- Shiba Inuโs executive has shared a plan to reduce SHIB supply.
- The revelation came after one user expressed frustration about the tokenโs massive supply.
- It also followed Shiba Inuโs ecosystem upgrade on September 13.
Shiba Inuโs marketing lead, Lucie, has addressed concerns about SHIBโs massive supply and revealed plans to reduce it soon.
Lucieโs comment was addressed to a user on X who urged Shiba Inu’s team to โdo somethingโ about the tokenโs large supply, noting that it was the โmajor disadvantageโ plaguing the meme coinโs community. Per CoinMarketCap data, SHIB has a circulating supply of 589.27 trillion coins.
The SHIB Burn Strategy
In the X post, Lucie told the user that Shiba Inu developers could not change the tokenโs supply from their end because no one has control over its keys, which Ryoshi burned. The marketing lead explained that SHIBโs supply could be reduced if users bought and burned the tokens.
Sponsored
โHereโs the exciting part: to really reduce the supply in a big way, we need millions (even billions) of users! The plan is to build an epic system that brings in tons of people, using SHIBARIUM every day. The more users we have, the more SHIB can be burned, making it more valuable over time,โ the post read.
Noting that it required money, Lucie cautioned that this strategy could only work if โeveryone gets on board.โ
Lucieโs comment came after Shibarium, the Layer-2 scaling solution for the Shiba Inu ecosystem, underwent a significant upgrade on September 13 to bolster its performance, security, and scalability.
Per the platformโs website, the Puppynet Bor Upgrade and Cancun Hard Fork introduced several enhancements, such as improved transaction efficiency, better disk management, enhanced cross-chain operations, compatibility with Ethereum updates, and stability in node operations.
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