This is why Shiba Inu’s Burning Strategy was able to generate record profits in February

Shiba Inu, known for his playful approach to the world of cryptocurrencies, is back in the spotlight. This time, the focus is not just on the nature of the coin game, but also on a strategic initiative that could have a dramatic impact on SHIB’s future. Learn how the Shiba Inu team is working with the community to drive token burns and influence market dynamics.

Shiba Inu accelerated combustion initiative

The Shiba Inu community has played a central role in recent efforts to reduce the number of SHIB tokens. This process, called ‘token burning’, is fundamental to the coin’s health and potential. Burning coins helps limit supply, which in turn can affect market value. In this sense, the Shiba Inu team is committed to using the fees generated in the Shibarium ecosystem for this purpose.

The fundamental role of owners

A prominent figure from the Shiba Inu team, Da Vinci, points this out the crucial role the SHIB holder in this process. By actively participating in the Shibarium network and generating the resulting fees, holders can directly contribute to the destruction of tokens. This means that the community itself can influence the speed and effectiveness of the combustion process.

There is a reason why ‘a simple eviction is not enforced’. It is a responsibility and obligation for the entire ecosystem. Anyone who says otherwise in a volatile market is ignorant and doesn’t care.

Red = Lack of demand
Green = High demand

Burning red has NO EFFECT. A lot of… pic.twitter.com/hftGFm7K2x

-????????????????????? | ✨Shib.io✨ (@LucieSHIB) December 18, 2023

Fraud alert

In a recent statement, the team also warned against individuals who encourage others to burn their own money. These practices are considered fraudulent and are in stark contrast to the recommended method of using the Shibarium network.

The influence of time on token burning

Marketing manager Lucie provides information about the time of the combustion. The team consciously chooses to burn tokens when the market price rises. This strategy is intended to have a more positive impact on SHIB’s market value, as opposed to burning tokens during a recession.

Current successes and future plans

So far, the Shiba Inu team has carried out two major destructions, destroying more than 8 billion tokens each time. With the total fees generated in the Shibarium ecosystem exceeding $1.2 million, more damage is expected. Lead developer Shytoshi Kusama confirmed that the profits will be used for future SHIB burns.

In the last 24 hours there were a total of 1,019,670 $SHIB Token burned and 2 transactions. Visit https://t.co/t0eRMnyZel to see the total #SHIB burned tokens, circulating supply and more. pic.twitter.com/VZxCA4nrkp

–Shibburn (@shibburn) December 20, 2023