One of the most passionate communities in the digital asset industry, and a burn rate that is immensely vital to its continued adoption. Yet, Shiba Inu developer Shytoshi Kusama has recently stated that the burn rate isn’t enough while promising future moves that will “solidify our dominance.”
The statement arrives via the developers’ Telegram chat. Moreover, it coincides with an increase in burn rate in recent weeks that has not quite impacted the Shiba Inu price. Conversely, Kusama says the community is “not even close” to reaching the burn numbers required to impact price.
SHIB Burn Rate’s Upward Trend
There are few communities as strong as the SHIB Army, and few meme coins as immensely popular. Subsequently, for the growth and adoption of that digital asset, the asset burn rate becomes the most important factor in its development.
In recent weeks, the Shiba Inu burn rate has shown pretty impressive movement. Specifically, Bitcoinist reported that March observed 6.78 billion SHIB tokens burned in 540 transactions. Additionally, the number was a massive increase from previous months. Comparatively, February saw only 352 million SHIB burned in 128 different transactions.
Alternatively, the upward trend of the burn rate has not yet affected the price of the asset. Conversely, this reality was brought to the attention of Shytoshi Kusama, who presented a unique perspective on the matter.
Kusama Says Burning Not Enough
Although the burn rate has taken center stage in the actions taken by the community, Kusama holds firm to the reality that it simply isn’t enough. Specifically, when addressing the matter in a Telegram chat, Kusama didn’t hold back on what could propel the meme coin.
In his response, Shiba Inu’s lead developer, Shytoshi Kusama, stated that the burn rate is simply not enough while promising new tech and future utilities. Moreover, he stated that the future moves would “solidify our dominance.”
Specifically, Kusama told users that “we are not even close to touching the number of burns needed to move Shib based on BURNS alone.” Furthermore, Kusama remarked, “That’s why we must introduce new technologies and utilities and grow the ecosystem and adoption. When you understand that, you see why our past moves are vital and our future ones solidify our dominance.”
This prospective growth of the Shiba Inu ecosystem has already been put into motion by the developer. Specifically, through the release of the highly anticipated Shibarium beta. Subsequently, presenting a growing utility for the meme coin and establishing a more solid ecosystem that will support and increase the vital burn rate
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