The pseudonymous marketing lead of the SHIB team, Lucie, has sent a harsh critique at those token makers who burn coins just for the sake of promoting their own products. She clearly talked about SHIB burns.
Lucie also proposed two key ways as to how anyone could support their own tokens without using the name Shiba Inu.
Lucie has poured criticism over initiatives of third parties to burn SHIB and brag about that to promote their own tokens not related to SHIB whatsoever. Lucie has called it “the biggest crypto nonsense” she has ever seen and that is, “using an unknown s*coin to burn your favorite asset.”
She suggested that if any third-party team that has made its own token want to support it, they should “burn directly or just buy more.” The SHIB executive underscored the importance of burning tokens consistently on a daily basis. Otherwise, she said, it will not work: “Without proper, persistent daily burns, it’s all nonsense.”
Such huge burns took place earlier this year and at the end of 2024 as well, according to U.Today reports. In March, two mammoth burns helped to remove one billion SHIB each, and they were performed by the team behind the meme coin CENT. In November last year, an anonymous leader of the SquidGrow meme coin, @Shibtoshi_SG, also burned a couple billions of SHIB.
Lucie addressed ChatGPT with a question if she is right or biased on this token burn issue. The OpenAI-produced chatbot agreed with her. The bot’s reply was: "Burning your favorite asset by buying an unrelated, unknown 'burn' token is just a gimmick and – often a trap."
The bot continued, saying that if a project wants to support burns of their token, they should “burn them directly from their own supply or revenue,” incorporate automatic and transparent burning mechanisms, or let their community contribute to those burns in a trackable way.
Data shared by the Shibburn tracker reveals that over the past 24 hours, the joint efforts of the Shiba Inu community have helped to remove a total of 28,793,847 SHIB from the circulating supply.
Still, the burn rate rise is less than significant, totaling just 1.76%.
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