- Shibarium Puppynet testnet achieves over 32 million transactions, post-pause, ahead of the mainnet launch, with high daily activity.
- Despite momentum, the SHIB burn rate decreased by 57% over the past day, as 70 million SHIB head to dead wallets, impacting recent price trends.
- Disappointment over the Shibarium mainnet rollout contributed to a 23% drop in SHIB prices, amid significant community engagement in burning activities.
The Shibarium testnet, Puppynet, continues setting records for usage and transactions even as work progresses on the mainnet launch. Puppynet recently exceeded 32 million total transactions after activity resumed following a brief pause before the Shibarium mainnet rollout at the recent Toronto blockchain conference.
Transaction levels quickly climbed back up from around 153k to over 170k daily following the restart on August 16. Over 2.1 million blocks have now been produced on the testnet as well. However, the number of connected wallets has dropped from over 17 million to 10 million.
SHIB Burn Rate Dips After Initial Mainnet Hype
While Puppynet maintains momentum, the burn rate for SHIB has slowed over the past day. A total of 70 million SHIB were sent to dead wallets in the last 24 hours, down 57% from the amount burned on Sunday.
The two largest single burns were around 22 million and 7 million SHIB. This dedicated community activity comes as SHIB prices dropped 23% in recent days amid some disappointment over the initial Shibarium mainnet rollout.
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