Shiba Inu: Is This The Official Nod For Shibarium's Debut?

Shiba Inu: Is This The Official Nod For Shibarium’s Debut?

Time Stamp: August 9, 2023 5:00 AM
Source Node: 2812239

In a move that has sent ripples through the Shiba Inu community, Puppynet, the beta testnet for Shibarium, has seen a complete transaction freeze over the past 96 hours, as per the latest data from Puppyscan. This unexpected halt in activity, which began on August 5th, has intensified speculations regarding the imminent launch of the Shibarium mainnet.

Puppyscan’s latest statistics paint a vivid picture: Puppynet has recorded an impressive 35.044 million transactions, maintained an average block time of 6.4 seconds, processed approximately 1.989 million blocks, and boasts a robust 17.063 million wallets. Notably, the network had been consistently confirming an average of 250,000 transactions daily before this abrupt halt.

Shiba inu Puppynet
Shiba inu Puppynet | Source: Puppyscan

Many Shiba Inu enthusiasts are interpreting this as a sign that the beta phase of Shibarium, known as Puppynet, is wrapping up in anticipation of the Shibarium mainnet’s grand unveiling at the Blockchain Futurist Conference 2023, scheduled for August 15th and 16th. However, it’s worth noting that the Shiba Inu team has yet to make an official statement confirming these speculations.

The Plot Thickens For Shibarium

In parallel to these developments, Shytoshi Kusama, the lead developer of Shiba Inu, has dropped numerous hints about a timely Shibarium launch in recent weeks and months. In a blog post from July 31st, Kusama announced that with the incoming launch of Shibarium, “in the next few days you will notice that we will INT THE REMAINING SUPPLY OF BONE and RENOUNCE THE BONE CONTRACT so that no further minting will be possible.”

He further elucidated the pivotal role of BONE in the upcoming system, highlighting its significance for validators, its function as a gas token for Shibarium, and its role in technology governance. Moreover, in a bid to bolster the Shiba Inu ecosystem, the team has rolled out several initiatives. These include the Shibarium SSI (Self-Sovereign Identity) and the public testing launch of the Shibarium beta bridge.

But Kusama already provided the biggest clue in a blog post on July 6 where he hinted at the potential release of the eagerly awaited layer 2 during the ETHToronto and ETHWomen hackathons, slated for August 15-16, 2023 in Canada. “The event holds special significance as it coincides with the third anniversary of Shiba Inu and takes place in the birthplace of Ethereum,” Kusama noted.

Furthermore, Kusama announced the Shiba Inu ecosystem’s sponsorship for the official hackathons, ETHToronto and ETHWomen, and their role as the title sponsor for the upcoming Blockchain Futurist Conference. In a groundbreaking move, Kusama will address the conference via artificial intelligence technology, where the “world paper” of the Shiba Inu ecosystem will be showcased, along with all Shib branded projects and Treat. Remarkably, the lead dev also teased, “It’s also highly likely we will discuss and even release our long awaited L2 Shibarium.”

And there’s more hint from today: Kusama has once again suspended Shibarium’s official Telegram channel. This move mirrors his previous action of halting the Telegram channel just before the Shibarium testnet, PuppyNet, was launched in March.

Shiba Inu Price

At press time, the Shiba Inu price was at $0.00000983, making a second attempt to break the 38.2% Fibonacci retracement level at $0.000001. The price level served as strong support from mid-March to mid-May, so more bear pressure can be expected at this point. If a breakout succeeds, it could mean bullish momentum and push the price towards $0.00001114.

Shiba Inu price
SHIB rises towards 38.2% Fibonacci, 1-day chart | Source: SHIBUSD on TradingView.com

Featured image from Swyftx Learn, chart from TradingView.com

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