Shiba Inu Burns More Tokens, What is the Price Prediction?

Bittime - Shiba Inu (SHIB) is attracting attention again with its ambitious plans to increase its value. Lucie, Shiba Inu's marketing lead, revealed a new strategy aimed at addressing investors' concerns regarding the token's large supply and future growth potential.

Shiba Inu said it would burn more tokens to reduce supply. What is the future price prediction for Shiba Inu (SHIB)? Check out the review.

Shiba Inu Gets Criticized

Responding to criticism from a user on platform X (formerly Twitter) about the SHIB supply being too large, Lucie explained that developers cannot change the token supply directly. 

"The key to controlling supply has been burned by Ryoshi, the founder of Shiba Inu, so no one can just change it," said Lucie.

However, that doesn't mean there is no solution. Lucie emphasized the importance of the process of “buying and burning” SHIB tokens to gradually reduce their supply. 

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"To reduce supply, SHIB needs to be bought and burned, and that requires funds," he explained. Lucie added that to achieve significant reductions, participation from millions, if not billions of users is required.

Shiba Inu's Future Plans

The main strategy launched is to build an ecosystem that is able to attract many users to use Shibarium, Shiba Inu's layer-2 blockchain network, every day. 

"The more users we have, the more SHIB can be burned, so its value will increase over time," emphasized Lucie.

This statement came after Shibarium underwent a major update on September 13. This update brings a number of significant improvements, including the Drill upgrade (v1.3.7) and the Cancun hard fork, aimed at improving network performance, security and scalability.

Key changes include the integration of Ethereum's latest technology for smoother performance, lower gas fees, and optimization of inter-chain operations. 

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This update also introduces better storage management and enhanced security measures. Additionally, transaction speeds have been improved, while inter-chain transfers have become more stable.

With Shibarium now more efficient, the platform is in a better position for growth. This is expected to attract more users, which will ultimately drive an increase in the burning rate of SHIB and increase its value.

The latest data shows that the Shiba Inu burn rate has started to increase. Shibburn, a SHIB burn tracker, reported that 14.17 million tokens were burned in the last 24 hours, marking an increase of 38.79%. This has helped increase investor confidence and sparked renewed interest in SHIB.

Prediksi Harga Shiba Inu (SHIB)

Currently, Shiba Inu price is above the support level of $0.000013 (Rp.0.199) despite its recent 2% decline. However, if the bullish trend continues, analysts predict that this meme cryptocurrency could break through the resistance level of $0.000015 (Rp.0.2295) in the near future. 

In fact, according to SHIB price analysis in Coingape, the meme coin could reach $0.0003 (Rp. 4.59) by the end of September if the bullish momentum continues.

However, Lucie emphasized that the success of this strategy depends on the active participation of the entire community. 

"It will only work if everyone pitches in. The point is to develop a community and let the system work itself out!" he closed.

With this ambitious plan, Shiba Inu seeks to not just be an ordinary “meme coin”, but develop into a digital asset that has real value and utility. 

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