Shiba Inu cryptocurrency (SHIB) has experienced a spike in activity as Shibarium's testnet, Puppynet, has reached a milestone of 25 million transactions.
Notably, SHIB's burn rate increased by 1,800% over the previous 24-hour period.
PuppyScan, a dedicated block explorer for the Shiba Inu network, provided data showing that the Shibarium testnet processed a total of 25.5 million transactions, with an average of about 270,000 transactions per day.
Earlier this month, Puppynet surpassed the 20 million transaction mark, with approximately 16 million wallet addresses actively transferring funds on the network.
Since then, the number of wallets on Puppynet has surpassed 17 million.
Another important metric is that the testnet processed 1.49 million blocks.
The average block time, an important parameter that measures the rate at which new blocks are added to the blockchain, is 5 seconds.
Shytoshi Kusama, lead developer of SHIB posted a 19-second video clip on Twitter, hinting at upcoming developments in the Shiba Inu ecosystem.
CryptoGlobe previously reported that major Ethereum whales hold more SHIB than any other cryptocurrency.
According to WhaleStats, a whale monitoring service, the top 100 Ethereum whales own 49.62 trillion SHIB tokens, worth about $600 million.
