps burning Shiba Inu tokens on a daily basis. Additionally, <a rel="noopener noreferrer nofollow" title="Shibarium" href="https://thebittimes.com/tag/shibarium.html">Shibarium</a> is also set to remove tokens out of the circulating supply. Now that the L2 network has already been launched, could trillions of tokens be burnt and propel SHIB’s price to new highs?</p> 
 <p><strong>Also Read: Shiba Inu Investor Misses 200,000x Returns on SHIB, Here’s Why</strong></p> 
 <h3 class="wp-block-heading" id="h-the-real-impact-of-shibarium-will-reflect-in-8-12-months">The real impact of Shibarium Will Reflect in 8-12 Months</h3> 
 <p>In 2022, ‘Queenie’ chalked out a hypothetical scenario about how many burns could actually transpire. She projected that if things went as planned, around 111 trillion SHIB tokens could be burned each year. That is approximately&nbsp;20% of Shiba Inu’s circulating supply. She projected on Twitter that even if a 1% transaction fee for SHIB burns was implemented in <a rel="noopener noreferrer nofollow" title="Shibarium" href="https://thebittimes.com/tag/shibarium.html">Shibarium</a> and ShibaSwap 2.0, they could collectively burn trillions of tokens per year.</p> 
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    <p lang="en" dir="ltr">Anyone can run hypotheticals from current data 🙂 <br>I did this just now: pic.twitter.com/iSeKJeB9V9</p>— Queenie (@Web3Queenie) March 31, 2022 
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 <p>According to data from Shibburn, around 25,100,470 SHIB&nbsp;tokens have been burned over the past 24 hours. However, that marks a 74.94% decline in the 24-hour timeframe. </p> 
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   <img decoding="async" width="500" height="270" src="https://cdn.thebittimes.com/images/2023/09/02/ba972e3a07b9a3b34159d223d7ec0cc1.webp" alt="Community estimates suggest that Shibarium could burn 5 trillion Shiba Inu tokens every month, summing up to 60 trillion tokens every year." class="wp-image-110057" srcset="https://cdn.thebittimes.com/images/2023/09/02/ba972e3a07b9a3b34159d223d7ec0cc1.webp 500w, https://cdn.thebittimes.com/images/2023/09/02/ba972e3a07b9a3b34159d223d7ec0cc1.webp 300w, https://cdn.thebittimes.com/images/2023/09/02/ba972e3a07b9a3b34159d223d7ec0cc1.webp 380w" sizes="(max-width: 500px) 100vw, 500px"> 
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     Source: CoinMarketCap 
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 <p><strong>Also Read:&nbsp;When Will Shiba Inu Reach 1 Cent?</strong></p> 
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 <p>Several community estimates suggest that <a rel="noopener noreferrer nofollow" title="Shibarium" href="https://thebittimes.com/tag/shibarium.html">Shibarium</a> could single-handedly burn 5 trillion tokens every month, summing up to 60 trillion tokens every year. However, the team has not given any official confirmation regarding this. Shiba Inu team member Lucie recently pointed out that several influencers have been making ”big promises” regarding SHIB burns lately. Explaining the fundamentals, she she asserted that every time a user uses <a rel="noopener noreferrer nofollow" title="Shibarium" href="https://thebittimes.com/tag/shibarium.html">Shibarium</a>, SHIB will get burned. She clarified,</p> 
 <p><strong>Also Read:&nbsp;Shiba Inu Forecasted to Rise 925%: Here’s When</strong></p> 
 <p><strong>It’s [<a rel="noopener noreferrer nofollow" title="Shibarium" href="https://thebittimes.com/tag/shibarium.html">Shibarium</a>] designed to burn SHIB, and yes, the gas fees are intentionally kept low. This way, millions of people can use it and contribute to burning SHIB tokens. So, it’s not just a few people burning millions of dollars.”</strong></p> 
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 <p>Stressing why patience is the key, she added,</p> 
 <p><strong>“We’ll soon find out how much has been burned in the upcoming updates. No need to rush. This is all part of a long-term plan. The real impact of <a rel="noopener noreferrer nofollow" title="Shibarium" href="https://thebittimes.com/tag/shibarium.html">Shibarium</a> will start to show in 8-12 months.”</strong></p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>burn rate</li> 
  <li>shib</li> 
  <li>shiba inu</li> 
  <li>Shibarium</li> 
 </ul> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/shiba-inu-can-shibarium-burn-111-trillion-shib-every-year-tbt61256.html">https://thebittimes.com/shiba-inu-can-shibarium-burn-111-trillion-shib-every-year-tbt61256.html</a></p>

Shiba Inu: Can Shibarium Burn 111 Trillion SHIB Every Year?

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