Shiba Inu is at a crucial turning point where it has the opportunity to leave behind its current state and transform into something new. Its current state, marked by several zeroes in the token indices, exists prior to the launch of Shibarium.
However, with Shibarium’s launch, SHIB may evolve into a token with practical applications and burning capabilities.
As such, Shiba Inu’s history could be divided into two periods: “Before” and “After” Shibarium, much like the division of time into “BC” and “AD.”
The primary objective of Shibarium, a layer-2 network, is to eliminate the excess zeroes through continuous token burns. Shibarium has the potential to function as a perpetual burning machine that can operate around the clock, reducing the number of tokens in circulation.
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At present, third-party burns for Shiba Inu average around 1.5 million per day. However, with an in-built burn mechanism, Shibarium has the potential to surpass these third-party firms and accelerate token burns. As a result, the layer-2 network is anticipated to pave the way for brighter prospects for the token.
Shibarium’s Burn Mechanism: How it Could Propel Shiba Inu to $0.01
The team behind Shiba Inu has confirmed that the layer-2 solution, Shibarium, will burn tokens with every transaction on the network. This means that each time a user initiates a transaction on Shibarium, SHIB tokens will be removed from circulation. As transaction volume increases, the number of burns is expected to rise significantly.
As a result, the “After” Shibarium era presents greater opportunities for Shiba Inu to reach the $0.01 price point than any time before. Investors who entered the market “Before” Shibarium may have better chances of seeing their portfolios appreciate in value.
Currently, Shiba Inu is trading at $0.00000996, up 1.1% in the last 24 hours. However, it is down 88.40% from its all-time high of $0.00008616, which was achieved in October 2021.
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