Shibarium has achieved remarkable milestones in the last 24 hours as increasing numbers of users join its testnet and connect their crypto wallets. The testnet, known as Puppynet, which was launched on March 11, has experienced an astounding surge in the total transaction count.
In the past 24 hours, the transaction count has surged by nearly a million, surpassing the 27 million milestone and achieving a new utility record. On June 13, a peak of 324,899 transactions was observed, followed by a slight decline in the subsequent days. Since June 19, the daily transaction level has been hovering around 274,000.
The number of connected wallets has been growing, albeit at a slower pace, with Puppyscan reporting a current count of 17,057,818 wallets. However, there have been no significant increases in wallet numbers in recent days. The total number of blocks has reached 1,564,275, and the block creation time now stands at 6.8 seconds.
Anticipated Launch Date for Shibarium
Following discussions by the enigmatic Shytoshi Kusama, the lead developer behind Shiba Inu and Shibarium, regarding the “launch strategy” for Shibarium, the SHIB community is now eagerly awaiting the mainnet launch expected to occur between August 13 and 16 in Toronto, Canada.
This choice of location holds significance as it coincides with the ETHToronto event, an annual celebration of Ethereum’s birthday. Given that SHIB was originally launched on the Ethereum blockchain, community members see this as a fitting tribute to both Ethereum and its creator, Vitalik Buterin.
In a dedicated Telegram channel focused on Shibarium updates, Kusama dropped a hint a few days ago that appears to support the theory surrounding the launch date and venue. Before this, he had tweeted about Shiba Inu “going somewhere,” indicating that this place would be outside the United States.
SHIB Burn Update and Price Movement
Based on data from the Shibburn explorer, the SHIB burn rate has entered negative territory in the past 24 hours, registering a decrease of -6.73%. A total of 71,410,947 SHIB meme coins have been permanently destroyed by being transferred to dead-end addresses, rendering them unspendable and irretrievable.
Burning coins refers to the process of removing them from circulation with the goal of increasing scarcity and potentially driving up the coin’s value when the supply significantly diminishes. Regarding Shiba’s market performance, it has been trying to surpass the $0.00000784 threshold, but unfortunately, it failed in two attempts within the past 24 hours. As a result, SHIB has retraced to its initial price level of $0.000007492.
