The Shibarium launch appears imminent, and the Shiba Inu community seems to be basking in anticipation with renewed hopes, knowing the capability of the anticipated technology and what it hopes to achieve in the SHIB ecosystem.
However, renowned crypto expert Del Crxpto thinks the public has yet to fully understand what the Shibarium can achieve, especially its SHIB burning potential and capability.
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Taking to Twitter, Del Crxpto quoted his previous tweet, where he commented on the rising misconceptions about Shibarium functionality and Shibarium’s transaction fees; the crypto expert wrote, “People don’t understand how much $SHIB will be burnt, and that is concerning.”
People don’t understand how much $SHIB will be burnt and that is concerning… https://t.co/88zmH6upD9
— Del Crxpto (@DelCrxpto) July 17, 2023
Transaction Charges On Shibarium: Controversies?
Earlier this year, Ringoshi Toitsu took to Twitter to announce that the average transaction fee on Shibarium will be $0.02, noting that 1 BONE token is sufficient to cover gas fees of 70 transactions on Shibarium.
JUST IN — Gas fees on #SHIBARIUM will be comparable to #Polygon gas fees.
Average txn on Polygon costs $0.02!
Meaning 1 $BONE = ~70 txns 🚨
BONE as gas doesn’t make SHIBARIUM powerful. #Unification toolkits powered by $FUND does!#UNoDE — https://t.co/Pn7OKOlxmE 👇🏼 pic.twitter.com/vQtAsSHVc2
— Ringoshi Tōitsu (@RingoshiToitsu) January 26, 2023
For context, the low transaction charge was part of Shiba Inu’s intentional effort to boost the coin’s adoption while impacting the token’s market worth in the future.
Notably, network charges would get allocated to base and priority expenses. Per Shibarium’s documentation, 70% of the base funds would be invested in buying back and burning SHIB tokens, while the remaining 30% would get rationed into operational costs and network maintenance.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Top Data Aggregator Points Up How SHIB Would Reach $0.01, Sets Shiba Inu Price for 2030
Reactions From Shibarium Community
Despite the pocket-friendly expected transaction fee on the Shibarium network, the Shiba Inu community appears more concerned about what a meager $0.02 would achieve amidst the SHIB tokens’ massive supply that requires burning down to significant levels to accelerate its increase in price.
Shiba Inu (SHIB) Market Trends
According to Shiba Inu’s data on CoinGecko, the token’s price at the time of drafting this report was $0.00000782, reflecting a decline of 1.1% in the past 24 hours.
In the past week, SHIB maintained a market high and a price low of $0.00000809 and $0.00000764, respectively. The highlighted prices indicate strong resistance levels, which must be exceeded for SHIB’s price ascent.
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