11M Transfers: SHIB Poised for Bullish Divergence with Puppynet

• Shibarium L2 ‘puppynet’ testnet hits two crucial milestones.
• Shiba Inu (SHIB) has inked 2.2% in the last 24 hours, but there’s a catch.
• Shibarium launch date revealed; devs in ShibaSwap 2.0 DEX talks.

‘Puppynet,’ the prelude to Shibarium L2 mainnet, soars in popularity. The testnet reached the milestone of 11,172,752 transactions at a five-second average block time, which is distinctively faster than the usual Ethereum (ETH) transaction. 

A tsunami of transactions on the Shibarium Beta testnet ‘puppynet’ confirms that the testing is going smoothly. Still, many crypto enthusiasts on Twitter and Discord are frustrated about Shibarium’s mainnet launch. Fortunately, a Shibarium dev team member declared they are “speeding up the release” for Q3 of 2023.

Wen #Shibarium – @shibarium_ opinion pic.twitter.com/D4wKJqmTOb

— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) May 23, 2023

Potential Shibarium Launch Date Revealed

According to rumors on Crypto Twitter, the speculated launch date for the mainnet of Shiba Inu’s Layer-2 is Q3 of 2024. This was later confirmed in the CertiK X SHIB Token Ask-Me-Anything (AMA) on Discord, where one of the Shibarium admins exclaimed that August is the most likely month for launch. 

The roadmap aligns well with SHIB: The Metaverse dropping in Q4, powered by Shibarium. The Unreal 5 Engine-driven virtual world for the SHIB Army was already presented in this year’s SXSW Experience in Austin, Texas, with critical acclaim by Forbes.

Many independent developers are working on dApps for the Shibarium blockchain. Developers previously applied on Shibarium Tech via the intake form and were later handed out personal invitations to build on Shibarium by email. 

Latest updates on #Shibarium
A spokeperson from the team said that testing is going well, and they are speeding up the release and, in his opinion (not a fact), August might be a good target for release.#SHIBA #Crypto #BONE #LEASH pic.twitter.com/FJX4ZpK4Fl

— SHIB INFORMER (@ShibInformer) May 23, 2023

On the Flipside

• A bullish divergence can be reversed with two bearish on-chain signals for SHIB in net network growth and large transactions.
• SHIB on-chain signals turned neutral on concentration by large positions holders in the money without any solid bullish indicators.

Why This Matters

A Layer-2 scaling solution can provide more utility and does not depend on Ethereum’s smart contract.

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