A prominent Shiba Inu team member “Lucie” has shared insights on the highly anticipated Shiba Inu token burn through Shibarium, Shiba Inu’s Layer 2 blockchain, and has revealed what investors should do if they want the Shiba Inu token burns.
Shiba Inu Team Member Tells Investors What To Do
The content marketing specialist for Shiba Inu took to X on Monday, September 18, 2023, to address the Shiba Inu token burn questions coming from the community saying that SHIB burns are set per transaction, not based on tweets about burns.
Lucie told the community that when will Shibarium initiate the SHIB burn is the wrong question and “The real question is, ‘when will you all migrate from exchanges and start using Shibarium?’”
When will Shibarium initiate the SHIB burn?”
Wrong question ☓
The real question is, “When will you all migrate from exchanges and start using Shibarium?” (hello DEFI, remember bankrupted exchanges like FTX)
The burns are set per transaction, not based on tweets about burns.…
— 𝐋𝐔𝐂𝐈𝐄 | ✨Shibarium✨ (@LucieSHIB) September 18, 2023
Lucie further explained that the Shiba Inu token burns through Shibarium is a collective effort from both the community and the Devs since the burns are based on transaction activity and real engagement from within the platform. She told the community that expecting burns to happen solely through transactions without active community participation is unrealistic.
The marketing expert went on to highlight the security features of choosing Shibarium as an alternative to centralized crypto exchanges. She guaranteed SHIB holders that assets stored on the platform are just as safe as they would be on centralized crypto exchanges.
She also stated that centralized crypto exchanges can be fragile using the case of the bankrupted centralized crypto platform FTX to back up her claims.
So far, Lucie has urged the millions of SHIB holders to support this movement using Shibarium as an alternative to centralized crypto exchanges since each transaction on the platform contributes to the SHIB token burns.
She also added that transaction fees are pretty low on the platform, but might increase in the future along with the higher traffic, which would translate to a higher number of SHIB being burned.
SHIB price sees a slight recovery to $0.00000738 | Source: SHIBUSD on Tradingview.com
Lucie also stretched her opinions to one of the most popular NFT marketplaces Opensea, inviting them to consider integrating Shibarium on the platform.
Shibarium is a layer 2 blockchain built on the Ethereum network. It is a decentralized finance (DeFi) platform that was designed to serve as an alternative to centralized crypto exchanges which aims to provide a more sustainable and scalable infrastructure for Shiba Inu transactions.
SHIB Price Predictions Following Shibarium’s Success
For years now, Shiba Inu has been one of the most notable cryptocurrencies in the crypto market. The famous meme coin is likely to experience an upward trajectory if Shibarium becomes a success since it could catalyze a larger adoption and popularity of the SHIB tokens.
SHIB token is expected to reach $0.00001038 from its current price of $0.0000073 by the end of 2023 with expectations of another crypto market rally. However, with the success of Shibarium and the new development on the platform, the SHIB token could grow up to $0.000050 by the end of 2023.
Nevertheless, if the SHIB token manages to maintain this trajectory, during the next bull market the token could beat its all-time high price of $0.00008845 achieved in the 2021 bull market.
Featured image from CoinMarketCap, chart from Tradingview.com