A Shiba Inu Whale Moves $38 Million Worth of SHIB Tokens
A mysterious Shiba Inu whale recently made a surprising move in the crypto community by transferring 4.64 trillion SHIB tokens, equivalent to approximately $38 million, between two undisclosed wallets. This activity coincides with the relaunch of Shiba Inu’s layer-2 scaling solution, Shibarium. As a result, the number of addresses using Shibarium has increased to 634,479.
Key Points:
- Shibarium’s transactions have spiked following a period of low activity, reaching 93,315 daily transactions after only eight days.
- Over the past 24 hours, a significant amount of 52 million SHIB tokens has been burned, effectively reducing the circulating supply and potentially increasing the value of the remaining coins.
- The impact of these events on the value and adoption of SHIB remains uncertain as the Shiba Inu community and the broader crypto world continue to monitor the situation.
What Does This Mean for SHIB?
As of now, Shiba Inu’s SHIB is trading at $0.00000796, experiencing a 3.2% decrease. The 24-hour trading volume stands at $133,299,787, according to CoinGecko. It remains to be seen how these recent developments will ultimately affect the value and adoption of SHIB.
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