Shibarium News of rising gas prices has been around for a while. Details of this news appear in the data of the Shibburn burn tracker. output.
You may have noticed that our previous estimate on Shibarium wasn’t too far off based on the average fee at first, until yesterday when the tracker calculated blocks from last week. The transactions during that time, especially around September 12 and 13, had significantly higher… pic.twitter.com/MIrslUbo7r
NEWS CONTINUES BELOW— Shibburn (@shibburn) September 22, 2023
Shibburn acknowledged that his initial estimate of BONE fees on the Layer-2 blockchain Shibarium was “not too far off based on the initial average fee” provided when he first shared the link on the X app page.
However, last week’s calculation of blocks on September 21 attracted attention. Newly obtained data showed that much higher than normal gas fees were used at Shibarium, especially for transactions made on September 12 and 13. Some of these reached as high as 60%-70% of the 20,000,000 gas limit allowed.
Shibburn noted that his calculation takes into account all transactions on the Layer-2 network, and since most of them pay much lower gas fees, the two-day gas estimate mentioned above remains high.
The official marketing specialist for the SHIB team, known by the nickname Lucie, warned the SHIB community that gas fees could increase as soon as the Shibarium user base expands greatly with usage. However, this way Shibarium will help cremate Shiba Inu coins even better as more BONE will be allocated from SHIB cremation fees. So far, 0.5 BONE has been saved from cremation fees.
Shibburn found that 182,336,616 SHIB tokens were burned in the last 24 hours through the collective effort of the Shiba Inu community. This increased the burn rate by almost 40%, according to data provided by the Shibburn website.
