Shiba Inu Lead Developer Says Burn Portal In The Works As 9.2M SHIB Burned In Single Day: 'We Absolutely Must Increase Adoption'
Portfolio Pulse from Mehab Qureshi
Shytoshi Kusama, the lead developer of Shiba Inu (CRYPTO: SHIB), confirmed the development of the Burn Portal for the Shibarium protocol. The burn portal is significant as it permanently removes cryptocurrency tokens from circulation, potentially leading to scarcity and an increase in value. Over 9.2 million SHIB tokens were burnt and permanently removed from circulation in the last 24 hours.
September 05, 2023 | 3:35 am
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POSITIVE IMPACT
The development of the Burn Portal for the Shibarium protocol and the recent burning of over 9.2 million SHIB tokens could potentially lead to scarcity and an increase in the value of SHIB.
The Burn Portal development for the Shibarium protocol and the burning of SHIB tokens are strategic moves to potentially create scarcity and drive up the demand for SHIB tokens. This could lead to an increase in the value of SHIB.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100