Shibarium May Take “Months” to Bring Positive Price Action

Shiba Inu (SHIB) launched the beta test net for its Shibarium layer-2 network, dubbed Puppynet, on March 11. Since its launch, the beta testnet has achieved many commendable milestones. One of those is the 5-second block time. The block time is a unit of measurement for how long it takes a network’s miners or validators to confirm a block’s transactions and create a new block in that blockchain.

For comparison, Ethereum (ETH) has a block time of about 12.13 seconds. Going by the numbers, Shiba Inu’s Puppynet seems to be able to verify blocks faster than the Ethereum network. Puppynet currently has 679,886 blocks in total, with around 4.9 million total transactions. Furthermore, the number of wallet addresses continues to reach new highs. At press time, there were about 14.22 million wallets registered on the test net.

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Can Shiba Inu deliver on its Shibarium numbers?

It is important to remember that the Puppynet is still in beta testing, whereas the Ethereum network is a fully functional robust network. Testnet and mainnet comparison numbers are vast and can be misleading. SHIB’s layer-2 still has a lot of testing to undergo, and audits to carry out. While the numbers in the test phase are impressive, they are not the conclusion. There is no guarantee that the same results will reflect on the mainnet.

Furthermore, Lucie from the Shiba Inu (SHIB) team has said that Shibarium’s release depends on “progress and audits.” The popular SHIB influencer informed the community that Shytoshi said there would be audits. Lucie highlighted the importance of safety and crash tests. And lastly, for those waiting for a price pump, she said it could take “months” for Shibarium to fully establish itself in the market. Lucie also made a comment about another popular memecoin, Pepe Coin (PEPE). She stated, “Pump crowd is more like Pepe crowd.”

At press time, Shiba Inu (SHIB) was trading at $0.00000996, down by 1.4% in the last 24 hours. Meanwhile, the number of holders went down by 0.004%, currently at 1,297,993.