Shiba Inu Transaction Fees Soared 1,036%, This Is The Cause!

The cost of witness Shiba Inu jumped 1,036% (Photo; Doc. Independent)

JAKARTA - In recent days, transaction fees on Shibarium, a blockchain that is part of the Shiba Inu ecosystem, have experienced a sharp spike. According to data from Shibariscan, the average transaction fee per transaction increased by 1.036%, from 0.012 to 0.1168 BONE tokens. This spike raises various questions regarding the efficiency and sustainability of the Shibarium network.

The BONE token, which is a genuine crypto asset of Shiba Inu, has an important role in the operations of the Shibarium network. As a transaction fee token, BONE is paid whenever transactions are made on this blockchain. A small part of this transaction fee is automatically converted into a Shiba Inu token (SHIB) and sent to a burn wallet, which aims to reduce the supply of SHIB and make this crypto deflation.

According to U.Today's information, the increase in transaction costs reflects increased activity on the Shibarium network, but it also raises questions about the higher costs of using the platform. The factor that may be the cause of this increase is the emergence of applications such as pumpfun and sunpump specifically designed for Shiba Inu.

This application has a simple working principle: listing meme coins, and if the coin manages to reach the required amount of liquidity, it will be listed further on the decentralized exchange. This newly launched platform runs above the Shibarium and uses BONE as part of its operations.

If this trend continues, demand for BONE could further increase along with the development of hype around the platform offering fair launches (fair launch). However, as has been seen in the example of pumpfun, the quality of assets launched in this way is often questionable, and may not be worthy of investment.

While BONE itself is a fairly well-established asset, users are advised to be careful and not to spend this token on cryptocurrencies that doubt and do not have a solid fundamental basis.

With this surge in transaction fees, the Shibarium's future will depend heavily on the network's ability to manage cost efficiency while continuing to attract new users. Whether the Shibarium will be able to maintain its growth or face new challenges due to this rising cost, we still need to wait for further developments.