Reasons SHIB’s price action could be on the fence despite much cheer around…

ambcrypto.com:

The Shiba Inu team recently took a step forward by updating the documentation of their Shibarium testnet. The said document, packed with useful information, covers various aspects of the network, from staking to the burn rate of SHIB.

Despite BONE being the primary token of the network, the updated documentation also shed light on how SHIB would benefit in the bargain.

– How much are 1,10,100 SHIBs worth today

The updated Shibarium documentation provided users with accurate, detailed, and valuable information about validators, delegators, and, most significantly, the burn mechanism of the ecosystem.

As per the updated Shibarium documentation, transaction fees on the network could be classified into two types – Base Fee and Priority Fee. When a user initiates a transaction, the B ase Fee is locked in a contract on the Shibarium network, while the Priority Fee will be paid to the validator.

The Base Fee is also divided into two parts, with 70% designated for burning and the remaining 30% reserved for network maintenance. This approach could thus ensure that the network remains sustainable in the long run, while contributing to a deflationary supply of SHIB tokens.

In addition to the aforementioned information, a recent post from Shibburn highlighted an impressive reduction in the supply of SHIB tokens. The reduction was due to a significant burn rate witnessed in the past seven days.

TOKENS BURNT Past 24Hrs: 17,663,879 (-20.03% ▼) Past 7 Days: 1,073,811,020 (-44.83% ▼)

— Shibburn (@shibburn) April 3, 2023

The post revealed that over 1 billion SHIB tokens were burnt within the