In a whirlwind turn, gas prices on the Shibarium network, linked to Shiba Inu, shot up an astounding 2,050% in merely two days. Data from Shibariumscan shows an unprecedented surge in the cost of gas for transactions, jumping from 18 gwei to a remarkable 37.6 gwei in just 24 hours. This rapid rise comes after a previous surge of 1.84 gwei just two days earlier, highlighting the remarkable speed of Shibarium's transaction activity.

The surge in gas prices is primarily due to the increased use of the network. Over the past day alone, Shibarium has seen a significant rise in transactions, going from 9,750 to an impressive 10,770. At the same time, the number of active accounts engaging with Shibarium has surged, with a notable 34% increase in new accounts, totaling 478.

Transactions on Shibarium are conducted using BONE, the secondary token within the Shiba Inu ecosystem. Despite the sharp rise in gas fees, the exchange rate of BONE has remained relatively stable, indicating a resilient market response. Nonetheless, BONE saw a notable 14.86% price surge over the previous week, suggesting strength within the broader Shiba Inu ecosystem.

The sudden increase in gas prices on Shibarium underscores the growing demand and activity within the network, albeit at a cost. As the Shiba Inu ecosystem continues to grow and develop, the community is closely observing these developments, anticipating further impacts on token dynamics and market sentiment.