Shiba Inu lead developer Shytoshi Kusama addressed speculation surrounding Shiba Inu (SHIB) and Bone ShibaSwap (BONE) burn on Shibarium, confirming the burning of $75,000 worth of SHIB tokens in the initial burn from accumulated BONE tokens. The recent significant hard fork of Shibarium introduces a crypto tokens burn model. Kusama clarified the focus on burning only SHIB tokens, stating, “No. Burn Shib. Period.” The ongoing accumulation of 1.35 million BONE, valued at over $1.2 million, anticipates a substantial SHIB burn to decrease circulating token supply and boost Shiba Inu ecosystem tokens’ prices. On Dec 4, the Shib team burned 8.24 billion SHIB, aiming to enhance burn capacity through a new mechanism, as shared by developer Kaal Dhairya.
SHIB Inu Price Likely To Hit $0.01 in the Future
The anticipated Shiba Inu burn mechanism aims to eliminate trillions of tokens, potentially propelling the SHIB price to $0.01. Significant gains were observed this week for SHIB, BONE, and LEASE amidst substantial burns and new developments.Over the past 24 hours, SHIB experienced a 2% price increase, reaching $0.0000102. The trading range during this period ranged from a low of $0.0000099 to a high of $0.0000104.Contrastingly, BONE and LEASH tokens declined, currently trading at $0.89 and $348, respectively, as the SHIB team focuses solely on burning SHIB tokens.
