Shiba Inu’s Shibarium Gets Major Update: What’s Changing?

The Shiba Inu team has released a new upgrade for both Puppynet (Shibarium’s testnet) and Shibarium mainnet nodes. The alert, shared by Shiba Inu-focused X community account “Shibarium updates,” urges node operators to take urgent action by following official documentation and implementing the new updates.

In May, it was made known that MetaMask Support would roll out a fix in version 7.46.0 or 7.46.1 to address the RPC error affecting mobile users on Shibarium. This update resolves issues caused by unsupported EIP-1559 methods (eth_maxPriorityFeePerGas) on Shibarium’s RPC, which were blocking transactions from MetaMask Mobile.

Last month, the Shiba Inu team resolved mainnet snapshots that were temporarily missing from the Shibarium snapshots page.

In other Shiba Inu updates, the ecosystem’s DeFi Toolkit just got an upgrade. An enhanced Shiba Inu DeFi Toolkit just dropped, featuring concentrated liquidity, new reward layers and more effective ShibTorch burns. With ShibDAO now in play, the community now has a say in how these tools evolve.

What’s happening?

According to the most recent count, the Shibarium network has executed 1,202,647,260 transactions. Total blocks have crossed 11 million, with the most recent total being 11,371,567. Total addresses now stand at 263,796,105. Daily transactions totaled 710,280.

Seventy-nine percent of Shiba Inu (SHIB) addresses are now classified as long-term holders, according to recent on-chain data. This paints a positive picture for SHIB, suggesting that a sizable chunk of the investor base is holding firm despite market volatility.

A long-term holder refers to an address that has held a crypto asset for more than one year, with nearly 8 out of every 10 SHIB holders falling into this category.

At press time, SHIB was down 0.99% in the last 24 hours to $0.00001295 after reaching a low of $0.00001194 early Friday as fresh uncertainty on global markets sent major cryptocurrencies tumbling, wiping out nearly $1 billion in leveraged bets.