SHIB Army Predicts Burns Will Rise With Release of Shibarium

Joshua Ramos
Shiba Inu is Just 2% Away From a Major Goal, What is it?
Source: Analytics Insight

The SHIB Army has made their prediction that burns of the popular meme coin will rise with the eventual arrival of Shibarium. It has been a potential release on the ledger for months, and with its impending debut, the community is prepping for an increase in burn rate.

It was an idea originally set forth by SHIB Army news @theshibdream, noting the effect of the Shibarium release. The question is, just how much will Shibarium affect SHIB burn transactions? With no insight into when the Shibarium upgrade will be unveiled, the preparations for the community are in motion.

SHIB Army Anxiously Awaits Shibarium Effect on Burns

There are few meme coins with as passionate a community as Shiba Inu. The burn rate has fluctuated this year but remained a consistent narrative with their activity. Yet, it appears the self-proclaimed SHIB Army is preparing for an increase when the newest and long-awaited upgrade kicks in.

Twitter account @theshibdream noted that the potential increase of the SHIB burns, following the arrival of Shibarium, will be a positive for its market. Moreover, the speculation of that increase is following reports that small SHIB burns hourly are occurring despite the bear market.

The cryptocurrency industry has undoubtedly seen a down year in 2022. Yet, with SHIB burns still present, and the highly-anticipated Shibarium arrival still on the horizon, there could be a jump coming. The tweet noted that the implementation of transactional burns as a mechanism will undoubtedly affect the burn rate. Especially considering the numbers previously noted.

Shiba Inu: Prominent SHIB Burner Hints at a Major Upgrade

Furthermore, it was reported by U.Today that the past 24 hours have seen 20,120,621 SHIB removed from circulation. Conversely, Tuesday saw 12,000,000 burned, proving the rate has jumped 67.43%. Yet, interestingly that same report notices an interesting burn pattern.

The publication notes that the burn rate and coin price correlate in a unique way. Whereas logic points to a cheaper coin equating to more SHIB being burned, the data shows the opposite to be true. With each price drop of Shiba Inu, the burns shrink in size. Currently, SHIB is trading at $0.000008036, which is a 2.27% drop in market cap over the last 24 hours, according to CoinMarketCap.