Shiba Inu Layer 2 protocol Shibarium is recording a sharp increase in the number of interacting wallet addresses on its testnet.

According to PuppyScan, the number of interacting wallet addresses on Shibarium is now 13,856,413. On April 17, U.Today reported the number of wallets to be 11,113,441.

Shibarium beta “Puppynet” currently records 446,449 total transactions and 446,449 total blocks.

New projects have also indicated they are building on Shibarium. MzeDex, a new project, has decided to become part of Shibarium. While new projects are joining Shibarium, Shiba users have been urged to stay alert.

At the start of the week, Shiba Inu lead Shytoshi Kusama issued an alert to the Shiba Inu community to always do its research (DYOR) and not get scammed, as there is no official Shibarium token.

Shibarium might burn 500 tokens

SHIB BPP, a Shiba Inu-focused Twitter account, unveils his expectations for Shiba Inu (SHIB) burns via the Shibarium Layer 2 protocol. 

According to its documentation, Shibarium base fees will be split: 70% will be burned, and 30% will be set aside to maintain the network.

SHIB BPP says according to the new burn estimates he ran based on the current prices of BONE and SHIB, as well as the number of transactions on Shibarium in the past 30 days, he would be impressed if Shibarium burns 500 billion SHIB per year.

At the time of writing, SHIB was down 3.41% in the last 24 hours to $0.0000114. According to Shibburn’s Twitter, there have been a total of 250,000 SHIB tokens burned in a single transaction in the last 24 hours.

u today