How Shibarium Testnet’s Significant Progress Paves Way for Mainnet

As testing comes to a close, Shiba is ready for the limelight at this year’s edition of Blockchain Futurist Conference.

A Shiba Inu puppy walking down a desert path, followed by an adult Shiba Inu.
Created by Gabor Kovacs from DailyCoin
  • Shibarium Beta strikes two new milestones ahead of mainnet launch.
  • ETH Women announces SHIB Token as an Official Terabyte Sponsor.
  • New Shiba Inu whales roll in despite a drop in large transactions.

The Summer of Shibarium continues in full swing with multiple unlocked achievements for Shibarium Beta. The testnet network, dubbed ‘puppynet,’ hit the 30 million transaction mark on July 16th, 2023. Two days later, another half a million more transactions and another milestone – 17 million registered wallets. 

Shibarium Beta hype returned after Shytoshi Kusama released a blog series that introduced the Worldpaper. The refurbished website now presents a comprehensive picture of Shiba Inu’s (SHIB) utility and the movement behind it.

Great Expectations at the Blockchain Futurist Conference

The ETH Toronto and ETH Women annual crypto conferences in Canada next month are set to unleash at least a few new products by SHIB Token. As previously unraveled by the mysterious lead developer Shytoshi Kusama, $TREAT, the fourth token in the Shiba Inu Ecosystem, is likely to launch during the event.


Kusama acknowledged the importance of such recognition by prominent players of the cryptosphere: “This level of sponsorship puts us alongside larger exchanges and projects and solidifies our stance as a major player in crypto.” He promised an AI-based live interview and reminded the Shiba Inu crowd about one historical event the community’s been waiting for – the Shibarium L2 mainnnet launch.

ETH Whales Make Boss Moves Amid Shibarium Hype

Ahead of the highly anticipated event in Canada, blockchain data unravels a change in whale behavior. To illustrate, one particular whale added a colossal amount of 4,151,743,838,561 in three transactions, worth $32 million 24 hours ago.

According to EtherScan, this was made in three transactions, and the whale quickly entered the TOP 30 largest Ethereum whale list. However, the overall on-chain signals point to an average accumulation of $SHIB, slightly on the bearish side. 


This could mean that bears are trying to regain control, and the Doji pattern will likely repeat in the next cycle. Both $SHIB and $BONE see a 2-3% decline in large transactions, which indicates cautious behavior by the TOP 100 ETH whales.

At press time, Shiba Inu is changing hands at $0.00000777, according to CoinGecko. SHIB broke through the phased consolidation last week as the bulls catapulted the canine coin to the weekly high of $0.00000838. However, the bullish divergence didn’t stick, as SHIB got rejected at critical resistance and retraced the gains.

On the Flipside

  • The cheapest tickets to the two-day Blockchain Futurist Conference in Canada, Toronto, cost $699, with an increase to $750 starting Tuesday.
  • Shibarium gas fee token Bone ShibaSwap (BONE) dropped by 4.4% in the last 24 hours due to a massive sell-off of Celsius-linked crypto assets.

Why This Matters

The Blockchain Futurist Conference is the largest Web3 event in Canada, gathering prominent crypto figures and enthusiasts from around the globe.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.