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The data is clear and intriguing days may be on the horizon for Shiba Coin investors in the medium term. However, these days it has been overshadowed, especially with low market cap meme coins becoming the center of attention since the beginning of May, and the collapse on May 8th dashed hopes. Nonetheless, cryptocurrencies continue to be a more clear profit-yielding field in the medium and long term.
The Future of Shiba Coin
What is the best price catalyst for a meme coin? Of course, it’s when the community suddenly pumps it up on social media with great enthusiasm. However, this is changing. As seen with PEPE Coin, it’s not as sustainable as it used to be. Shiba Coin is already working to change this by building its energy in the bear market. The best price catalyst for it will be the steps it will take related to its new and existing products. As a meme coin, it will increase its value by directing its community towards its own products. This is something Dogecoin and others dreamed of, but Shiba Coin has accomplished.
A meme coin that yields benefits sounds fantastic. For this, the Shibarium testnet was launched, and current data suggest that no guide is needed for what seems to be coming. When the launch happens, if the Shiba Coin community can continue this excitement, we may see serious price movements.
The Current Status of Shibarium
According to blockchain data tracker Blockscout, Puppynet has carried out over 9.5 million transactions since its launch in March. Shibarium, a layer2 protocol built on Ethereum (ETH), designed to create fast and inexpensive scalable solutions like Polygon (MATIC), is set to officially launch in the second half of the year, even though no specific date has been set.
The number of transactions made over the test network has shown a significant increase since its launch. This intensity of interest suggests that Shibarium may have serious consequences for the Shiba Coin price in the future. Blockscout also reported that about 16 million wallet addresses have interacted with Puppynet so far and that transaction fees are extremely sustainable.
