Shiba Inu Price Prediction as Testnet 'Puppynet' Sees Huge Spike In Activity as Shibarium Launch Approaches – Can SHIB Reach $1?
The second most polar meme coin in the market Shiba Inu is up 2.7% in 24 hours to trade at $0.00001085 at the time of writing on Saturday. This bullish outlook may be attributed to fresh interest among investors surrounding testnet 'Puppynet' and the anticipated Shibarium launch.
Despite the intense selling pressure altcoins experienced in March, SHIB held firmly to support at $0.00001—and now bulls are concentrating on the seller congestion at $0.000011, which must come out of the way to trigger more liquidity as the token recovers to $0.00001575, February’s high.
Puppynet, Shibarium’s testnet protocol is seeing increased activity as the Shiba Inu ecosystem gears up for the anticipated release of Shibarium, a layer-2 solutions provider.
According to blockchain explorer, over 1 million transactions have been processed with an average block time of 8.3 seconds. Testnet Puppynet was released on March 11 and processed more than 200,000 transactions in the week.
The majority of the transactions occurred in the previous week, with a total of over 114,000 transactions completed within 24 hours on dates, March 28 and 29.
Investors are excited about the launch of Shibarium and the success achieved by testnet Puppynet, which has been running for almost three weeks without any glitches.
The Shiba Inu development team has insisted in the past – they are not bound by timelines but by the need to ensure a quality product is released into the market.
Analysts believe that Puppynet's activity could boost the value of the tokens in the Shiba Inu ecosystem, including SHIB and BONE as more features are added to the testnet.
Rachel Lin, CEO of SynFutures, a decentralized derivatives trading exchange argues that contrary to what many believe “the
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