In an effort to uplift the Shiba Inu (SHIB) network amidst the declining price of the meme coin, the lead developer, Shytoshi Kusama, took to Telegram to address the prevailing FUD (Fear, Uncertainty, and Doubt) in the crypto market. During this interaction with the Shib Army, Kusama provided updates on the ecosystem’s development and shared exciting news about an upcoming major release scheduled for July.
Kusama hinted at the release of a trailer for a new addition to the Shiba Inu ecosystem, generating anticipation among the community. The message also indicated that the project is planned to be released in early July, suggesting that significant developments are on the horizon. The developer’s communication aimed to restore hope and enthusiasm within the community, signalling that there are positive developments to look forward to.
“In fact, when the time is right, the next ‘something is coming’ trailer will blossom into a showcase of the next addition to our ecosystem and slated for early July,” Kusama noted.
While specific information about the project remained undisclosed, there was speculation among individuals that Shibarium, a layer-2 network, could be released earlier than expected. The anticipated launch of Shibarium is projected to take place in August.
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More Than 20 Million Transaction Recorded by Shibarium Beta
Shibarium, even before its mainnet launch, has generated significant excitement. During the past month, the Puppynet Beta Testnet of Shibarium has experienced a notable surge in transaction volume. Participants and users of the testnet have actively utilized the platform, resulting in a substantial increase in the number of transactions being carried out. The transaction volume has seen a remarkable 157% growth compared to the previous month, reaching a milestone of 20.47 million transactions. Currently, the network processes approximately 491,994 transactions per day.
Despite the positive developments and increased transaction volume in Shibarium, the price of Shiba Inu did not demonstrate bullish behaviour. As of the time of writing, the meme coin was trading at $0.000006634, experiencing a daily decline of 1.40%.
