Blockchain News

Shiba Inu’s Shibarium Testnet Gains Momentum as Mainnet Launch Looms

The Shiba Inu community is celebrating as its testnet, Shibarium, achieves new milestones with a growing number of users connecting their crypto wallets to the network. Known as Puppynet, Shibarium’s testnet launched on March 11 and has recently witnessed a surge in overall transaction count, marking significant progress.

Shibarium experienced nearly a million transactions in a single day, surpassing the 27 million mark and setting a new record. On June 13, the network peaked at 324,000 transactions, slightly decreasing in the following days. However, since June 19, the daily transactions have stabilized at around 274,000.

Simultaneously, the number of wallets linked to Shibarium continues to rise, albeit at a slower pace, as reported by Puppyscan data. There are over 17 million linked wallets, with no substantial spikes in recent records.

The total blocks on Shibarium have now exceeded 1.56 million, and the time required to create a new block has been significantly reduced to 8.3 seconds, further enhancing the network’s efficiency.

Excitement is mounting within the community as the official launch of Shibarium’s mainnet draws near. Shytoshi Kusama, the lead developer of Shiba Inu and Shibarium, shared details about the planned “launch strategy,” confirming that the date and time have been finalized.

Speculation within the community suggests that the Shibarium mainnet might be launched between August 13 and 16 in Toronto, Canada, coinciding with the annual ETHToronto event. This event, which celebrates the creation of Ethereum, holds special significance for the SHIB community due to its original launch on the Ethereum blockchain. The community sees this potential launch as a tribute to Ethereum and its founder, Vitalik Buterin.

In a Telegram channel dedicated to Shibarium discussions, Kusama dropped hints that align with the theory about the mainnet’s launch date and location. Before this, he hinted at Shiba Inu “going somewhere” and clarified that the location would be outside the United States.

Despite recent fluctuations, Shiba Inu’s (SHIB) price has experienced a slight decline of nearly 4% in the past 24 hours, with the current trading value at $0.00000745. However, over the past week, SHIB’s market capitalization has surged by $200 million.

Additionally, SHIB’s trading volume has slightly increased in the past week, rising from $100 million to $117 million in the last 24 hours.

As the Shiba Inu community eagerly awaits the launch of Shibarium’s mainnet, the achievements and growing user engagement on the testnet are propelling the project toward its next phase. With the anticipated launch drawing closer, Shiba Inu continues to captivate the crypto world with its unique offerings and dedicated community support.


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