Shiba Inu (SHIB) stood out with the sharing of key details about the upcoming launch of the Shibarium Token Burn mechanism, distinguishing itself from other significant developments in the crypto world. This situation led to an increase in the price of SHIB.
Shiba Inu Team Provides Update on Shibarium Token Burn Mechanism
A leading member of the Shiba Inu team, Ragnar Shib, made an announcement regarding the delayed launch of the Shibarium Token Burn mechanism, which is in beta on the test network Puppynet. This announcement increased interest among the altcoin’s investors.
The team emphasized that discussions about the January launch could have caused some confusion, but the matter had already been clarified in The Shibmagazine. It was noted that the mechanism is rapidly evolving in the test phase on Puppynet and is being prepared for significant participation in the crypto world.
The Shibarium Token Burn mechanism is currently in the testing phase and, if everything goes as planned, it will be quickly implemented on the main network. The Shibarium Token Burn mechanism is a transformative feature aimed at improving Shiba Inu’s economic model and strategically reducing the token burn process. The success of the mechanism on the testnet Puppynet will shape its launch on the main network.
SHIB’s Price Increases
On the other hand, the price of Shiba Inu’s SHIB has risen following the announcement about the launch of the Shibarium Token Burn mechanism. This situation led to additional speculation among investors of the leading memecoin. At the time of writing this article, SHIB’s price has increased by 0.44% in the last 24 hours, trading at $0.000009101. Additionally, the altcoin’s price has seen a 0.72% increase over the weekly period.
While the steady increase in the token burn rate of Shiba Inu continues to support the recent upward momentum, the launch of the Shibarium Token Burn mechanism is expected to significantly boost this momentum.
