Puppynet has marked a significant milestone by surpassing 20 million transactions, indicating a favorable setup for SHIB following the launch of Shibarium. The presence of substantial whale activity is evident as a single whale purchased over $10 million worth of SHIB on Tuesday.
The Shiba Inu Army is rejoicing over a notable achievement as the testnet blockchain ‘Puppynet’ of Shiba Inu surpasses the milestone of 20 million transactions. This accomplishment serves as a clear testament to the immense anticipation surrounding the upcoming launch of Shibarium. Shibarium is Shiba Inu’s layer-2 network, anticipated to become operational in the upcoming months. The surpassing of 20 million transactions on Puppynet signifies the growing interest and confidence in the Shiba Inu ecosystem, setting the stage for a highly anticipated and impactful debut of Shibarium.
Based on the data provided by LUCIE, the official Content Marketing Specialist of the Shiba ecosystem, an impressive 20 million transactions have been successfully executed across a total of approximately 16.7 million wallet addresses. This signifies a remarkable level of engagement within the Shiba community. Additionally, the data reveals an average block time of a mere 5 seconds, highlighting the efficiency and speed of the network. These statistics demonstrate the robustness and scalability of the Shiba ecosystem, paving the way for further growth and adoption.
💪🏻 20 000 000 million transactions!!! #Shibarium Beta testing pic.twitter.com/vBoSMvneHa
— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO 🧜🏼♀️ (@LucieSHIB) June 11, 2023
The remarkable progress witnessed by Puppynet sets an encouraging tone for the forthcoming launch of Shibarium. Shibarium holds the promise of revolutionizing the entire Shiba Inu ecosystem. Not only will it introduce scalability and reduced transaction fees, but it will also introduce an innovative SHIB burning mechanism. Furthermore, Shibarium’s launch will unlock a multitude of new possibilities for the project, including expansion into the realms of the Metaverse, DeFi, and various other web3 products. This expansion into diverse sectors signifies the project’s ambition to explore and leverage emerging technologies, ensuring its relevance and adaptability in the evolving digital landscape.
Also Read: US Politician Makes Shiba Inu Token Purchase, Welly’s Unveils New Store
While the precise launch date of Shibarium remains undisclosed, the lead developer Shytoshi Kusama has been diligently providing consistent updates, assuring the community that the launch will occur within the next few months. In a recent update shared by LUCIE, Kusama expressed an optimistic sentiment, highlighting that Shibarium encompasses a comprehensive range of features including Governance, IRL (In Real Life), MV (Metaverse), Blockchain, AI (Artificial Intelligence), and DAOs (Decentralized Autonomous Organizations). This statement underscores the uniqueness and distinctiveness of Shibarium, emphasizing its ability to deliver functionalities and capabilities that are unparalleled by any other project worldwide. Such an ambitious scope reflects the dedication and innovation driving the development of Shibarium and further fuels the anticipation surrounding its imminent release.
The Shiba Inu community eagerly anticipates the introduction of Shibarium, recognizing its potential to transform the project from a memecoin into a significant contender, rivaling established platforms like Ethereum, Cardano, and Polygon. As the launch approaches, there is a notable surge in demand for both Shiba Inu’s native token, SHIB, and Shibarium’s utility token, BONE. In particular, large holders have been actively accumulating these tokens. Lookonchain data reveals a compelling example, wherein a single holder acquired a staggering 1.5 trillion SHIB earlier this week, amounting to a value of $10 million. Such significant acquisitions demonstrate the confidence and interest of influential investors in the growth prospects of Shiba Inu and the forthcoming Shibarium platform.
The largest holder of $SHIB accumulated 1.5T $SHIB ($10M) from #Binance and #Coinbase again 4 hrs ago.
Address"0x40B3" holds 5.3T $SHIB($35.5M), and transferred 20T $SHIB($134.4M) to address "0x73AF" on May 16.
The whale is the largest holder of $SHIB excluding exchanges. pic.twitter.com/irMR39mfwE
— Lookonchain (@lookonchain) June 13, 2023
The accumulation of SHIB tokens by investors does not come as a surprise, especially considering the analysis provided by Santiment, a market intelligence platform. According to Santiment, SHIB is regarded as one of the most undervalued tokens in the current market landscape. The platform highlights that several prominent altcoins, including XRP, ADA, DOGE, MATIC, SHIB, UNI, and LINK, exhibit undervaluation across short, mid, and long-term realized capitalizations. The market capitalizations of these tokens are observed to exceed their respective realized caps, indicating the potential for significant gains in the upcoming summer period. This analysis suggests that these undervalued tokens, including SHIB, may experience a period of catching up and growth in the near future.
Shiba Inu is poised to join the ranks of top-tier projects, evident from its standing among peers in the analysis. This positioning highlights the project’s significant progress and potential for growth. Holders of Shiba Inu have ample reasons to be excited as they anticipate the launch of Shibarium and anticipate forthcoming developments within the ecosystem. The introduction of Shibarium, along with other upcoming initiatives, promises to bring new opportunities, advancements, and value to the Shiba Inu community. As the project continues to step up, it solidifies its position as an influential player in the crypto space, captivating the attention and enthusiasm of its dedicated holders.
Also Read: Largest Shiba Inu Holder Acquires $10M Worth of 1.5 Trillion SHIB
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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