Shiba Inu Burn Portal Fuels Price Surge and Investor Optimism
The Shiba Inu team has confirmed that the Shibarium burn portal, Shib Torch, has successfully burned over 300 million SHIB tokens since its launch, despite community concerns about its functionality. Developer Kaal Dhairya addressed these concerns, clarifying that the platform is operational and exploring more efficient burning mechanisms. The team plans to enhance the system, potentially using Cross-Chain Interoperability Protocol (CCIP), to improve the burn process and reduce SHIB's circulating supply.
