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In a recent development, Shibburn, the tracker of Shiba Inu burn transactions, has unveiled a new feature dedicated to monitoring preparations for burns on the Shibarium blockchain. While this announcement has garnered attention within the crypto community, it is accompanied by a report of a sudden spike in gas fees on the platform. Gas Fees on Shibarium Experience a Swift Ascent Shibburn initially estimated BONE fees on Shibarium ’s Layer-2 blockchain, a prediction that was reasonably close to the actual average fee upon its first release. However, the situation took an unexpected turn on September 21, when Shibburn recalculated the data from the previous week. This revised data revealed an alarming surge in gas fees, particularly on September 12 and 13. During these two days, gas fees on Shibarium soared to levels well above the norm. Some transactions witnessed a staggering increase of 60% to 70% above the permitted gas limit of 20,000,000. Shibburn clarified that their c...

SHIB Token Burn Reflects Shibarium Anticipation Whales within the Shiba Inu ecosystem are doing a lot to help bolster the overall outlook of the protocol ahead of the full launch of the Shibarium L2 on the mainnet. According to data from Shibburn, a total of 581,549,041 SHIB tokens have been sent to dead wallets in the past 24 hours, with active contribution from more than one wallet. advertisement The SHIB token burn metric is a very important one as it gives an insight into how willing large amounts of tokens are deflated from the general supply. As a memecoin with tons of tokens in circulation, defining a steady deflationary model is crucial to attracting the right investor base post-Shibarium launch. The positive sentiment surrounding Shibarium has been in the community for several months now and the need to get onboard the protocol has pushed a lot of enthusiasts to try out the PuppyNet testnet. These trials have in turn contributed to the impressive mil...

The Shiba Inu team has been striving to uphold the spirit of decentralization. Recently, it was unveiled that the Shiba Inu ecosystem will tie all the applications to a blockchain-based digital identity going forward. The Self-Sovereign Identity, or SSI, will help bolster trust among SHIB users and governments. Alongside, it will give users more control over their personal data and its distribution online. In a recently released blog post, Shytoshi Kusama addressed the what, why, and when of the SSI implementation. Kusama asserted that large companies make “billions” by monetizing user data. This is technically done with permi ssi on, but not always with full user understanding. The SSI intended to change this paradigm and opened the doors for “advanced trust and decentralization.” The post brought to light that Shib SSI will solve the complexity of the Shiba Inu ecosystem by fostering granular governance. This will be done at a level ”not realized...

Shiba Inu Burn Dropped The Shiba Inu (SHIB) token burn has undergone a substantial decrease from May to June. In May, a total of 15,369,335,177 SHIB tokens were burned, reflecting the community’s efforts to reduce the token supply. However, in June, the burn rate dropped significantly, with only 1,653,845,435 SHIB tokens burned. advertisement While the token burn decreased significantly from May to June, the ecosystem’s developments and milestones suggest continued progress and engagement within the Shiba Inu community. $SHIB current price stands at $0.000007619, reflecting a modest 1.26% increase in the last 24 hours. Also Read: SHIB Bags New Listing In Asia.. Announcements of Metaverse updates, Shibacals, and World Paper by Shib lead developer led to significant price surges this month. Post crypto bullish air followed by BlackRock Spot BitcoinETF filing, Shiba Inu also experienced a surge of Recommended Articles ...

Shiba Inu fell 10% on Thursday, March 16, 2023, after a flurry broke out on Discord about the Shibarium ‘code’. Bone also plunged nearly 20% surrounding the allegations that a ‘code’ in the Shibarium beta testnet is copied. Source: CoinGecko Conversations were exchanged between moderators and SHIB investors on Discord’s Bone channel today. Moreover, the drama first erupted after a Twitter user named ‘Rancune’ shared screenshots of the Discord chats. The concern shows that the Shibarium beta testnet might have used the same Chain ID as an existing blockchain. Also Read: Shiba Inu: AI Predicts SHIB Price For March 31, 2023 In simple words, concerns were raised that a code in the Shibarium beta testnet was picked up from an already existing Rinia Chain. Source: CoinGecko.com “Why is it that it looks like Shibarium testnet has taken Rinia testnet genesis file. Changed the name from Renia. But forgot to change the chain ID,” a user named Steve said on Discord. “HOLY ...