Starting in January 2024, the Shibarium team announced that it would change the burning system that Shiba Inu has. Until last December 2023, the burning of the SHIBA memecoin was manual. Now, things change, the burning will be automatic and will significantly reduce the amount of tokens in circulation.

Now, I invite you to reflect. Whether you have SHIBA in your wallet or are thinking of buying it. I want you to remember that burning a token is normally useless. They don't drive the price. What drives the price is the hundreds of news stories that spread across the internet that make us believe that burning more tokens will therefore increase the price. Which is not working with Shiba Inu either.

It doesn't happen like that. This depends on the demand, on the need to have this or that asset. Something that Bitcoin does have, for example. He has more than earned it. People want to own Bitcoin because they know that with each passing day there is less of it for the average buyer. The idea that it is scarce, will become scarcer and the benefits that people who have Bitcoin will have in the future is present in many crypto investors and crypto traders. An idea, mind you. Just an idea.

This idea has not yet been minted in Shiba and many similar tokens. It doesn't matter if you make giant burns, as long as people don't want to buy it we won't see an increase in the price. What's more, in the case of Shiba Inu we are talking about 589 trillion tokens in circulation. More than 240 trillion have already been removed from circulation, but there is still a long way to go before breaking the trillion limit.

I continue to see a multitude of messages and banners on social networks celebrating that 30 million tokens, 27 million, 41 million have been burned... As if it were a lot.

Shiba burns this year will be larger but will not be significant compared to its price. What will truly drive this coin higher is FOMO. Many content creators and publicists releasing news, rumors, hoaxes and who knows what else. The thing is to create an idea in our mind that you have to have Shiba, that you have to buy it because otherwise you will not become a millionaire.

Too much mouse for one cat I would say. Much more needs to be done for this meme to exceed current expectations, which are low, frankly.