The warnings from Shiba Inu’s official marketing officer have garnered attention in the crypto community. Lucie highlighted the opportunities and risks of cryptocurrencies and decentralized finance (DeFi), and also highlighted the importance of self-custody methods.
In a recent X post, Shiba Inu’s marketing leader Lucie warned not only the SHIB community but all crypto followers around the world to be careful. She highlighted the vast opportunities and potential risks that cryptocurrencies offer, noting that while some individuals can make huge profits or build wealth that will last for generations, others can suffer serious financial losses. Lucie highlighted the importance of decentralized finance (DeFi) and the need to store digital assets in cold wallets and control private keys.
Lucie’s message resonated with the crypto community, highlighting the dual nature of crypto investments. While crypto assets offer the promise of extraordinary returns, market volatility and inherent risks can cause some investors to experience major financial losses. Lucie advocates for an approach in the crypto world that emphasizes security and control over investments, encouraging the advocacy of self-custody. This approach is seen as a fundamental way to protect the integrity and potential returns of crypto assets.
As previously reported, the Shiba Inu development team is preparing for a major update to the Shibarium network. This update includes an automatic burn mechanism that includes a new version of Bor, one of the core components of Shibarium. This mechanism aims to systematically remove Shiba Inu coins from circulation. According to the proposed mechanism, 70% of transaction fees on Shibarium will be converted into BONE tokens and then burned by sending them to unspendable blockchain wallets. This move could potentially increase the value of SHIB by significantly reducing its total supply.
The introduction of the automatic burn system is considered a significant development for the Shiba Inu community, aiming to increase the sustainability and long-term value of the network. This mechanism will replace the current manual burn process, allowing for a more efficient and continuous reduction of the SHIB supply. After the last burn, where over 105 million SHIB coins were removed from circulation in one day, community members are hopeful that this move will have a positive impact on the token’s value. This dynamic change aims to create a deflationary effect, in line with the Shiba Inu project’s broader decentralized finance (DeFi) goals.
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