CandleFocus Shiba Inu Team Confirms Over 300M SHIB Burned by Shibarium Burn Portal Amid Concerns
2024-11-30
Author: Content Editor
The Shiba Inu ecosystem has confirmed that the Shibarium burn portal, known as Shib Torch, is still operational despite concerns from the community. Kaal Dhairya, one of Shibarium's developers, reassured the community that over 300 million SHIB tokens have already been burned since the platform's launch. Concerns were raised when a community member questioned the lack of updates about the auto-burn feature promised for January 2023. Dhairya clarified that the burn portal has been working for months and mentioned burning over 80 million SHIB recently. He also stated that the team is exploring ways to make the burn process more efficient, including the potential use of CCIP. Despite the concerns, data from Shib Torch confirms that over 361.9 million SHIB tokens have been burned since its launch. The Shiba Inu team plans to integrate more efficient mechanisms within Shibarium to reduce SHIB's circulating supply and enhance its long-term value.
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