Discover Shibarium’s bold journey as it aims to gather over 5 quadrillion transactions to incinerate $25,000 worth of Shiba Inu tokens, with exclusive insights from Shibburn, the esteemed Shiba Inu burn tracker.
In a riveting turn of events within the world of cryptocurrencies, Shibarium, the blockchain network dedicated to Shiba Inu token burns, is making headlines with its ambitious mission to accumulate over 5 quadrillion transactions in order to burn $25,000 worth of Shiba Inu tokens (BONE). Shibburn, the esteemed Shiba Inu burn tracker, has provided exclusive insights into the ongoing endeavors surrounding Shibarium’s quest for Shiba Inu burn contributions.
Shibburn’s Past Accuracy and Recent Revelation
Shibburn, known for its precision in tracking Shiba Inu burns, had previously estimated the accumulation of BONE tokens on Shibarium for SHIB burns with the use of average fee data. This estimate had been widely accepted as accurate within the crypto community. However, recent developments have unveiled a significant shift in the blockchain’s progress.
A Quantum Leap in BONE Accumulation
According to Shibburn’s meticulous tracker, Shibarium has now amassed a staggering 0.512012928597 BONE tokens, a monumental leap from the initial estimate of 0.0000089902. This noteworthy figure represents the volume of BONE tokens that the Shibarium blockchain has accrued from transactions earmarked for potential Shiba Inu burns.
Surge in Gas Fees Sparks Attention
Shibburn, in its report, highlights a significant surge in gas fees surrounding transactions dated around September 12 and 13. Some transactions reportedly consumed as much as 60% to 70% of the total gas limit, indicating heightened activity and competition within the Shibarium network.
The Everest-Sized Challenge Ahead
With the current BONE accumulation standing at $0.402089387772, the Shibarium network finds itself faced with the Herculean task of garnering an astounding 5,395,429,261,093,135 (over 5.39 quadrillion) transactions to reach the coveted $25,000 in BONE. This, in turn, would lead to the burning of a staggering 3,443,526,170 (over 3.4 billion) Shiba Inu tokens.
Time Becomes a Relative Concept
A striking statistic reveals that Shibarium, with its current daily transaction count of 42.59K, would require a jaw-dropping 126,683,006,834 (126.6 billion) days to execute its first burn transaction. To put this into perspective, that equates to over 347 thousand years. This data underscores the pressing need for increased adoption within the network to effectively contribute to token burns.
A Tentative Estimation and the Role of Gas Fees
It’s important to note that Shibburn acknowledges this figure as an estimation. Furthermore, it underscores that the average configuration for ‘transactions needed’ might not experience substantial changes if gas fees continue to exhibit fluctuations.
Shibburn also clarifies that the tracker’s calculations take into account all transactions, a majority of which have incurred lower gas fees. This plays a pivotal role in sustaining the higher estimate before Shibarium can significantly burn Shiba Inu tokens.
Data Accuracy with the Deployment of NowNodes RPC Node
Crucially, Shibburn points out that the estimated figures are based on data from 99.48% of the blocks on the Shibarium blockchain. The enhanced accuracy is attributed to the deployment of an RPC node from NowNodes, which has allowed Shibburn to meticulously track the Shibarium network.
As of now, Shibburn’s tracker has successfully indexed 758,754 of the total 762,518 blocks, with the value updating every second.
The Shibarium ecosystem continues to captivate the crypto community with its audacious mission to burn Shiba Inu tokens. The road ahead, marked by the need for increased transaction adoption and the stability of gas fees, presents both challenges and opportunities as Shibarium strives to reach its monumental goal of $25,000 in BONE token burns.