Shiba Inu Releases Hard Fork To Strengthen SHIB Token Burning Mechanism

Shiba Inu meme token. (Photo; Doc. CoinMarketCap)

JAKARTA - The Shibarium Network, which supports the Shiba Inu (SHIB) ecosystem, has just announced a major update via a hard fork with the name Bor version v1.1.2-bone. This step was greeted enthusiastically by the SHIB community and has pushed the token price up to 6 percent.

This update aims to strengthen the token combustion mechanism, which is expected to reduce the total supply of SHIB and increase the value of the token in the crypto market.

In its official statement, the Shiba Inu team explained that this update will introduce a new mechanism, in which 70 percent of all transaction fees collected on the network will automatically convert into SHIB tokens and then be permanently burned.

This effort is part of a deflation strategy designed to reduce the total supply of SHIB, with the hope that there will be an increase in token value over time. Meanwhile, 30 percent of the remaining transaction fees will be allocated for the development of platforms, maintenance, and other key initiatives, aimed at strengthening network infrastructure.

Optimism among Shiba Inu fans is increasing, as they believe that the token burning mechanism related to transaction fees will create a more deflational environment for SHIB. This is expected to attract more investors and support the overall growth of the Shiba Inu ecosystem.

At the time of writing, the price of SHIB has jumped nearly 6 percent to 0.00001371 US dollars (approximately Rp0.21), although trading volume has decreased by about 7 percent to US$282.23 million (approximately Rp4.3 trillion). Analysts predict that the price of SHIB could reach 0.000018 US dollars (approximately Rp0.28) if market conditions are favorable.

This update is scheduled to be implemented this week, with the SHIB community paying attention to the impact it may have on SHIB's market dynamics going forward. This move is also considered part of a long-term strategy to create a more sustainable and valuable ecosystem for SHIB.

By reducing the total supply of tokens through the combustion mechanism, the Shiba Inu team hopes that the SHIB value will continue to increase, attract more investors, and strengthen SHIB's position in the global crypto market.

The SHIB community welcomes this announcement, with many optimistic parties that this hard fork will support the overall growth of the Shiba Inu ecosystem. The mechanism for burning tokens introduced is considered an important strategy in creating a more deflational environment, which is expected to increase the long-term prospects for SHIB tokens.

With the implementation of this hard fork, the attention of the crypto community is now focused on how this update will affect the SHIB market in the future.

The SHIB price, which has shown a nearly 6 percent jump to 0.00001371 US dollars (approximately Rp0.21), gave a positive signal, although trading volume has decreased. Recent analyses show the possibility of SHIB prices hitting US$0.000018 (approximately Rp0.28) if these updates succeed in attracting more investors and creating strong momentum in the crypto market.