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The beta version of the highly-anticipated layer-2 blockchain, Shibarium, has been released and the flagship offering from the Shiba Inu [SHIB] ecosystem will be called ‘Puppynet’.
The lead developer of the project, Shytoshi Kusama said in a blog post that Shibarium will enable users to build dApps on the chain and integrate businesses with it.
A big vault for memes coins!
Shytoshi introduced a Shibarium Technology input form for those looking to make on the network. He added that attestation for validators will be released coming week, using which they could set up test bumps.
But amidst the excitement, Shytoshi had a piece of advice for the SHIB community.
He reminded them not to spend their commemorative on Puppynet as the current interpretation is only for testing purposes. Regarding the burn medium, the lead inventor mentioned that SHIB becks
would depend on the deals in the network and a new map for burned commemoratives will be integrated into the burn gate. still, data from Shibburn revealed that the burn rate declined by over 95 in the last 24 hours, with over 23 million commemoratives removed from rotation.
SHIBA INU gets the energy booster!
SHIB token became a favorite of big addresses as data from WhaleStats pointed out that it was the most traded token among the top Ethereum [ETH] whales at the time of writing.
On the other hand, SHIB’s supply on exchanges dropped, indicating that holders anticipated a rise in SHIB’s price and preferred HODLing the tokens, as per Santiment.
The network growth also increased as new addresses found SHIB lucrative.
The cumulative effect of these metrics pushed the investors’ sentiment high into the positive territory.
Shiba Inu (SHIB) is a cryptocurrency that was created in August 2020 as an Ethereum-based token. It is a meme-inspired cryptocurrency, with its branding and name inspired by the popular internet meme of the Shiba Inu dog.
As with many cryptocurrencies, the value of SHIB has experienced significant volatility since its creation. In early May 2021, SHIB experienced a surge in value, rising from a fraction of a cent to a high of over $0.00003 in just a few days. However, the value of SHIB has since declined significantly, with the price fluctuating around $0.000007 in recent months.
It’s worth noting that the cryptocurrency market is highly speculative and can be influenced by a variety of factors, including investor sentiment, global events, and regulatory developments. As such, the value of SHIB, like all cryptocurrencies, is subject to rapid and unpredictable changes.