Shibarium Transaction Fees Skyrocket by 1,036% as Pumpfun-Like Applications Emerge

The average transaction fees on Shibarium, the blockchain solution of the Shiba Inu ecosystem, have literally skyrocketed in the past few days.

Average transaction fees on Shibarium, a blockchain solution from the Shiba Inu ecosystem, have seen a 1,036% increase in the past few days, rising from 0.012 to 0.1168 BONE tokens per transaction, as reported by data from Shibariumscan.

BONE serves as the native token for Shiba Inu and plays a crucial role in the network's functioning. As a transaction fee token, BONE is used to pay for each transaction on the Shibarium blockchain. A portion of each transaction fee is automatically converted into Shiba Inu tokens and directed to a burn wallet, burning the supply of SHIB and rendering the popular meme cryptocurrency deflationary.

The rising transaction fees indicate increased network usage, but they also highlight the costs associated with utilizing Shibarium.

Pumpfun, but for Shiba Inu (SHIB)

The recent introduction of pumpfun and sunpump-like applications for Shiba Inu may be driving this increase. These platforms offer a straightforward service: if a meme coin manages to secure the necessary liquidity for the bonding curve, it will be listed on decentralized exchanges.

Shiba Inu's Shibarium Layer-2 now has a pumpfun and sunpump-like application for listing meme coins. It's called "ShibaPump" and uses BONE tokens.

Now anyone can issue their meme coin with a bonding curve of either 690 $BONE or 6900 $BONE. The lesser the BONE a bonding curve has, the easier it is for the price to go up 10x to 100x or more. And if you want a massive liquidity, a bonding curve with 69,000 $BONE is recommended. https://t.co/qQKLJ8moR8… pic.twitter.com/OpEYXGKL2W

ShibaPump, a new platform, utilizes Shibarium and BONE tokens. It allows users to launch their own meme coins with bonding curves ranging from 690 to 69,000 BONE tokens. The smaller the bonding curve, the faster the coin's price can increase by 10x to 100x or more. For those seeking maximum liquidity, a bonding curve of 69,000 BONE tokens is advised.

If this scenario holds true, demand for BONE could continue to rise as these "fair launch" platforms gain momentum.

However, as evidenced by the pumpfun example, the quality of assets deployed through this method is unlikely to meet investment-grade standards.

While BONE itself is a relatively established asset, it may be prudent to avoid allocating it to unverified cryptocurrencies lacking any fundamentals.