Shiba inu

Shibarium Testnet ‘PuppyNet’ Reaches New Milestones, SHIB & BONE Jumps

Shiba Inu’s layer-2 Shibarium testnet “Puppynet” hit another milestone as the number of transactions on it now approaches 30 million. This indicates an increase in Shibarium network activity, hinting at its demand for the chain and a boost in SHIB and Shibarium’s gas token Bone ShibaSwap (SHIB) prices in the long term.

Shibarium Testnet Puppynet Continues to Hit Milestones

According to the dedicated blockchain explorer Puppyscan, Shibarium beta Puppynet completes 30 million transactions since its launch on March 11. Puppynet hit 10 million transactions on May 20 and 20 million transactions on June 11. Meanwhile, the increase in the utility of Shibarium is another milestone.

The total blocks processed by Shibarium beta Puppynet surpassed 1,700,764 and the number of wallet addresses increased to 17,061,835. The blockchain remains stable as the average block time is 5-7 seconds and the gas fee is near 1 Gwei. However, the number of daily transactions has dropped from over 3 million to 2.6 million in the past few days.

However, the transactions rate and wallet addresses are expected to rise as lead developer Shytoshi Kusama reveals the Shiba Inu ecosystem’s Worldpaper, all Shibarium partners, and TREAT token during the Blockchain Futurist Conference in August. As it coincides with Shiba Inu’s third anniversary and is also the birthplace of Ethereum, the long-awaited Shibarium is to likely release near August 16.

Also Read: Cathie Wood’s Ark Invest Sells $53 Million In Coinbase Shares, Buys Meta and Robinhood

SHIB and BONE Price Picks Momentum

In a month, Shiba Inu (SHIB) and Bone ShibaSwap (BONE) prices have rallied by 30% and 90%, respectively. Whales and traders continue to show interest in the Shiba Inu ecosystem. The largest Shiba Inu whale with 101.47 trillion SHIB tokens transferred 4 trillion SHIB tokens to eight new wallet addresses.

SHIB price currently trades at $0.00000837, up 6% in the last 24 hours. The 24-hour low and high are $0.00000770 and $0.00000848, respectively.

Meanwhile, Shibarium’s gas token Bone ShibaSwap (BONE) currently trading 3% up at $1.31. The 24-hour low and high are $1.25 and $1.32, respectively.

Also Read: US Fed Suer Intervenes US SEC Lawsuit Against Binance And CEO “CZ”

Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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