Shytoshi Kusama, the lead developer for Shiba Inu, has addressed the possibility of burning 99% of the SHIB token supply. This ambitious goal requires strategic planning and adoption of the Shib tech stack by various projects.
Kusama explained that while historically improbable, the task is achievable with collaboration from numerous projects. Significant obstacles include the potential price increase of SHIB, which could make burning more costly.
He stressed that the strategic intent behind the burn is crucial and that developing utility for the memecoin is equally important. Enhancements could involve staking and creating new use cases for associated tokens like BONE, LEASH, and Treat.
Kusama noted that a 99% burn would lead to scarce SHIB tokens, potentially increasing their value. However, this process would be gradual, spanning several years through technology adoption and integration.
As of now, Shiba Inu is aiming to break above technical resistance levels to increase its valuation further.
