Shiba Inu (SHIB) developer Shytoshi Kusama says there is growing interest in Shibarium among validators. Meanwhile, Puppynet is witnessing a notable increase in adoption following its redeployment. We have compiled the hot news about the popular meme coin for our readers.
SHIB inventor: 500 validators are interested in Shibarium
The Shiba Inu lead developer, nicknamed Shytoshi Kusama, says there is a growing interest in Shibarium among validators. According to a screenshot shared by SunshineSHIB, a Shiba Inu influencer, Kusama noted that 500 endorsers are interested in joining the Shibarium.
The lead developer said that many of these validators have already been invited to use the Shibarium Beta test-net. Kusama also noted that giving most validators early access to the protocol will help them make decisions before the official network becomes available. In this regard, the inventor of SHIB said, “…So many validators received an email asking them to use the test-net beta to help them decide if this is what they want to do.” However, Kusama noted that due to a tagging error, the message was not sent to some applicants who were interested in becoming Shibarium validators. “Last time I checked, there were 500 relevant validators,” Kusama added.
Shibarium beta sees huge growth
Puppynet, the beta test-net of Shiba Inu’s Shibarium network, is witnessing a remarkable increase in adoption following its redeployment. Testnet has processed more than 121,000 transactions since its relaunch and boasts an impressive number of wallet addresses of over 65,000.
Lucie, a well-known Shiba Inu community influencer, drew public attention to the remarkable increase in test-net’s metrics today. Specifically, at the time of disclosure, test-net processed 109,655 transactions and hosted 57,781 wallet addresses. This further underlined its impressive growth. Just two hours after the announcement, data from Puppyscan, the network’s private blockchain explorer, revealed that the number of wallet addresses had increased by over 13% from 57,781 to the current figure of 65,403.
SHIB-based PawZone denies insider trading allegations
PawZone, a project based on Shiba Inu’s Shibarium network, has officially launched its native token, PawZone (PAW). However, accusations of insider trading surfaced after the launch. JD, the founder of PawZone and a member of the Shiba Inu community, recently denied these allegations.
cryptocoin.comAs you follow, the PawZone team officially launched the token two days ago on Shiba Inu’s decentralized exchange, ShibaSwap. The launch comes nearly two weeks after the team behind the project announced plans for an upcoming ‘fair launch’ on ShibaSwap.
Shortly after launch, the token saw massive trading activity and a celebrity spike. Leading crypto price monitoring resource CoinMarketCap listed the asset a day after its launch. The asset is currently on the watchlist of 458 CMC users.
Shibarium breaks record in daily trading
Shiba Inu enthusiast Lucie Sasnikova, whose Twitter nickname is LucieSHIB, took to the post to share that the number of testers in the Shibarium is increasing rapidly. The screenshot shows Shiba Inu’s daily transaction volume on the Tier 2 network has risen above its all-time high of 41,600. Lucie Sasnikova wondered if Shibarium could beat the Tier 2 network for Ethereum, which was recently launched by Coinbase exchange Base. The average block time is five seconds, the total number of transactions so far has reached almost 110,000, and the number of participating wallets on Shibarium equals 51,781. The Shibarium test-net called Puppynet was launched on Saturday, March 11.
Number of Shiba Inu (SHIB) trillionaires increased
Last month, the SHIB token saw a notable 5% increase in the number of trillionaire holders, bringing the total number to 42. This growth has also occurred in the segment of investors holding between 1 million and 10 million SHIB tokens. The increase in the number of whale owners can have significant effects on market dynamics and SHIB price performance. The increase in the number of Shiba Inu trillionaires can be interpreted in many ways from a market perspective. On the one hand, it could indicate increased interest in the token and its growth potential. As the number of whales increases, it can create a sense of optimism among investors, which can lead to increased demand for the token and then its price to rise.
Conversely, an increase in whale activity may also be a cause for concern. With a higher concentration of wealth in the hands of a few holders, the market becomes more susceptible to manipulation and large price fluctuations. In such a scenario, a single sale by one of the whales could trigger a domino effect and lead to a significant drop in token value.
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