Shiba Inu Social Mentions Soar as Address Creation Crosses 16M %

The number of wallets connected to Shiba Inu Shibarium’s Puppynet testnet is now over 16 million, according to data from Puppyscan.

Since the launch of the Puppynet testnet on March 11, network activity within the Shiba Inu ecosystem has been rising. For context, the network processed around 3 million transactions within the last seven days, pushing its transaction volume to 13.2 million at the time of writing.

Shiba Inu Wallet Creation Rate Reach Highest Level in 3 Months

The increased transaction volume has also coincided with a period of high wallet creation. On May 27, BeInCrypto’s global news editor, Ali Martinez, shared Glassnode’s data showing that 2,538 new SHIB addresses were created on May 26. According to Martinez, this marked the highest increase in 3 months.

Shiba Inu’s Puppynet dashboard showed 16 million wallet addresses interacting with the network. This shows the high level of adoption and use among the community. The total number of blocks on the network has surpassed 1 million, and its average block time is 5 seconds.

SHIB Social Engagements Rises

According to Lunar Crash data, Shiba Inu’s rising network activity matches its soaring social metrics. The data aggregator ranked SHIB among the top 10 coins by social mentions over the past week.

Per Lunar Crash, SHIB’s social mentions reached 23,520, while its social engagements were 252.24 million over the last 24 hours. Its weekly performance showed that its social engagement rose 17.94% to 2 billion, and its mentions grew 11.13% to 171,370. SHIB had 1,160 unique social contributors per hour for the token.

When Shibarium?

On May 24, an official of the Shiba Inu ecosystem Lucie said the Shibarium’s mainnet launch should be expected before the end of the year. Lucie said Shibarium developer Shibarium 1 guessed that the mainnet launch would be in August, while Shiba Inu lead Shytoshi Kusama predicts the launch for July.

Lucie added:

“Shiba team is confident about the launch and have multiple teams working on it, including AI integration. Our estimate is for 2023, and we are not pumping anything but focusing on sustainable growth. The testing process and security audits are crucial before the launch.”

The launch of Shibarium will complete Shiba Inu’s transition from a memecoin into a project with clear utility. This could boost the value of related tokens such as SHIB, BONE, and LEASH.

SHIB is trading at $0.00000881 after increasing by 3% in the last 24 hours, according to BeInCrypto data.