- Shiba Inu’s Layer 2 protocol, Shibarium, reached two major milestones in its beta testing phase, recording 25 million transactions and nearly 17 million wallet addresses.
- Shibarium, offering enhanced scalability and reduced gas fees, is expected to drive increased usage and demand in the Shiba ecosystem, potentially boosting the price of the BONE token.
Shiba Inu’s much-anticipated Layer 2 protocol, Shibarium, is making significant strides, accomplishing two remarkable milestones. In its beta testing phase, Shibarium’s testnet, dubbed “Puppynet,” has recorded an impressive 25 million transactions and nearly 17 million wallet addresses. These notable achievements are indicative of the protocol’s potential, igniting excitement in the community ahead of the mainnet’s official launch.
The Shiba Inu community, widely recognized for its strength among meme coin enthusiasts, has witnessed the asset’s ecosystem expanding in parallel with the community’s growth. This growth is particularly evident in the significant milestones achieved by Shibarium during its beta testing.
In addition to the vast number of transactions and wallet addresses, Puppyscan data also indicates an increase in total block processes, surpassing 1,400,000. This continuous growth takes place amidst the swirling rumors regarding Shiba Inu’s lead developer, Shytoshi Kusama.
The community has recently been abuzz over a cryptic tweet from Kusama. His statement,
“Wen is so last year. The real question is… where?”
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has spurred speculation among community members, with many pondering its possible implications for Shibarium’s forthcoming launch.
Designed as a Layer 2 solution, Shibarium is set to drastically decrease gas fees while enhancing scalability. This enhanced scalability paves the way for a higher volume of transactions at a significantly lower cost, further bolstering the Shiba ecosystem.
According to a recent tweet by Lucie, an official in the Shiba ecosystem, Shibarium’s launch is expected to positively influence the price of BONE, the platform’s native token. As Shibarium prompts an increase in general usage and adoption within the Shiba ecosystem, the need for BONE, used to pay for gas fees, would likely grow. This increased demand might catalyze a surge in BONE’s price, which, at the time of writing, stands at $0.90. With Shibarium’s impending launch, it appears the Shiba ecosystem is bracing itself for exciting times ahead.
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