Shiba Inu, a popular meme coin in the global crypto market, recently sparked speculation and excitement among its community with the announcement of its upcoming Shibarium Burn mechanism. Ragnar Shib, a prominent member of Shiba Inu’s team, clarified the delayed launch of the mechanism, which had been previously reported to occur in January. While the project is currently being tested on the ecosystem’s Puppynet, the team is preparing for its official launch on the Mainnet.
The Shibarium Burn mechanism aims to improve Shiba Inu’s economic model by implementing a token-burning process that will strategically reduce its circulating supply. This process will be automated on the Puppynet during testing, with plans to be fully integrated on the Mainnet in the future, pending successful functionality during the initial phases.
Despite the delay in the launch of the mechanism, the Shiba Inu price has seen a slight increase of 0.44% in the past 24 hours and 0.72% over the week. This recent surge is believed to be fueled by the anticipation of the Shibarium Burn mechanism and its potential impact on the token’s value.
In summary, Shiba Inu’s community is eagerly awaiting the launch of the Shibarium Burn mechanism, which is expected to have a significant impact on the token’s economic model. The delay in its launch has not deterred the token’s upward momentum in the market, and traders and investors continue to show interest in the token’s potential.