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Ethereum Fees Dip to $1.63 as Santiment Predicts Increased Network Usage

Author: Content Editor
The average transaction fees on the Ethereum network have reached unusually low levels, according to Santiment. This could lead to increased network usage as historically, low transaction fees have encouraged traders to increase transfer frequency. Santiment's analysis highlights four fee tiers, each with distinct implications for market behavior. The recent fee reduction can be attributed to the implementation of Ethereum's Dencun upgrade, which introduced a new mechanism for reducing transaction costs on Layer-2 networks. Discussions within the Shiba Inu community regarding the use of SHIB as gas fees on the Ethereum network have emerged, but technical challenges make such integration difficult. Ethereum's architecture relies solely on ETH for transaction fees, and integrating an alternative token like SHIB would require significant infrastructure changes that could compromise network security and efficiency.

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