Shiba Inu burn tracker has relaunched the demo page, estimating Shibarium’s potential SHIB burns.
Shibburn has relaunched a demo page estimating Shibarium’s potential burns of Shiba Inu (SHIB) tokens. It is worth noting that the “estimate-only” page launched last week was taken down by the Shibburn team.
However, the team relaunched the platform due to growing demands. “Okay guys, the page is available once again because some friends requested it,” Shibburn tweeted today.
Okay guys, the page is available once again because some friends requested it, but please understand that this is just an estimate based on some of the numbers we have set. Use it as a demo and nothing more. Also, keep in mind that if Gwei or the price increases, everything else…
— Shibburn (@shibburn) September 7, 2023
According to the team, information on the platform should only be used for demo purposes, as the data were obtained via rough estimations.
The team conducted a rough estimate of Shibarium’s total transactions, 70% of the network’s average base fee, and the value of Bone ShibaSwap (BONE).
“Please keep in mind that this data is for approximate reference only, numbers will fluctuate, bone’s price will be different, and fees can vary significantly with each block,” it added.
Shibarium Initial Burn Estimate
Since Shibburn noted that it has no plans to go through each Shibarium block, it performed a rough estimate by converting Gwei (a small unit of ETH) to BONE.
Furthermore, it multiplied the result by the gas usage. Based on the fluctuation of the gas usage, Shibburn used 500000 as a reference for the average gas usage.
At press time, Shibarium’s total transactions stand at 1,275,572 (1.27 million), with 82,409 transactions today. Additionally, according to data on the page, 70% of Shibarium’s base total fee is worth $0.000651.
Shibarium Needs to Process 38M Txns to Accumulate $25K
Using the current data on Shibariumscan, the page estimated that Shibarium has already accumulated $817 worth of BONE.
Shibburn speculated that Shibarium needs to process 38,402,458 (38.4 million) transactions at the current BONE price of $0.9849 to accumulate $25,000 worth of Shibarium gas token.
It bears mentioning that 70% of Shibarium’s base fee will be used to buy and burn SHIB. It remains to be seen how long it will take Shibarium to process over 38M transactions to accumulate $25K worth of BONE.
Meanwhile, Shiba Inu’s marketing specialist, Lucie, recently highlighted nine Shibarium offerings that could prompt businesses to adopt the L2 blockchain.
If these businesses successfully adopt Shibarium, it will take a little while before the L2 blockchain processes 60M transactions and more.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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