Puppynet, the Shibarium testnet, has not been active over the weekend, according to a check at the Puppyscan explorer. Everything is still the same in terms of transaction volume, wallets, blocks, and other metrics as it was at the beginning of the week.
Even said, there are still a few more transactions than the 35,000,000 milestone that was reached on Monday.
The programming team is probably getting ready to launch the Shibarium mainnet at this time. In roughly a week, the launch is anticipated to occur in Canada during ETH Toronto, a component of the Blockchain Futurist Conference. The secretive developer Shytoshi Kusama, the leader of SHIB, will be one of the keynote speakers at the two-day annual event. To keep his actual identity a secret, he will give his speech using artificial intelligence.
Aside from this speech, Shiba Inu will be one of the conference’s primary sponsors, elevating it to a new level and putting it among the biggest cryptocurrency exchanges and blockchain powerhouses.
SHIB burn rate goes down
Shiba Inu burn rate operations have not been progressing well over the last 24 hours, according to the Shibburn tracking platform. With a total of 43,249,857 SHIB meme coins withdrawn from circulation and held in dead-end wallets, the burn rate has actually decreased by more than 30%.
This was accomplished by a total of 24 transactions. In contrast to today, the burn rate on Monday showed a jump of around 170%, entering the deep green zone.
Burns are anticipated to soar as the Layer 2 blockchain Shibarium becomes live on mainnet, with billions of SHIB being delivered to unspendable wallets on a monthly or even weekly basis. Each transaction on Shibarium will fuel these burning, with BONE tokens serving as transaction fees.
The Shibarium development team will set aside a percentage of each transfer fee and convert it from BONE to SHIB to be burnt later.
With only one week till the introduction of Shibarium, prices of the three coins that make up the trifecta — SHIB, BONE, and LEASH — have started to show significant increases.
