Engagement on Puppynet Reaches New Milestone; What Does This Mean for Shiba Inu?

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The Shiba Inu community is eagerly anticipating the layer-2 scaling solution of the ecosystem, Shibarium. This is demonstrated by the widespread acceptance and participation in the Shibarium Beta Testnet, often known as Puppynet. Shiba Inu supporters anticipate a 13,000% price increase for SHIB as recent data indicates that interaction on the Shibarium Beta testnet has hit new milestones.

Puppyscan, the official Puppynet explorer, reveals that total transactions, total blocks, and the number of wallet addresses connected to the Shiba Inu layer-2 test network all increased significantly compared to the previous weeks’ statistics.

The total number of transactions carried out on Puppynet as of this writing is 27,043,014. In comparison, 1,562,978 or more blocks were produced overall on the network. Likewise, the test network’s average block time was 6.8 seconds at the time of publication.

Related Reading: Shiba Inu Record Burn: 59M Tokens Burned in One Transaction

More Wallets Adrressses Interacting with Puppynet

The significant number of wallet addresses connected to Puppynet indicates the growing interest in the L2 solution, which intends to make Shiba Inu more scalable, even though the precise timing for Shibarium’s mainnet launch is still to be established. As of July 6, 17,055,354 wallet addresses had interacted with Puppynet, according to Puppyscan, showing that extensive testing is being done to ensure a successful mainnet solution.

Recall that as of a report on June 30, the explorer had 25,686,610 total transactions, 1,491,267 blocks created, and 17,007,722 wallet addresses for Puppynet. On June 13, daily transactions peaked at 324,899 and gradually declined over the next few days. The statistic has stayed at 274,000 transactions per day since June 19.

Shiba Inu Could Surge to a $0.001 Price Level

These new developments further imply that Shibarium will be universally accepted whenever it launches on the mainnet. Lead developer Shytoshi Kusama suggested that the project’s mainnet launch is approaching faster than anticipated. Kusama revealed the intended strategy earlier this week, hinting at a new debut date.

In light of this, some Shiba Inu community members predict that the meme token’s price may rise to $0.001. Should this occur, SHIB’s price would have climbed from its present level by 13,096%. Notably, at the time of writing, Shiba Inu is trading at $0.000007602. The price of SHIB has increased by 1.74% during the past 24 hours after rising more than 3.92% over the previous seven days.

Shiba Inu is up 1.74% in the last 24 hours. Source: CoinMarketcap

Read Also: Could Shiba Inu Deliver Big in the Face of Price Restraint?

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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