The lead developer of Shiba Inu, Shytoshi Kusama, has addressed the community's misconceptions about the role of token burns in the success of SHIB. This comes after criticism from users who believed burns were essential for driving SHIB's demand. Kusama pointed out that while burns may attract investors, Shiba Inu's growth is not solely reliant on them. He emphasized the importance of a holistic strategy, including increased utility, partnerships, and a complete ecosystem featuring the Shibarium blockchain. Kusama also responded to doubts about Shibarium's impact on reducing SHIB's supply, stating that the price of SHIB has tripled since Shibarium launched on the mainnet. He used the analogy of McDonald's success to explain that SHIB's growth cannot be attributed to a single factor like Shibarium alone. Shibarium has facilitated the burning of over 56 billion SHIB tokens since its launch and has removed over 300 million SHIB from circulation through the burn portal. Overall, Kusama believes that SHIB's success is driven by a combination of factors and not just token burns.
- Content Editor ( thecryptobasic.com )
- 2024-12-09
Shiba Inu Lead Addresses Misconceptions About the Role of Burns to SHIB Success