Last updated on May 18th, 2024 at 11:54 am
In a recent update, Shiba Inu marketing strategist known by Lucie has encouraged SHIB holders to use Shibarium in order to initiate burns. In the post, Lucie diverted questions to the community asking when they will migrate from exchanges to the new Shibarium platform.
Furthermore, Lucie shed light on the anticipated SHIB burn by the layer 2 blockchain solution, Shibarium. According to the post, the burns are initiated per transaction and “not based on tweets.”
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)
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The burns are set per transaction, not based on tweets about burns.…
— 𝐋𝐔𝐂𝐈𝐄 | ✨Shibarium✨ (@LucieSHIB) September 18, 2023
She stressed that the SHIB burn through Shibarium is only possible through community engagement. In addition, she reiterated the importance of understanding the SHIB tokenomics.
Lucie also asserted that it is unrealistic to expect SHIB burns to occur only through transactions and without community engagement. She encouraged millions of holders to support the move.
Lucie continued by emphasizing the importance of migrating to Shibarium from other cryptocurrency exchanges as the burns are tied to transaction activities.
“The real question is, “When will you all migrate from exchanges and start using Shibarium?” […] The burns are set per transaction, not based on tweets about burns,” she said.
Furthermore, she reminded users about the “almost negligible” fee associated with using Shibarium and the potential for an increase as the number of transactions on the network surges.
She urged the Shiba Inu community to not just hype burns, but also use Shibarium buttressing that SHIB burn is not a call to developers saying “Do something,” but rather it is a community effort.
Ultimately, she reiterated that the community has to actively use Shibarium in order to initiate burns, stating that “the more you utilize it, the more you contribute to the burns.”
Shiba Inu burn data today
According to live data from Shibburn – a dedicated Shiba Inu burn tracker, a total of 30,816,353 (30.8 million) SHIB tokens have been burned over the last 24 hours. Interestingly, the aforementioned number of burns was carried out across 14 transactions.
The Shiba Inu community has successfully sent over 410 trillion SHIB tokens to burn wallets in a bid to drastically reduce the number of SHIB tokens in circulation. Significantly, Shiba Inu burn rate is down 44.3% in the last 24 hours.
Read More:
- Higher Shibarium Gas Fees Might Be Good For SHIB Burn Says Lucie
- Over 231 Million SHIB Burned in 24 Hours by Two Wallets
- Shiba Inu Whales Carry Out Cumulative Transactions Worth Over $10 Million
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.