The SHIBarmy burned 1 billion $SHIB over the last seven days as wallet activity on the network hit a yearly high. shibburn
Here's how Shibarium contributes to SHIB burns
The recently published Shibarium documents have revealed new details about the impact of the Shibarium Layer 2 network on the overall burns of Shiba Inu. Since Shibarium is based on the proof-of-stake system, transaction fees are fractional, the documents say. The fee to move SHIB on Puppynet is around 10,000 times cheaper than on the Ethereum chain.
Besides, the transaction fee paid in BONE tokens is divided into a base fee and priority fee. The latter is to be paid out to validators. As for the base fee, 70% of it is to be. Thirty percent will be put aside for the developers to maintain the network. According to a tweet by crypto analyst Ali Martinez, over the few last days of March, he spotted the biggest surge in the daily activity of Shiba Inu wallets over the past year. The network saw approximately 35,788 SHIB wallets interacting on the network.Over the weekend, the Shiba Inu price demonstrated a rise by over 6%, surging to the level of $0.00001143.
However, during the past 24 hours, SHIB was pushed down slightly over 7%. After a mild 2% increase after that, the prominent meme coin is changing
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