Shiba Inu Burn Rate Spikes 1800% After Shibarium Testnet Hits 25M Shows 'PuppyNet'

Shiba Inu SHIB/USD burn rate on Friday spiked 1800% in the last 24 hours, after the Shibarium testnet crossed the 25 million total transactions mark as enthusiasm grows ahead of mainnet.

What Happened:  As per PuppyScan, the dedicated blockchain explorer for Shiba Inu, at the time of this writing, the total number of transactions on the Shibarium beta testnet has surpassed 25 million, currently standing at 25,505,315.

Additionally, the number of wallet addresses involved in Shiba Inu transactions has reached an impressive figure of 17,001,839.

The testnet has processed a total of 1,483,165 blocks, with an average block time of 7.5 seconds.

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Why It Matters: This comes as Shytoshi Kusama, the lead developer of SHIB, shared a 19-second video clip on Twitter, along with a picture of the dog-head SHIB logo. 

The video which had just a few captions seemed to provide more insight into his tweet. In this video, there is some motion lettering that reads "Something is coming. Actually, we are going somewhere." 

Shibarium was designed as an L2 blockchain platform that permits the development of Decentralized Applications (DApps). 

Price Action: Shiba Inu was trading at $0.000007524, up 3% in the last 24 hours, according to Benzinga Pro.

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