Crypto Updates

Shiba Inu Layer-2 Project’s Growth Surges As Testnet Transactions Explode to Over 9,500,000: Blockchain Explorer

Most Dogecoin Holders Are in Profit While Majority of Shiba Inu Owners Remain Underwater: IntoTheBlock

New data shows that the number of transactions over the testnet of Shibarium, Shiba Inu’s (SHIB) highly anticipated layer-2 project, has more than doubled since last month.

According to blockchain tracker Blockscout, Puppynet is displaying explosive growth as over 9.5 million transactions have taken place over it since it launched in March, up from the 4.4 million last month.

Shibarium, a layer-2 protocol built on top of Ethereum (ETH) designed to create fast and inexpensive scalable solutions much like Polygon (MATIC), is set to officially launch sometime during the second half of the year, though no specific date has been set yet.

Though its number of transactions over the testnet has seen massive growth since its launch, Shytoshi Kusama, the pseudonymous developer in charge of the project, warned traders earlier that tokens on Puppynet were not considered investments.

“All tokens on Puppynet are NOT REAL. Don’t spend hard-earned SHIBS on these tokens if you see them no matter how hard people, anyone, shills.”

Blockscout also finds that nearly 16 million wallet addresses have interacted with Puppynet thus far with its gas fees being at 1.03 Gwei, which is a fraction of a penny.

Shiba Inu is trading for $0.000009 at time of writing, a fractional dip during the last 24 hours.

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