The primary developer within the Shiba Inu ecosystem has contended that the elimination of 99.9% of Shiba Inu’s circulating supply is a feasible proposition.
In a recent social media post, Shytoshi Kusama, the mysterious figure leading the Shiba Inu development team, conveyed the notion that reducing Shiba Inu’s current circulating supply to 0.1% of its existing magnitude is an achievable vision.
This bold statement emerged during a conversation with a Shiba Inu critic, taking place against the backdrop of Shibarium’s notable positive metrics, boasting transactions reaching an unprecedented 150 million.
In response to Shibarium’s success, the Shiba Inu critic sarcastically suggested to Kusama the burning of 99.9% of SHIB tokens, potentially using the fees generated from Shibarium transactions. The critic further asserted that such a hypothetical scenario could not become a reality, as he deemed Shiba Inu to be of inferior quality.
The leader of Shiba Inu asserts that everything is within the realm of possibility.
Nevertheless, the leader of the Shiba Inu ecosystem responded to the critic’s perspective with a concise counterargument.
With SHIB’s circulating supply currently standing at 580,925,715,095,591 (580 trillion), reducing it by 99.9% would bring Shiba Inu’s supply down to 580 billion, which remains a substantial figure.
In response to Kusama’s statement, members of the Shiba Inu community embraced the concept, emphasizing that achieving such a milestone requires nothing more than patience. Raul Valadez-Rayas, a Shiba Inu enthusiast based in the U.S., commented:
“Eagerly anticipating Shytoshi Kusama’s move. Can’t wait to witness trillions of SHIB burned one day, bringing joy to everyone in the SHIB ARMY.”
Shiba Inu team’s endeavors to execute SHIB burning initiatives.
Significantly, the Shiba Inu development team has conducted its third and fourth routine token burns, utilizing fees generated from Shibarium transactions.
According to reports from Crypto Basic, the team successfully incinerated over 17 billion SHIB tokens within the last 24 hours through two transactions. The initial transaction, carried out yesterday, saw the elimination of 8.53 billion SHIB, followed by another 8.47 billion SHIB burned in less than 23 hours.
This month alone, the Shiba Inu team has burned an impressive total of 33,862,174,416 (33.8 billion) SHIB tokens.