Shiba Inu Whales Accumulate Trillions of Coins
Shiba Inu, a popular cryptocurrency, is seeing an influx of whales accumulating massive amounts of SHIB tokens. Two separate transactions were noted by the whale monitoring account Whale Alert, indicating the presence of new whales in the market. The first transaction took place on August 6th, with a whale purchasing 4,412,252,578,938 SHIB tokens, equivalent to $40.6 million. The second transaction occurred on August 7th, with a different whale buying 4,367,252,578,938 SHIB tokens, valued at nearly $40 million.
Possible Reason Behind Accumulation
The accumulation of SHIB tokens by these big accounts may be attributed to the anticipated launch of Shiba Inu’s own blockchain network, Shibarium, which is expected to happen this month. The Shibarium Beta Bridge has already been made available for public testing, suggesting progress towards the upcoming launch. In June, a lead developer of the Shiba Inu ecosystem revealed that Shibarium will introduce interesting functionalities, such as the ability to link NFTs to real-world assets for authentication and proof-of-ownership.
Hot Take
The accumulation of SHIB tokens by whales could indicate a growing confidence in Shiba Inu’s future prospects. The launch of Shibarium and its unique features have likely attracted the attention of these investors, who are looking to capitalize on the potential growth and value of the cryptocurrency. As Shiba Inu continues to make waves in the market, it will be interesting to see how these developments unfold and what impact they will have on the crypto landscape.
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