The largest Ethereum whales are reportedly holding a significant amount of Shiba Inu tokens, valued at around $600 million. These whales collectively possess 49.62 trillion SHIB tokens. Ethereum itself remains dominant in their portfolios, with a total holding of 3.12 million ETH, valued at $5.13 billion. Additionally, these whales hold a substantial amount of other cryptocurrencies, including 788 million USDC tokens and approximately 707 million USDT tokens, valued at $789.05 million and $706.9 million respectively.
Shiba Inu’s burn rate has recently surged by almost 7,000% within a day, with over 341 million tokens burned. The cryptocurrency experienced a significant rally earlier this month, bringing over a trillion tokens back into profitability. The test network of Shiba Inu’s layer-2 Shibarium, known as Puppynet, has recorded over 20 million transactions from approximately 16 million wallets. This progress indicates a step closer to a broader release in the coming months. Shibarium represents a milestone for the Shiba Inu ecosystem, addressing scalability and transaction throughput limitations of the Ethereum network.
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