- Shiba Inu’s native test network, Puppynet, has recorded over 20 million transactions, indicating a robust demand that could elevate the value of SHIB and BONE tokens.
- The Shiba Inu ecosystem is evolving from a meme coin into a more significant blockchain project with developments like the forthcoming metaverse based on Shibarium.
Shiba Inu’s testnet blockchain, Puppynet, has marked an impressive milestone by surpassing 20 million transactions initiated by 16 million wallets, signaling strong demand and pointing towards its impending mainnet release in the forthcoming months. Testnets like Puppynet function as experimental platforms for blockchain networks, mirroring the mainnet activities to enable developers to troubleshoot issues and analyze network operations before a broader release.
Transaction scanning tools for Puppynet reveal an average transaction duration of a mere five seconds. This level of engagement suggests a thriving demand for the network that could eventually enhance the value of SHIB and BONE, two of the Shibarium ecosystem’s tokens.
Crypto whale tracking data has shown substantial investment activity around the SHIB token, with a prominent investor recently adding an additional $10 million worth of the tokens to their portfolio. This brings their total holdings to a staggering 5.3 trillion SHIB, worth an estimated $35 million at present market rates.
The Shiba Inu project, which originated as a meme coin inspired by the renowned Shiba Inu dog breed, is swiftly evolving into a major blockchain venture. The development and anticipated launch of Shibarium are seen as significant steps in the project’s evolution.
Moreover, the Shibarium network is set to expand into the metaverse, with plans for a partial release of a virtual land metaverse later this year. This innovative development will enable users to create their personalized avatars in the form of humanoid dogs to explore, interact, and contribute to the in-game economy. This move indicates a significant progression for the Shiba Inu ecosystem, which is rapidly transitioning from its initial meme coin image to a robust blockchain project.
