Puppynet, the native testnet of the Shibarium network, is experiencing an increase in activity in advance of the mainnet rollout that is scheduled for later this year. After its launch on March 11, blockchain explorer data indicates that the Puppynet testnet has already processed over 1,000,000 transactions from just over 200,000 unique wallets.
The majority of that increase occurred over the course of the past week, with over 114,000 transactions taking place over the course of a 24-hour stretch on March 28-29. While there has been a lot of activity on Puppynet so far, the worth of SHIB and BONE, which are both tokens used in the Shibarium ecosystem, may increase in the near future. However, there is still a need to exercise extreme prudence.
The Prospects of Shibarium
Some experts contend that the monetary effect of the Shibarium upgrade has been unimpressive. Its beta test network, Puppynet, achieved an important milestone of 200,000 wallets in a little more than a week. According to the opinions of some industry experts, despite the fact that additional work needs to be done, this achievement is still regarded as remarkable.
unification, the firm behind Shibarium, is also developing an all-in-one wallet solution that will allow for native two-way asset transfers, staking/delegating, and Shibaswap integration. These developments suggest that the value of SHIB and BONE could experience a near-term price spike. However, given the current macroeconomic climate, any such movements are likely to be short-lived.
Testnets, such as Puppynet, are designed for testing purposes and mimic activity on the mainnet. They enable developers to debug any issues and monitor network activity ahead of a wider release. Shibarium is a layer 2 blockchain that builds off of layer 1 protocols to reduce bottlenecks with scaling and data. Shibarium’s layer 2 blockchain design also addresses scaling and data issues, which is crucial for the success of any blockchain project.
The rising activity on Puppynet is a positive sign for the Shibarium project and its ecosystem tokens. The upcoming mainnet release and all-in-one wallet solution could lead to further price spikes. It is seen as a major development for the Shiba Inu ecosystem, which originally launched as a memecoin inspired by the popular Shiba Inu dog breed but has since positioned itself as a serious blockchain project.
