- Brisk activity on the Shibarium testnet indicates demand, which could boost the value of SHIB tokens in the long term.
The Shibarium network’s native test network, Puppynet, has crossed more than 20 million transactions from 16 million wallets as it crawls closer to a mainnet release in the coming months.
Testnets, such as Puppynet, are blockchain networks designed for testing purposes. They mimic activity on the mainnet and allow developers to debug any issues and monitor network activity ahead of a wider release.
The average transaction time was five seconds, Puppeynet blockchain scanners show.
Such participation suggests demand for the network, which could ultimately boost the value of SHIB and BONE, two Shibarium ecosystem tokens.
On-chain data shows that one of the biggest SHIB investors added another $10 million worth of the tokens to holdings on Monday, bringing their total holdings to 5.3 trillion SHIB – worth $35 million at current prices.
Shibarium is touted as a major development for the Shiba Inu ecosystem, which launched as a meme coin fashioned after the popular Shiba Inu dog breed and has become a serious blockchain project.
A virtual land metaverse based on Shibarium is planned for a partial release later this year. That will allow users to create their own avatars – fashioned as humanoid dogs – to explore, visit and interact with lands and contribute to the in-game economy.
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