As a seasoned crypto investor with over a decade of experience under my belt, I find myself deeply moved by Lucie’s recent address to the global cryptocurrency community. Her words resonate profoundly as they reflect the very essence of this wild and unpredictable world we inhabit.
Lucie, the marketing head for Shiba Inu, recently published a post that reached beyond just the Shiba Inu community and extended to the entire global cryptocurrency community at large.
Lucie delivered a broad cautionary statement that encompassed not only Shiba Inu (SHIB), but also the broader scope of cryptocurrencies and their potential global impacts.
Lucie addresses crypto holders with warning
The leader of the Shiba Inu team emphasized the vast opportunities offered by cryptocurrencies, describing them as “boundless” or “innumerable.”
As a researcher delving into the world of cryptocurrencies, I cannot stress enough the diverse outcomes this digital frontier may present. While some individuals stand to potentially amass significant returns, even generating “generational wealth,” others might unfortunately see their investments dwindle and their funds vanish. Ultimately, it is crucial to remember that the choice, the potential gains and losses, rests in your hands. Make informed decisions wisely.
According to her tweet, it’s decentralized finance (DeFi) and keeping your cryptocurrency in offline wallets (cold storage) that offer a multitude of opportunities, giving you complete control over your assets through self-custody.
Shiba Inu burn mechanism coming
According to U.Today’s previous report, the Shiba Inu (SHIB) team has hinted at an upcoming hard fork on Shibarium, which will introduce a revised version of Bor, one of Shibarium’s key components. This significant network update will also include the much-anticipated burning mechanism to eliminate SHIB tokens from circulation.
The developer team previously hinted at an automated burn function for SHIB tokens back in January’s blog post. This new mechanism will shift the burning process from manual to automatic. Specifically, 70% of transaction fees on Shibarium, paid in BONE tokens, will be instantly converted into Shiba Inu coins and then transferred to unreachable digital wallets within the blockchain, effectively removing them from circulation.
On Thursday, the Shiba Inu (SHIB) community successfully burned over 105 million SHIB tokens, significantly increasing the daily burn rate by approximately 140,000 times, as indicated by data from Shibburn.
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2024-08-09 17:21