Shiba Inu and its layer-2 technology platform, Shibarium, are both seeing significant growth, with Puppynet, the beta testnet, exhibiting an incredibly rapid expansion.
Within the first week of its relaunch on March 24, Puppynet had already recorded over 100,000 wallet addresses, and this growth has continued to soar.
As of April 11, Shibarium has broken the 2.5 million transaction mark, with 373,696 wallet addresses already created, and an average block time of 328,985 blocks produced.
On April 11 alone, 890,399 transactions were processed in just one day, with Puppynet reaching its previous record of 481,151 transactions the day before.
Shiba Inu influencer Lucie has revealed that 71 different tokens based on the platform’s layer-2 technology have already been created.
Additionally, SHIB burns in March were impressive, with 6.78 billion SHIB tokens burned with 540 transactions, showing a significant increase compared to the previous months. The March burn was the highest since October 2022, with 9.05 billion SHIB burned in 2,433 transactions.
The SHIB Burn Tracker reported that over 34.92 million Shiba Inu (SHIB) were burned in three transactions, with the largest transaction coming from the Coinbase-associated wallet “Coinbase 10,” which transferred 25,313,097 SHIB to the burn address in a single transaction, causing the total burn rate to increase by 1,108% compared to the previous day.
James Wilson is a crypto writer and researcher with over 5 years of experience in the industry. He is a graduate of the University of California, Berkeley, where he studied computer science and economics. After graduating, he worked as a software engineer at a major tech company before transitioning to a career in crypto.
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