- Shibarium beta Puppynet will soon touch the milestone of 30 million transactions on the network.
- Shiba Inu whales gear up for the launch of Shibarium next month, with a strong movement of SHIB coins.
Over the past two days, Shibarium’s beta aka Puppynet witnessed a strong surge in the number of transactions recorded on the network. As per data from Puppy Explorer, the total number of transaction on the Puppynet at press time are 29,152,820.
If the growth rate continues at a similar pace, the transaction on Puppynet could reach the milestone of 30 million by the end of the week. Also, the total number of wallet addresses connected to Puppynet stands over 17 million as of press time.
Earlier this year in March 2023, the Shiba Inu team released Puppynet after almost a year of waiting, and strong demand from the SHIB community. However, the community is still asking Shiba Inu lead developer Shytoshi Kusama regarding the launch of the Shibarium mainnet. Although he previously committed to the launch by the end of May, things have continued to delay further.
The team is likely to launch Shibarium after the Eth Toronto conference, which ends on August 16. Shytoshi Kusama, the developer behind SHIB, will give a virtual speech using AI technology. However, it is unlikely that he will reveal his real identity during the conference.
Shibarium is the Layer-2 scalability platform of the Shiba Inu blockchain introduced with the goal of making transactions cheaper for the community. The official marketing specialist of Shiba Inu, Lucie, mentioned on her Twitter page that there is no exact date for the release of Shibarium’s mainnet. However, the developer team is close to completing it, she added.
Shiba Inu Whales Gearing Up for Shibarium Launch
Whale activity on the Shiba Inu blockchain has spiked recently with several million SHIB tokens transferred recently. As per the latest report from Arkham Intelligence, a total of 553 million Shiba Inu meme coins are on the move. Of them, nearly 200,000 SHIB coins have been moved to dead-end wallets i.e. burned.
An anonymous wallet received a transfer of around 405 million Shiba Inu tokens from the Binance exchange. Similarly, a wallet on the OpenSea NFT marketplace received a transfer of 100 million SHIB from a SHIB contract. Also, a dead wallet received a transfer of 111,000 Shiba Inu tokens from Coinbase. These transactions were observed ahead of the upcoming Shibarium launch.
Also, on-chain data provider Santiment reported that Shiba Inu (SHIB) has been showing some breakout potential as whale transactions surge. Santiment reported:
Shiba Inu is beginning to get back on some traders’ radars, following a mild +8% price jump last weekend. Since its #alltimehigh in October, 2021, the #memecoin‘s market cap has dropped 90%. But whale transactions & circulation are showing good signs.
Courtesy: Santiment
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