Shiba Inu Witnesses Significant Whale Activity
Recent reports have revealed that a Shiba Inu whale has transferred 4 trillion SHIB tokens to an unknown wallet. This whale activity coincided with the decline in the SHIB burn rate and the crypto asset’s price. The transaction was valued at $45.12 million and had a low gas fee. This is the second time such a large transaction has occurred in the past few days, indicating substantial whale activity surrounding Shiba Inu.
Shibarium Achieves Transaction Milestone
The Shiba Inu Layer 2 blockchain network, Shibarium, has surpassed 190 million network transactions. This milestone demonstrates the strength and activity within the ecosystem. Data from Shibariumscan.io shows that there have been approximately 192 million completed transactions on the network, with around 1.32 million active addresses contributing to this number. The daily transactions on Shibarium currently stand at about 7.53 million, showcasing the rapid growth and adoption of the meme coin.
Hot Take: Shiba Inu Whale Activity Sparks Speculation
The recent whale activity surrounding Shiba Inu has sparked speculation within the community about its implications for the market. While some may see these large transactions during a price decline as bearish, others interpret it as a sign of confidence among traders. Additionally, Shibarium’s achievement of crossing 190 million network transactions highlights its growing strength and widespread adoption. Overall, these developments contribute to the ongoing narrative surrounding Shiba Inu and its position in the crypto market.
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