Shiba Inu (SHIB) is implementing a new token-burning mechanism fueled by gaming transactions as part of its strategy to enhance token scarcity and actively compete with Dogecoin (DOGE) for prominence as the ‘people’s coin’. This initiative involves specific SHIB-branded games where player transactions directly contribute to burning SHIB tokens.
Alongside driving scarcity, Shiba Inu’s marketing lead, Lucie, stated that projects within the ecosystem must generate their own revenue streams to fund ongoing development activities, clarifying that there is no centralized SHIB treasury supporting this work. This self-funding approach is seen as crucial for the network’s progress.
The move intensifies the competitive stance against Dogecoin. Market data shows DOGE currently holds the 8th largest market capitalization at approximately $35.4 billion, while SHIB ranks 22nd with a market cap of about $7.9 billion. SHIB aims to leverage its gaming ecosystem’s utility to narrow this gap, allowing players to both earn SHIB and contribute to its burning.