Shiba Inu Whale Moves 4.6 Trillion SHIB Tokens: Shibarium Mainnet Under Fail-Safe Mode
A whale has transferred 4.6 trillion Shiba Inu (SHIB) tokens from one unknown wallet to another, according to popular whale tracking service Whale Alert. Meanwhile, the highly anticipated Shibarium mainnet, developed by Shytoshi Kusama, is currently in fail-safe mode due to high traffic.
Key Points:
- The Shibarium mainnet is preparing to reopen after testing and tweaking parameters.
- Additional validators are going live, increasing security and enabling more BONE token staking.
- An analysis of recent transactions revealed a single entity behind the transfers of 4.6 trillion SHIB tokens.
- The SHIB burn rate has increased by 1300% in the past 24 hours.
- SHIB and BONE prices remain volatile during the Shibarium chain review.
Despite the ongoing testing and review, SHIB price has fallen by 1% in the past 24 hours, currently trading at $0.0000079. On the other hand, the price of BONE has increased by 1% after news of Shibarium reopening, currently trading at $1.20.
Hot Take
The transfer of 4.6 trillion SHIB tokens by a whale and the ongoing development of Shibarium are impacting the Shiba Inu ecosystem. While the SHIB burn rate has surged, SHIB and BONE prices remain volatile. It will be interesting to see how the reopening of Shibarium and the increased security measures affect the future of the Shiba Inu project.
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