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The meme-inspired cryptocurrency Shiba Inu ($SHIB) has experienced impressive growth in recent months, as indicated by a significant surge in daily new addresses during the second quarter of this year.
According to data from reputable cryptocurrency analysis firm IntoTheBlock, Shiba Inu had a strong performance in Q2. On June 27, the cryptocurrency recorded over 4,000 daily new addresses, marking a remarkable growth rate of 357% compared to the 877 daily new addresses reported on May 21. This surge in new addresses reflects the increasing popularity and acceptance of Shiba Inu among cryptocurrency enthusiasts.
Furthermore, the meme-inspired cryptocurrency has witnessed a flurry of activity with the testnet launch of its layer-2 scaling solution, Shibarium. The testnet, named Puppynet, recently achieved a milestone of 25 million transactions. PuppyScan, a dedicated block explorer for the Shiba Inu network, reported that the Shibarium testnet successfully processed an average of about 270,000 transactions per day, totaling 25.5 million transactions.
Earlier this month, it was reported that Puppynet had already surpassed 20 million transactions, involving around 16 million wallet addresses. Since then, the number of wallets on Puppynet has continued to grow, surpassing 17 million.
The increased activity and interest surrounding Shiba Inu can be attributed in part to cryptic messages from SHytoshi Kusama, the enigmatic lead developer of SHIB. Yayoi Kusama, who has played a significant role in promoting the development of Shiba, shared a video on Twitter hinting at the upcoming expansion of the Shiba ecosystem.
Cryptocurrency analyst Austin Hilton recently discussed the progress of the Shiba Inu ecosystem, including related tokens such as $BONE and $LEASH, in a YouTube video. Hilton expressed his interest in accumulating these tokens at an early stage.
Shibarium represents a major milestone for the Shiba Inu ecosystem. Currently running on the Ethereum network, Shiba Inu tokens face scalability and transaction throughput limitations. Shibarium was developed to address these challenges and provide potential solutions to enhance the overall performance of the Shiba Inu network.
According to data from reputable cryptocurrency analysis firm IntoTheBlock, Shiba Inu had a strong performance in Q2. On June 27, the cryptocurrency recorded over 4,000 daily new addresses, marking a remarkable growth rate of 357% compared to the 877 daily new addresses reported on May 21. This surge in new addresses reflects the increasing popularity and acceptance of Shiba Inu among cryptocurrency enthusiasts.
Furthermore, the meme-inspired cryptocurrency has witnessed a flurry of activity with the testnet launch of its layer-2 scaling solution, Shibarium. The testnet, named Puppynet, recently achieved a milestone of 25 million transactions. PuppyScan, a dedicated block explorer for the Shiba Inu network, reported that the Shibarium testnet successfully processed an average of about 270,000 transactions per day, totaling 25.5 million transactions.
Earlier this month, it was reported that Puppynet had already surpassed 20 million transactions, involving around 16 million wallet addresses. Since then, the number of wallets on Puppynet has continued to grow, surpassing 17 million.
The increased activity and interest surrounding Shiba Inu can be attributed in part to cryptic messages from SHytoshi Kusama, the enigmatic lead developer of SHIB. Yayoi Kusama, who has played a significant role in promoting the development of Shiba, shared a video on Twitter hinting at the upcoming expansion of the Shiba ecosystem.
Cryptocurrency analyst Austin Hilton recently discussed the progress of the Shiba Inu ecosystem, including related tokens such as $BONE and $LEASH, in a YouTube video. Hilton expressed his interest in accumulating these tokens at an early stage.
Shibarium represents a major milestone for the Shiba Inu ecosystem. Currently running on the Ethereum network, Shiba Inu tokens face scalability and transaction throughput limitations. Shibarium was developed to address these challenges and provide potential solutions to enhance the overall performance of the Shiba Inu network.
