Shiba Inu, the renowned meme-based cryptocurrency, experienced an astounding 1900% burn rate surge within 24 hours. This remarkable spike came on the heels of the Shibarium testnet, Puppynet, reaching a significant milestone of 25 million total transactions, generating immense excitement and anticipation for the imminent mainnet release.
PuppyScan, the dedicated blockchain explorer for Shiba Inu, reported that the Shibarium beta testnet had surpassed the impressive mark of 25 million transactions at a staggering 25,507,335. Moreover, 17,001,839 wallet addresses have actively participated in Shiba Inu transactions, highlighting the widespread engagement and interest in this captivating cryptocurrency.
The testnet has processed over 1,483,165 blocks, boasting an impressive average block time of 7.5 seconds. These impressive statistics showcase the efficiency and scalability of the testnet and contribute to the growing optimism surrounding Shiba Inu and the expanding possibilities within its ecosystem.
The excitement further intensified when Shytoshi Kusama, the esteemed lead developer of SHIB, took to Twitter to share a compelling 19-second video clip accompanied by an image featuring the iconic dog-headed SHIB logo. While the video contained minimal captions, it offered a tantalizing glimpse into the project’s plans. The dynamic motion lettering within the video alluded to an imminent revelation, with the cryptic message, “Something is coming. Actually, we are going somewhere.”
Shibarium, a cutting-edge Layer 2 blockchain platform, is poised to empower the development of Decentralized Applications (DApps). As the launch of the mainnet approaches, Shiba Inu enthusiasts eagerly anticipate the boundless opportunities and prospects that this innovative platform will unlock.
Regarding price action, Shiba Inu was observed trading at $0.000007722, registering a notable 3% increase in the past 24 hours. While volatility is inherent in the cryptocurrency market, the recent surge in burn rate and the significant milestone achieved by the Shibarium testnet undoubtedly contribute to the prevailing positive sentiment surrounding Shiba Inu amid calls for a $0.001 SHIB price.
As the cryptocurrency community eagerly awaits further updates and announcements from the dedicated team behind Shiba Inu, the resounding success of the Shibarium testnet and the growing engagement with Shiba Inu transactions establish a solid foundation for the project’s future growth and widespread adoption.