• Shibarium, the layer-2 blockchain from Shiba Inu [SHIB] ecosystem has been released in its beta version.
• SHIB’s value increased to $0.00001033 at press time and it was the most traded token among the top Ethereum whales.
• The lead developer of the project reminded users not to spend their tokens on Puppynet as the current version is only for testing purposes.

Shibarium Network Launches Early Beta Test

The beta version of the highly-anticipated layer-2 blockchain, Shibarium, has been released by the Shiba Inu [SHIB] ecosystem and will be called ‚Puppynet‘. Technical indicators sided with a SHIB recovery at press time, pushing its value up 3% since news of the release was made public.

Burn Mechanism and Network Growth

Data from Shibburn revealed that burns have declined by over 95% in last 24 hours with over 23 million tokens removed from circulation. On the other hand, SHIB’s supply on exchanges dropped as holders expected a rise in price and chose to HODL instead. The network growth also increased with new addresses joining in anticipation of a potential bull run.

Shytoshi Kusama’s Advice to Community

Lead developer Shytoshi Kusama introduced an intake form for those looking to build on Shibarium and mentioned that documentation for validators will be released next week. He advised users not to spend their token on Puppynet as it is only meant for testing purposes currently.

WhaleStats Data

WhaleStats data pointed out that SHIB was the most traded token among top Ethereum whales at press time indicating significant demand for this cryptocurrency amid its current recovery phase.

Conclusion

The launch of Shibarium Network marks yet another milestone achieved in decentralized networks and opens doors to more opportunities within this expanding space while giving existing projects an opportunity to grow further through integrations with this layer-2 blockchain network.