The post Shiba Inu Burn Rate Soars 38.79% Amid Shibarium Upgrade, Boosting Investor Confidence appeared on BitcoinEthereumNews.com.

Shiba Inu’s marketing lead has shared insights on the token’s supply and future plans, gaining community interest. A recent upgrade to Shiba Inu’s Shibarium has improved its performance, security, and cross-chain functionalities. The Shiba Inu burn rate saw a 38.79% rise, with 14.17 million tokens burned, driving greater investor enthusiasm. Explore the latest developments in Shiba Inu, focusing on the recent Shibarium upgrade, increased burn rates, and what lies ahead for SHIB prices. Shiba Inu’s Strategy: Token Burn and Community Growth In a recent statement, Lucie, Shiba Inu’s marketing lead, addressed concerns surrounding the meme coin’s significant token supply. She confirmed that the token’s supply could not be altered by developers due to initial keys being burned by Ryoshi. According to Lucie, reducing the supply necessitates buying and burning SHIB tokens, a process requiring substantial community participation and financial investment. The Role of Shibarium in Enhancing Ecosystem Efficiency On September 13th, Shiba Inu’s layer-2 blockchain, Shibarium, underwent a notable upgrade. This update, which includes the Bor upgrade (v1.3.7) and Cancun hard fork, aimed to bolster the platform’s performance, security, and scalability. By incorporating Ethereum’s latest technological advancements, the update has led to reduced gas fees, optimized cross-chain operations, improved storage management, and enhanced security features. Consequently, Shibarium’s efficiency positions it well for future growth, potentially driving higher SHIB burn rates and elevating the token’s value. The Impact of Burn Rates and Investor Sentiment Shiba Inu’s burn rate has recently seen a significant uptick, with 14.17 million tokens burned in the past 24 hours alone. This 38.79% increase in the burn rate has invigorated investor interest, underlining the essential role of community engagement in the token’s journey. Lucie emphasizes that the community’s active participation is pivotal, stating, “It’s all about growing the community and letting the system do its magic.” Market…

---

Filed under: News - @ September 14, 2024 9:46 pm