Shiba

Spike

Shiba Inu

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The average transaction fees on Shibarium, the blockchain solution of the Shiba Inu ecosystem, have literally skyrocketed in the past few days, according to data from&nbsp;<a href="https://www.shibariumscan.io/stats" rel="noopener noreferrer nofollow">Shibariumscan</a>. Specifically, there has been a solid 1,036% increase in the number of BONE spent per transaction, from 0.012 to 0.1168 tokens.
BONE is the native token of the Shiba Inu and plays a large role in the functioning of the network. As a transaction fee token, BONE is paid as the cost of each transaction on the&nbsp;<a href="https://u.today/unexpected-shiba-inu-shib-reset-might-start-soon-heres-reason" rel="noopener noreferrer nofollow">Shibarium</a> blockchain.&nbsp;
A bit of each transaction fee is automatically converted into&nbsp;<a href="https://u.today/shytoshi-kusama-highlights-epic-shib-move-in-gaming-sphere" rel="noopener noreferrer nofollow">Shiba Inu</a> tokens and sent to a burn wallet. This burns the supply of SHIB, making the popular meme cryptocurrency deflationary. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="7a4396c5-e89a-4585-af46-16b7ade0c00b" src="https://u.today/sites/default/files/inline-images/shibarium_11.png">Source: <a href="https://www.shibariumscan.io/stats" rel="noopener noreferrer nofollow">Shibariumscan</a>
The rise in transaction fees shows that more people are using the network, but it also raises questions about the cost of using Shibarium.
<h2 dir="ltr" id="pumpfun-but-for-shiba-inu-shib">Pumpfun, but for Shiba Inu (SHIB)</h2>
The reason for such an increase may lie in the introduction of pumpfun and sunpump-like applications for Shiba Inu. The principle is simple: list a meme coin, and if it gains the necessary amount of liquidity for the bonding curve, it will be further listed on decentralized exchanges. The newly launched platform runs on Shibarium and uses&nbsp;<a href="https://u.today/shib-team-excites-community-with-bullish-vitalik-buterin-post" rel="noopener noreferrer nofollow">BONE</a>.
<blockquote>
 You can now issue your meme coin with a bonding curve of 690 <a href="https://twitter.com/search?q=%24BONE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BONE</a> or 6900 <a href="https://twitter.com/search?q=%24BONE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BONE</a>.The less BONEs a bonding curve has, the easier it is for the price to go up 10x to 100x or more.If you want a massive liquidity, a bonding curve with 69,000 <a href="https://twitter.com/search?q=%24BONE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BONE</a> is recommended. <a href="https://t.co/qQKLJ8moR8" rel="noopener noreferrer nofollow">https://t.co/qQKLJ8moR8</a> <a href="https://t.co/OpEYXGKL2W" rel="noopener noreferrer nofollow">pic.twitter.com/OpEYXGKL2W</a>— WOOF | ve33 DEX on Shibarium🎀 (@woofswap) <a href="https://twitter.com/woofswap/status/1828430184619614578?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 27, 2024</a>
</blockquote>
If that is indeed the case, then demand for BONE may gain further traction as the hype around "fair launch" platforms builds.&nbsp;
However, as we have already seen in the pumpfun example, the quality of the assets deployed this way can hardly be called investment-worthy.&nbsp;
So while BONE itself is a somewhat established asset, it may be better not to spend it on some questionable cryptocurrencies with no fundamentals.

1,036% Spike in Shiba Inu Token Transaction Fees Stuns Shibarium

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