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Burning tokens / coins is becoming an increasingly popular tool among crypto projects. When coins are burned (destroyed or withdrawn from circulation), the supply is reduced. The decrease in the number of coins increases the price and benefits the investors.
Shiba Inu, the second largest meme coin by market capitalization, is expected to undergo massive incineration in the coming weeks. While Shiba Inu is no stranger to deflationary techniques, the move should be the largest in the chain’s history.
Shiba Inu founder Ryoshi explained that the incineration would prepare the network for a major project. In particular, The Shiba Inu Core Devs team is working on the creation of the Shiba Inu metaverse called Oshiverse:
We are working on many aspects of Shiba Inu including Shibarium, Shi, Shibanet, Shiboshi decentralized game, incubator and more …
According to Shitoshi Kusama, one of Shiba’s lead developers, the project seeks to shift its focus to blockchain gaming. Dubbed the Future of Games, the project is believed to be a game changer in the industry.
It is being helped by game developer and former vice president of technology at Activision, William David Wolf, to create a game that should be better than other metauniverses. The game will be built on the second level Shibarium network, the development of which has not been completed yet.
The creation of the metaverse will increase the number of use cases for Shiba Inu, which will help the SHIB price resume growth.
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