Shiba Inu’s Testnet Surpasses 20M Tx, Signaling Explosive Price Gains

• Shiba Inu’s blockchain network testnet ‚Puppynet‘ has surpassed 20 million transactions, signaling a bullish setup for SHIB after the launch of Shibarium.
• Large whale activity is evident with more than $10 million worth of SHIB bought by a single whale on Tuesday.
• Shibarium promises to bring scalability, low transaction fees, and a new SHIB burning mechanism which will unlock the project into the Metaverse, DeFi, and other web3 products.

Shibarium Testnet Surpasses 20 Million Transactions

The Shiba Inu testnet blockchain ‘Puppynet’ has celebrated crossing 20 million transactions, signaling a bullish setup for SHIB after the launch of Shibarium. According to data shared by LUCIE, 16.7 million wallet addresses have been used to complete these transactions with an average block time of 5 seconds. This is encouraging ahead of Shibarium’s launch as it suggests that there is high anticipation in the community for the layer-2 network.

Whale Activity Ahead Of Launch

In anticipation of Shibarium’s launch, large holders have been accumulating heavily. Data from Lookonchain shows that earlier this week, one holder obtained 1.5 trillion SHIB at a value of $10M. The largest holder now holds more than 30% of total supply with 1491 trillion coins while another two whales hold around 10% each with 694 trillion and 614 trillion coins respectively.

What Can We Expect From Shibarium?

Shibarium promises to transform the Shiba Inu ecosystem as it brings scalability, low transaction fees, and a new SHIB burning mechanism when it launches in the coming months. It will also unlock new capabilities such as governance systems, IRL interactions, Metaverse activities and other decentralized applications (DAOs) not seen before on any other platform in the world .

Lead Developer Update

The lead developer Shytoshi Kusama has been offering regular updates and has promised that Shibarium will launch in the next few months although an exact date has yet to be given. In his latest update he noted that “Shibarium covers Governance, IRL [in real life], MV [Metaverse], Blockchain AI & DAO’s That Cannot Be Done by Anyone Else On The Planet” indicating that this could be something special once released into mainnet status.

Conclusion

The growth of Puppynet is encouraging ahead of Shibarium’s launch which looks set to elevate Shiba Inu from memecoin status to major player in crypto competing with Ethereum and Cardano among others – signalling massive potential for price explosion when it goes live!