Something big is going on behind the scenes for Shiba Inu. The developers are obviously working on something big, though they haven’t revealed what it is yet.
Shiba Inu Telegram admin Ragnar Shib wrote via X (formerly Twitter): “Something is cooking in Shibarium Testnet,” and shared a screenshot of the Puppynet blockchain explorer. The image shows that transactions on the Shibarium testnet have skyrocketed suddenly to over 412,000 transactions yesterday.
Shibarium Testnet Activity Skyrockets
Ragnar also posted today via X, “big announcement,” and shared a screenshot from the Discord channel of Shiba Inu. There, Davinci Jeremie, an early Bitcoin adopter and well-known crypto influencer, stated: “The information available at https://puppyscan.shib.io/ indicates ongoing development and activities by developers on Shibarium. Keep an eye on this. @here.”
A detailed analysis of the blockchain explorer data also reveals further details: after not a single transaction had been carried out on the Shibarium testnet in recent weeks, since November 9 to be precise, a staggering 412,223 transactions took place yesterday. Remarkably, this is significantly more than at the end of October, when an average of 240,000 transactions per day took place on the testnet per day.
The number of active accounts has also jumped from 0 over the last three weeks to 360,522 yesterday. New accounts, on the other hand, have remained at 0, as in the previous weeks. This could indicate that existing accounts are being used by developers to test a new technology.
Moreover, it is also noticeable that the transaction costs rose from 0 to 17.393 BONE yesterday. What is strange, however, is that the “transactions success rate” was 0 yesterday, even though so many transactions were carried out.
Last but not least, it is also observable that the average block size in bytes rose rapidly yesterday, namely to 14,646 bytes. This is significantly higher than at the end of October when it was between around 3,900 and 8,500 bytes.
What Is Cooking For Shiba Inu?
For the Shiba Inu community, the guesswork is now beginning as to what could be behind the sharp increase in transactions on the Shibarium testnet. The hottest tip, however, could be ShibaSwap 2.0.
The decentralized exchange (DEX) has long been rumored to find a home in Shibarium, but details on the progress of the migration to Shibarium have been sparse of late. Shiba Inu chief developer Shytoshi Kusama last commented on the development progress and current projects for Shibarium at the end of August.
Kusama announced that the decentralized exchange is being prepared for migration to Shibarium. But with ShibaSwap as the first item on the migration agenda, Kusama also emphasized that the development of Shibarium is still at an early stage.
Just recently, Shiba Inu marketing lead Lucie remarked on ShibaSwap. She said via X: “Why isn’t ShibaSwap 2.0 available yet? ShibaSwap 2 is envisioned to transform into a sophisticated Decentralized Application (Dapp) […]This broader vision positions SS2 as a comprehensive platform, going beyond the limitations of a traditional decentralized exchange.”
At press time, the SHIB price stood at $0.00000823.
Featured image from Shutterstock, chart from TradingView.com
Source: https://bitcoinist.com/shiba-inu-major-news-shibarium/