Shiba Inu Lead Dev Suggests 99.9% SHIB Token Supply Burn

• Shytoshi Kusama suggests cutting SHIB supply to 0.1%.
• SHIB community reacts positively to potential token reduction.
• Token scarcity could increase SHIB’s value.

The lead developer for the Shiba Inu crypto initiative, Shytoshi Kusama, made a comment that sparked widespread community conversation. Kusama mentioned the possibility of reducing the circulating supply of Shiba Inu to a mere 0.1 percent of its current amount. This remark has led to a flurry of discussions and conjectures among investors and enthusiasts of the digital currency.

The existing supply of SHIB tokens in circulation is 580 trillion. Implementing this concept would result in a considerable shift. Kusama’s statement was in response to a sarcastic suggestion from a critic to eliminate 99.9% of SHIB tokens, potentially using funds from Shibarium transaction fees.

Difficult Task

Many members of the Shiba Inu community have reacted positively to Kusama’s bold statement. A significant number of SHIB supporters are looking forward to the potential elimination of a large number of tokens. A common sentiment among the community is a hopeful anticipation that the SHIB’s value will increase following substantial reductions in its supply.

Despite the challenges, Kusama has argued that achieving this goal is not unattainable. However, achieving such a significant reduction takes time and effort. It would require a carefully orchestrated and extensive removal of tokens from the market to eliminate 99.9 percent of SHIB’s total supply. The SHIB development team has previously conducted token burns, but these were on a smaller scale.

Hypothetically, the value of SHIB tokens could rise as their scarcity increases from a reduced supply. As per CoinMarketCap, SHIB’s trading price is $0.00001103, representing a 1.17% increase over the past 24 hours.