Shiba Inu’s Shibarium Enters Beta Phase, Developer Outlines Rough Timeline for Completion

Test Network "Puppynet" Expected to Run for Two Months, Allowing for Bug Fixes and Ecosystem Development; "Whale" SHIB Holdings Drop with Release of Beta Version

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Shiba Inu Inu’s (SHIB) lead developer, Shytoshi Kusama, provided a rough timeline for the completion of the beta phase of the Layer 2 project, Shibarium, which is eagerly awaited by the Shiba Inu community.

Specifically, Kusama noted that Shibarium’s test network, called “Puppynet,” is expected to be up and running for about two months, adding that the testing period may be extended until July of this year.

As he explained, this period will be particularly useful for Shibarium, as it will allow its developers and the team that designed it in general to correct any system bugs that may arise.

“We will build systems and chase bugs. I guess two months, but it could be much longer, four months,” said Shytoshi Kusama.

Beta version released

Shibarium is a level-2 protocol, the Shiba Inu ecosystem, built on top of Ethereum (ETH). Its design is similar to Polygon (MATIC).

Last week, we officially released the beta version of Shibarium, better known as “Puppynet“, allowing beta testers to explore the test network. Kusama warned that the coins in the beta version of Shibarium are not real and stressed that users should not spend their SHIB trying to collect them.

Once testing of the beta form is complete, Shibarium will create a new ecosystem of custom coins that can be traded using Bone ShibaSwap (BONE) to pay fees.

The new data for SHIB holders

The number of SHIB tokens held by “whales” dropped by 10 trillion on March 11th, the day the long-awaited public beta of Shibarium was released.

Currently, they hold 250.66 trillion SHIB, not including the address where the tokens are sent to be burned.

The largest token holders, 14 of them, now reportedly hold 250.66 trillion SHIB, which is 25.5% of the initial offering and 45.57% of the current amount if you exclude the burn address.

On the other hand, the lower tier of SHIB holders, slightly smaller than the “whales”, remains at about the same level.

It includes a total of 40 addresses that now hold 12.36%, equivalent to 121.52 trillion SHIBs.

Interestingly, these investors started Monday with a balance sheet value of 123.16 trillion SHIBs, then emptied out a bit mid-week and bought back 10 trillion SHIBs on March 11th.

Finally, retail investors welcomed the beta version of Shibarium with less SHIB than the day before, namely 230 billion less.

With the new data, this is the second largest group of SHIB holders, with a combined balance of 200.7 trillion tokens.

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