- A crypto analyst believes Shibarium would inject hype into the Shiba Inu ecosystem.
- Proposed 5 Trillion SHIB burn is one major factor behind the anticipated Shiba Inu hype.
- The burning mechanism will reduce SHIB’s supply when users transact within the Shiba Inu network.
The Classy Crypto YouTube channel‘s host believes the launch of Shibarium would inject significant hype into the Shiba Inu ecosystem. He noted the ongoing developments around the Shiba Inu network as events that could influence the project’s community into generating volatility for SHIB when Shibarium launches.
The host identified the proposed burn of five trillion SHIB tokens by the Shiba Inu network as one of the main factors behind the anticipated hype. He referenced comments from the official Shiba Inu ecosystem marketing specialist, LucieSHIB, who posted the introduction of the burning mechanism on Twitter.
According to LucieSHIB, the burning mechanism will reduce the supply of SHIB when users make transactions within the Shiba Inu network. It locks the base fee on a Shibarium contract when users transact on the Shiba Inu network. While the base fee is locked priority fees will be paid to validators.
LucieSHIB explained that the locked base fee will be divided, with 70% burned, while the remaining 30% will be reserved for network maintenance. She also noted that the burn process targets incentivizing user engagement and is projected to involve five trillion SHIB tokens every month.
The Classy Crypto host believes the target is achievable over time, and the Shibarium launch would play a significant role in hyping the entire process. He noted that the launch of Shibarium is something the Shiba Inu ecosystem has been anticipating for a long time.
According to the host, the Sibarium launch would mark a significant period for Shiba Inu and could initiate a significant movement in SHIB’s price.
SHIB traded at $0.00000755 at the time of writing, trading in a sideways direction for the past three weeks.
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