Excitement remains for prospects of Shiba Inu Layer 2 blockchain
forecasts that the impact of Shibarium will start to show in the next eight to twelve months. In an enlightening X post, the Shiba Inu team member provides insights on Shib burns and how Shibarium will aid in removing shib tokens from circulation. This, she says, is all part of a long-term plan.
burning remains a favorite topic in the SHIB community, which wishes to see burns soar into the trillions.Emphasizing the role of community efforts in achieving this main goal, Lucie added that every time Shibarium is used, a small quantity of SHIB gets burned. Shibarium was designed to burn Shib, and the gas fees were intentionally kept low to attract millions of people to use it and contribute to burning Shib tokens.
Lucie promises that the Shiba Inu community will get to know how much has been burned in the coming updates. According to Shibarium documentation, when a user makes a transaction on the network, the base fee is locked in a contract in Shibarium, while the priority fee is paid to the validator. Seventy percent of the base fee will be burned, and 30% will be set aside to maintain the network.Shibarium has hit significant milestones, totaling 530,657 transactions. The number of wallet addresses on the Layer 2 blockchain has also risen to an astounding 336,949.
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