Shiba Inu’s layer-2 Shibarium testnet “Puppynet” reached another milestone as the number of transactions now approaches 30 million. This indicates an increase in Shibarium network activity, indicating demand for the chain and an increase in the prices of SHIB and Shibarium’s gas token Bone ShibaSwap (SHIB) over the long term.

Shibarium Testnet Puppynet continues to reach milestones

According to dedicated blockchain explorer Puppyscan, Shibarium beta Puppynet has completed 30 million transactions since its launch on March 11. Puppynet reached 10 million transactions on May 20 and 20 million transactions on June 11. Meanwhile, the increase in Shibarium’s utility is another milestone.

The total number of blocks processed by Shibarium beta Puppynet exceeded 1,700,764 and the number of wallet addresses increased to 17,061,835. The blockchain remains stable as the average block time is 5-7 seconds and the gas fee is close to 1 Gwei. However, the number of daily transactions has fallen from over 3 million to 2.6 million in recent days.

However, the transaction rate and wallet addresses are expected to rise as lead developer Shytoshi Kusama unveils the Worldpaper of the Shiba Inu ecosystem, all Shibarium partners and the TREAT token at the Blockchain Futurist Conference in August. Since it coincides with Shiba Inu’s third birthday and is also the birthplace of Ethereum, the long-awaited Shibarium is likely to release around August 16.

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SHIB and BONE Price Picks Momentum

In one month, Shiba Inu (SHIB) and Bone ShibaSwap (BONE) prices have increased by 30% and 90% respectively. Whales and traders continue to show interest in the Shiba Inu ecosystem. The largest Shiba Inu whale with 101.47 trillion SHIB tokens transferred 4 trillion SHIB tokens to eight new wallet addresses.

SHIB price is currently trading at $0.00000837, up 6% in the last 24 hours. The 24-hour low and high are $0.00000770 and $0.00000848, respectively.

Meanwhile, Shibarium’s gas token Bone ShibaSwap (BONE) is currently trading 3% higher at $1.31. The 24-hour low and high are at $1.25 and $1.32, respectively.

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Varinder has 10 years of experience in the Fintech sector, with more than 5 years dedicated to blockchain, crypto and Web3 developments. A technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles and newspapers. With CoinGape Media, Varinder believes in the enormous potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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