The meme-inspired cryptocurrency Shiba Inu ($SHIB) has experienced remarkable growth in recent months, with a surge in daily new addresses during the second quarter of this year.
Data from IntoTheBlock, a prominent cryptocurrency analytics firm, reveals that on June 27, the daily new addresses for Shiba Inu exceeded 4,000, marking an astounding 357% increase compared to the 877 new addresses recorded on May 21.
Additionally, Shiba Inu has witnessed a flurry of activity on its layer-2 scaling solution testnet, Shibarium.
The testnet, called Puppynet, recently achieved a significant milestone of 25 million transactions.
PuppyScan, a dedicated block explorer for Shiba Inu’s network, reports that Puppynet processes approximately 270,000 transactions per day, contributing to the overall growth of the ecosystem.
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Earlier this month, CryptoGlobe reported that Puppynet had surpassed 20 million transactions, with around 16 million wallet addresses involved in fund movement on the network.
Since then, the number of wallets on Puppynet has surpassed 17 million, indicating increasing interest and engagement within the Shiba Inu community.
Part of the surge in activity and interest can be attributed to a cryptic message shared by Shytoshi Kusama, the enigmatic lead developer of SHIB.
Kusama, who has played a pivotal role in advancing the development of Shiba Inu, posted a 19-second video clip on Twitter hinting at upcoming developments within the ecosystem.
Crypto analyst Austin Hilton delved into the developments surrounding the Shiba Inu ecosystem, including its associated tokens $BONE and $LEASH, in a recent YouTube video.
Hilton revealed his accumulation of the former token, shedding light on the growing interest among enthusiasts and investors.
Shibarium represents a significant milestone for the Shiba Inu ecosystem, as its native token currently operates on the Ethereum network.
While Ethereum is renowned for its high level of security and decentralization, it faces limitations in terms of scalability and transaction throughput.
The implementation of Shibarium addresses these concerns and paves the way for a more efficient and scalable infrastructure for the Shiba Inu ecosystem.
Overall, Shiba Inu’s explosive growth in daily new addresses and the milestone achieved by the Shibarium testnet highlight the increasing popularity and potential of this meme-inspired cryptocurrency.
