Shiba Inu lead developer suggests AI Pivot after 80M SHIB Burn
The SHIB token burn rate has seen an impressive increase of nearly 60% in the last 24 hours, burning approximately 80 million tokens. This significant increase in burn activity follows speculation that memecoin's focus may shift to artificial intelligence.
According to SHIB data, 81.2 million SHIB tokens were burned in the previous day.
Over 80 million SHIB were burned.
Most of the 79,127,027 Shiba Inu tokens were burned in one transaction and deposited into a dead wallet. The other four transfers were for less than 2.5 million Shiba Inu tokens, according to Shiburn's dashboard.
The burning incident did not significantly affect the price of SHIB. memecoin is down 0.61% in the last 24 hours and over 5% in the last week. SHIB was trading at $0.000008515 at press time, according to BeInCrypto data.
Token Burs typically aim to reduce coin circulation. A decrease in supply could theoretically lead to a shortage, which could drive up prices if demand is constant.
The Shibburn dashboard indicates that the Shib Army has burned 410.6 trillion SHIB tokens since implementing the burning method. This brought the supply down to 589.3 trillion at the time of writing.
Is the Shiba Inu about to enter AI?
There is speculation among market observers that the Shiba Inu ecosystem may be considering a shift to artificial intelligence. This concept stems from recent feedback from stakeholders in the meme coin ecosystem.
In the year On November 18, lead developer Shitoshi Kusama gave a brief comment in response to former Coinbase Chief Technology Officer Balaji Srinivasan's advice on decentralizing the AI industry.
Shiba Inu market specialist Lucy further speculated:
“Decentralized AI is like a symphony of minds working together, each note contributing to the creative melody, no single leader, just harmonious collaboration.
If the Shiba Inu gets into AI, it will fit in with its efforts to transform into a versatile blockchain network. In particular, the ecosystem has achieved significant milestones with the successful introduction of Shibarium, a layer-2 scaling solution, and the recent launch of SHIB's identity on the blockchain.
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