With a surge in digital adoption and enthusiastic community involvement, Shiba Inu’s Puppynet testnet on Shibarium has crossed a critical threshold of 10 million transactions, a monumental accomplishment demonstrating the platform’s growth and potential.
Shibarium is a remarkable Layer2 solution underpinned by Ethereum and tailor-made to serve the Shiba Inu ecosystem’s demands. Despite its mainnet still being under development, the proactive team unveiled its Puppynet testnet to the public recently, garnering significant engagement.
Puppynet’s Impressive Statistics: A Glance at the Numbers
The latest data collated by Puppyscan reveals that Puppynet has orchestrated 10.3 million transactions, processing a staggering 921,214 blocks at the time of writing. Further attributes contributing to its escalating popularity include its rapid average block time of 5 seconds and an astonishing count of over 15 million wallet addresses linked to the network.
An intriguing trend to observe is the daily transactions on Puppynet, which have been consistently swelling since mid-May. The network has effectively maintained an average of 300,000 daily transactions starting May 12, exemplifying its increasing relevance and utilization.
Simultaneously, the surge in network activity translates to an enhancement in Shiba Inu’s utility and a spike in the SHIB token burn rate. Data from Shibburn indicates that over the previous week alone, a massive total exceeding 3 billion SHIB tokens were burnt.
Impact on SHIB Supply and Potential Integration with Twitter
This continual token burning activity in recent weeks has subtly diminished the SHIB supply, yet the existing supply is currently above a whopping 589.3 trillion tokens.
To further amplify Shiba Inu’s reach and integration, the community has reached out to Linda Yaccarino, Twitter’s newly appointed CEO, proposing the integration of the token into the widely-used social network. The Shiba Inu community has openly pledged their support to facilitate this potential integration.
Ragnar Shib, a leading member of the ShibArmy community, voiced the community’s sentiment on Twitter, stating, “Any problem integrating @Shibtoken to Twitter let us know. We have the most loyal, helpful, and biggest community in the crypto world.”
Though the possible integration remains a topic of speculation, the community finds encouragement in Yaccarino’s expressed interest in the crypto world, as evidenced by her following the official SHIB account and other cryptocurrency-related projects.
The SHIB Price: Unfazed by Current Developments
While these developments mark significant strides for the Shiba Inu ecosystem, they have yet to positively affect the SHIB price.
However, the growing acceptance and utility of the token suggest a promising future for Shiba Inu, setting the stage for potential breakthroughs in the volatile world of cryptocurrency.
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