Shibarium Set to Begin Burning SHIB Tokens in January 2024

• Shibarium Layer-2 Network to Initiate SHIB Token Burns from January 2024
• Anticipation Builds for Trillions of SHIB Tokens to be Removed from Circulation
• Shibarium Burn Mechanism to be Fully Operational from January 2024
• First Burn Process to Go Live After Collection of $25,000 in Total Fees
• Will Burn Events Influence SHIB's Price?

Shibarium Layer-2 Network to Initiate SHIB Token Burns from January 2024

The Shibarium layer-2 network has confirmed its plan to commence the burning of SHIB tokens starting January 2024. The tokens set to be burned will be directed to the dead wallet, effectively eliminating them from circulation. This approach aims to reduce the circulating supply of SHIB tokens, leading to enhanced scarcity of the token.

Anticipation Builds for Trillions of SHIB Tokens to be Removed from Circulation

The Shibarium burn mechanism is set to be launched for the first time later this year. Much excitement surrounds this development, as SHIB investors are eager to witness trillions of tokens being removed from supply. As more burn events take place on Shibarium, the prospects for SHIB's performance on the charts in the upcoming months look promising.

Shibarium Burn Mechanism to be Fully Operational from January 2024

The highly-anticipated burn mechanism will be fully operational from January 2024. The Shibarium network collects fees from users initiating transactions, and these funds will be earmarked for burning SHIB tokens. Of the base fees collected, 70% will be designated for the removal of Shiba Inu$0.000010 -2.05% tokens from circulation, while the remaining 30% will be allocated towards the maintenance of the network.

First Burn Process to Go Live After Collection of $25,000 in Total Fees

The network will commence burns after it accumulates a total of $25,000 in fees from users. Upon reaching this amount, the first burn process will be triggered. The specific number of tokens to be sent to the dead wallet, however, remains undisclosed. The team will provide further details in January.

Will Burn Events Influence SHIB's Price?

In summary, numerous burn events are expected to support SHIB's sustainable price increase over the years. A significant goal for investors is seeing the token reach the $0.01 milestone. As to whether the burn events can aid in achieving this target, time will provide the answer.

Edited by Jonathan Stoker