Shiba Inu lead Shytoshi Kusama has stated that burning 99% of SHIB’s circulating supply is achievable but highlighted other significant price catalysts. Kusama addressed concerns from the Shiba Inu community about token burns. Responding to a question on the timeline for burning 99% of SHIB, he confirmed it is now possible. Kusama explained that while this goal seemed unattainable years ago, collaboration among various projects within the ecosystem has made it feasible.
Conditions for Large-Scale Burns
Despite this potential, Kusama emphasized that such a large burn rate requires extensive support. He mentioned that more projects, or a few major ones, must adopt Shiba Inu’s tech stack to reach the milestone.
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Kusama noted a challenge with high burn rates. Increased SHIB burns could drive up prices, making the token expensive to buy and burn. This could slow down future burn efforts. He argued that token incineration alone cannot sustain the ecosystem’s growth and urged the community to focus on broader goals.
Adoption as a Long-Term Strategy
The Shiba Inu leader stressed that adoption offers a sustainable way to boost prices and ecosystem growth. Kusama argued that creating real-world use cases would encourage users to hold rather than burn their tokens.
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Kusama highlighted efforts to improve Shiba Inu’s utility. Last week, he emphasized that mainstream adoption could attract centralized exchanges and increase SHIB’s value. He also pointed to new features like liquid staking as steps to enhance the ecosystem.
The burn question followed Kusama’s recent call for topics to address in his podcast. He uses this platform to tackle pressing community concerns, ensuring transparency and engagement. By focusing on adoption and real-world use cases, Kusama believes the Shiba Inu ecosystem can thrive without relying solely on token burns.
