- The SHIB community awaits burns from Shibarium gas fees on December 14 to 16, boosting bullish sentiment.
- Kusama confirms only SHIB burns using Shibarium fees, dismissing the BONE token burn proposal.
- The previous Shibarium-powered burn of 8.2 billion SHIB tokens likely influenced short-term prices, raising anticipation.
The Shiba Inu (SHIB) community finds itself on the edge of its seat as the eagerly awaited dates for SHIB burns utilizing Shibarium gas fees, December 14 through 16, draw near. This anticipated event has sent waves of bullish sentiment through the community.
Addressing the community’s expectations, Shytoshi Kusama, the lead developer of Shiba Inu, confirmed that the burns would exclusively focus on reducing SHIB tokens using the gas fees accrued on Shibarium. This assertion quashed proposals for burning BONE tokens alongside SHIB, emphasizing a singular focus on reducing SHIB’s supply.
Interestingly, the previous Shibarium-powered burn, which obliterated 8.2 billion SHIB tokens, appears to have played a pivotal role in influencing short-term price movements. The substantial reduction in token supply following this burn heightened anticipation among investors and holders alike, contributing to a surge in enthusiasm for the upcoming burn events.
The community’s enthusiasm is not unfounded. The strategic execution of these burns, aimed at decreasing the token supply, is anticipated to increase scarcity, potentially bolstering the dynamics of SHIB’s price. Previous instances have demonstrated how such actions can create positive sentiment among SHIB holders, potentially leading to a surge in price as scarcity intensifies.
As the dates for the scheduled burns approach, the SHIB Army remains optimistic, hopeful that these deliberate reductions in token supply through Shibarium gas fees will act as a catalyst, propelling the price of SHIB tokens upward.
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