Shiba Inu Lead Says Burning 99% of SHIB Circulating Supply is Possible

Shiba Inu lead Shytoshi Kusama has argued that burning 99% of SHIB’s circulating supply is possible but noted there are more important price catalysts.

Kusama has again addressed a pressing issue in the Shiba Inu community regarding token burns. The pseudonymous lead responded to an enthusiast who asked about the timeline or roadmap to burning 99% of the Shiba Inu token.

In response, Kusama indicated that incinerating 99% of circulating Shiba Inu was now possible. He noted that the concept would have been insurmountable a few years ago, but “with many projects banding together” on the ecosystem, the milestone has become attainable.

However, the lead placed a clause on the ambitious burn milestone. He noted that a burn rate that significant would only happen if more projects or a few mega ones adopted the Shiba Inu ecosystem tech stack.

Kusama Shares Increased Burn Drawbacks

Meanwhile, the pseudonymous Shiba Inu lead noted that increased burn rates have a setback for the ecosystem. He stated in the thread that the SHIB price could rise alongside the increase in burns.

99% is also hard for a few reasons. 1. Assuming things started spiraling to a huge burn, people will buy considering that the price will moon. In this case, it would be more expensive to burn Shib, slowing down burning. In that case, it’s. It’s not the burning that matters its…

— Shytoshi Kusama™ (@ShytoshiKusama) November 24, 2024

As a result, buying Shiba Inu would eventually become too expensive, slowing down burn rates. The lead then insisted that SHIB incineration is not all that matters, concluding that there are several other ways for the Shiba Inu ecosystem to thrive.

Lead Shares the Ultimate Solution

Conclusively, Kusama stated that a more sustainable means of boosting Shiba Inu’s price and ecosystem is to drive adoption. He argued that if the meme coin has a real-world use case, the ecosystem will thrive so much that users would not want to burn their tokens.

Notably, the lead had earlier emphasized the importance of mainstream adoption for the Shiba Inu ecosystem. In a communication last week, Kusama argued that the widespread Shiba Inu utility would increase prices and draw major centralized exchanges to the ecosystem.

Kusama noted that it is on the adoption premise that the Shiba Inu ecosystem launched liquid staking and other exciting features. He also insisted that new use cases for Shiba Inu and other tokens in the ecosystem were equally important.

Meanwhile, the burn rate question followed Kusama’s inquiry about some topics the community wanted him to address in his podcast. The lead has periodically used this approach to address pressing issues within the Shiba Inu ecosystem.

Source