Shiba Inu News: Shibarium Reveals Major Hard Fork Upgrade To Boost Token Burn

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As a seasoned crypto investor with a knack for identifying potential winners, I find the recent Shibarium Network upgrade announcement intriguing. With over a decade of experience in this volatile market, I’ve seen my fair share of hype and letdowns, but the strategic move towards token burn via transaction fees is something I haven’t encountered before.

Shiba Inu News: Shibarium Network has just announced plans for a significant upgrade through a hard fork, aimed at increasing token burns. This latest version primarily targets improving the burning mechanism within the ecosystem, causing excitement among SHIB enthusiasts. The marketing head of the meme coin has praised this recent development in a Reddit post, and the SHIB price has seen a rise of approximately 6%.

Shiba Inu News: Shibarium To Introduce Major Upgrade To Boost Token Burn

According to the recent updates in Shiba Inu News, Shibarium is set to debut the long-awaited Bor version v1.1.2-bone enhancement on August 9. This update introduces a novel burn mechanism linked to transaction fees as part of its design. This significant step represents an important achievement for the SHIB community.

Lucie, Shiba Inu’s marketing head, stated that about 70% of every transaction fee on our network will be transformed into SHIB tokens and then destroyed permanently. This move aims at decreasing the total SHIB supply, a strategy that could potentially boost its worth in the long run due to scarcity.

As a researcher, I’m excited to share that 30% of the transaction fees will be designated for platform development, upkeep, and crucial initiatives moving forward. This dual strategy aims to fortify our network’s infrastructure. Furthermore, this upgrade aligns with our community’s commitment to long-term sustainability and value enhancement.

Market Impact Of The Announcement

The news has ignited a wave of positivity among Shiba Inu enthusiasts, clearly shown through the coin’s rising value. It seems that believers in this meme-based currency are hopeful about the token’s future and the expansion of its broader network.

Significantly, incorporating a ‘burn’ feature tied to transaction costs in the cryptocurrency is perceived as a tactical decision aimed at fostering a deflationary ecosystem. This mechanism could also entice additional investors, potentially strengthening the currency’s future value over time.

Anticipation runs high within the community as we approach the scheduled hard fork later in the week. The primary concern now revolves around understanding how this update might impact the token’s market trends. At present, the SHIB price has surged by approximately 6% to reach $0.00001371, although its trading volume has dipped around 7% to $282.23 million. A recent Shiba Inu price study suggests that if specific conditions are met, the token’s price could potentially rise to $0.000018.

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2024-08-09 00:22