Rocket fuel for Shiba Inu prices: Kusama says 99% of SHIB's supply may be burned

Shiba Inu Chief Developer Shytoshi Kusama responded to inquiries about the ambitious goal of burning 99% of the circulating SHIB Token supply. Kusama initially engaged with the community by inviting questions for his podcast, saying, 'What topics or questions do you want to hear answered on my podcast? #shyspeaks.'
This participation lays the foundation for the subsequent discussion on potential Token burning strategies. LSP Finance's CFO, Zhang Fang, directly inquired about the feasibility and strategic planning of such a large-scale burning: "Please provide a schedule and roadmap for burning 99% of the circulating SHIB Tokens."
In response to Zhang's question, Kusama explained the challenges and considerations involved in destroying 99% SHIB Tokens. He admitted that such an effort was historically impossible, and pointed out, "A few years ago, destroying 99% of Shib seemed impossible, but with many projects coming together to accomplish this daunting task, it is actually achievable."
Kusama elaborates on the necessary conditions to achieve this result, emphasizing that multiple projects (especially large-scale projects) adopt the Shib technology stack to promote destruction. The chief developer of SHIB stated, 'More and more projects, or some large-scale projects, must adopt the Shib technology stack.'
Kusama emphasized several major obstacles to achieving the destruction goal. He explained that if the destruction process begins to accelerate, it may push up the price of SHIB, as investors anticipate a surge, making the destruction more expensive and slowing down the process. 'Assuming things start to spiral rise to mass destruction, people will consider the price will pump and buy. In this case, the cost of destroying Shib will be higher, thus slowing down the destruction speed,' Kusama said.
In addition, he emphasized that the strategic intention behind the burning is as important as the burning process itself. He said, 'It's not the burning itself that matters, but the intention.'
In addition, Kusama pointed out that burning Token is not the only way for SHIB to succeed. He explicitly stated that the practicality of developing memecoin is equally important, and pointed out: "Finally, destruction is not the only way for Shib to win. If I say, oh, I estimate, it will take a long time, for fudder, it is not short enough. Therefore, we have found other ways to give memecoin practicality and ensure that it spreads like a virus to the extent that people no longer want to destroy the Token."
He emphasized the importance of enhancing the utility of SHIB through mechanisms such as stake and developing new use cases for related tokens such as BONE, LEASH and Treat.
99% of the total supply of SHIB will be burned, which will result in extreme scarcity. If demand remains stable or increases, the reduction in supply may lead to a significant rise in the value of each remaining SHIB Token. This transition could potentially elevate SHIB from its current low-cost meme Token status to a more valuable asset.
However, Kusama clarified that this consumption will be a gradual process, driven by the adoption and integration of SHIB technology in various projects, which may take several years instead of an immediate reduction.
As of the time of publication, SHIB is attempting to break through the 0.5 Fibonacci retracement level of $0.00002823. This technical level is derived from the high point of $0.00004567 on March 5 and the local low point of $0.00001067 on August 5. In the short term, a successful break above the 0.5 Fibonacci level may pave the way for the 0.618 Fibonacci target of $0.00003235.
(Data Source: Jake Simmons)