- The Shibarium Network has unveiled plans for a major hard fork upgrade aimed at increasing SHIB token burns.
- This upgrade is expected to diminish SHIB supply, potentially raising its value, and improving network sustainability.
- Since the announcement, SHIB’s price saw a 6% increase, reflecting growing optimism in the community.
Discover how Shibarium’s hard fork upgrade aims to enhance SHIB burns, bolster the ecosystem, and potentially raise SHIB’s value.
Shibarium Network Announces Hard Fork to Boost SHIB Burns
The Shibarium Network has announced the release of a significant hard fork upgrade, the Bor v1.1.2-bone version, designed to enhance the burning mechanism of the SHIB ecosystem. With the majority of transaction fees being allocated to token burns, this upgrade has captured the community’s attention and ignited excitement around potential price increases. The marketing lead highlighted this development on social media, further fueling the buzz.
Strategic Focus on Deflationary Measures
According to LUCIE, Shibarium’s marketing lead, 70% of all base transaction fees will be converted to SHIB tokens and permanently removed from circulation. This deflationary strategy aims to decrease the overall supply of SHIB, intending to increase its value over time. The remaining 30% of the fees will be used for platform development and other initiatives, reinforcing the network’s infrastructure and long-term sustainability.
Positive Market Reaction and Community Sentiment
The upgrade has already had a tangible impact on the market, with SHIB’s price increasing by 6% following the announcement. This rise in value signals growing confidence among investors and the community in the potential success of the hard fork. Many are now closely watching the implementation to see how it will affect SHIB’s long-term market dynamics. As of the latest updates, SHIB is trading at $0.00001371 with a trading volume of $282.23 million, offering a glimpse of its potential to reach new highs.
Conclusion
This hard fork marks a pivotal moment for the SHIB ecosystem, with a dual focus on deflation and infrastructure enhancement. By tying a substantial portion of transaction fees to token burns, Shibarium aims to create a more sustainable and valuable environment for SHIB. As the community awaits the hard fork’s rollout, the positive market response underscores its potential to drive significant changes in SHIB’s valuation and appeal.
