The Shiba Inu community has expressed disappointment with the estimates provided by SHIB BPP regarding the burning of tokens on the upcoming Shibarium layer 2 protocol. According to one respondent, burning 500 billion SHIB annually would take 100 years to burn 5% of the total supply and 1000 years to burn 50% of the tokens.

Some community members speculated that SHIB BPP's post may contain errors since Shibarium developers had earlier claimed they would burn 111 trillion SHIB annually. Despite being yet to fully launch, the Shibarium network is gaining traction in the cryptocurrency ecosystem, with a significant increase in the number of wallets participating in transactions on its testnet. PuppyScan data shows that 13,856.413 wallets are currently interacting with the testnet, and 446,449 Shibarium beta transactions have been recorded across the same number of blocks.

Several new projects, including MzeDex, have recently decided to build on Shibarium, contributing significantly to the growth and adoption of the upcoming project's network.

Although the community views this as a positive sign, the Shiba Inu team is urging users to exercise caution and conduct proper research before engaging with these projects. Shytoshi Kusama, a team leader in the Shiba Inu community, has reportedly cautioned users about potential scams, emphasizing that the Shibarium network has not yet minted an official token.

Sources:

https://www.investing.com/news/cryptocurrency-news/shibarium-to-burn-500-billion-shib-tokens-on-a-yearly-basis-3060598

https://coinedition.com/shibarium-to-burn-500-billion-shib-tokens-on-a-yearly-basis/

https://www.crypto-news-flash.com/shibarium-set-to-burn-500-billion-tokens-and-split-base-fees-boosting-shiba-inu-ecosystems-growth-and-sustainability-report/

https://watcher.guru/news/shiba-inu-could-shibarium-burn-500-billion-shib