Whales Shiba Inu (SHIB) Shifts $4.6T, Anticipating Recovery

Whales Actively Trading Shiba Inu and BONE Tokens After Shibarium Relaunch

Shiba Inu (SHIB) and BONE tokens are seeing active trading by whales following the recent relaunch of the Shibarium platform. Shytoshi Kusama, lead developer of Shiba Inu, has promised to scale Shibarium by 1500% and make improvements to its security and utility. Recently, a whale transferred 4.6 trillion SHIB tokens, raising questions about the potential recovery of SHIB and BONE prices after a recent dip.

Whale Transfers 4.6 Trillion Shiba Inu

A whale recently moved 4.61 trillion SHIB tokens worth $35 million from crypto exchange Bitvavo.
This unknown wallet’s movement of trillions of SHIB has generated excitement in the community.

Signs of Bullish Movement in Prices

Whale activity involving SHIB indicates a potential upcoming bullish movement in prices, leading some to believe it’s a good time to buy.
Previous analysis of recent transactions on Etherscan revealed that this same whale has been moving 4.6 trillion SHIB for over a month.
The presence of a Shibarium mainnet validator token transaction suggests a possible connection to the Shibarium validator.
To become a validator, users must lock at least 10,000 BONE tokens.

Shibarium Reaches Over 1 Million Wallets

Despite pressure on Shiba Inu ecosystem tokens, the reopening of Shibarium has resulted in over 1 million wallets being created.
This indicates a high demand for the Shibarium network and potentially a boost in prices.

SHIB and BONE Prices Facing Pressure

Currently, SHIB price has fallen 2% in the past 24 hours and is trading at $0.0000077.
BONE price is trading at $1.08, down 0.5% in the last 24 hours after a small recovery.

Hot Take:

The active trading of SHIB and BONE tokens by whales after the Shibarium relaunch indicates potential upward momentum in prices. With over 1 million wallets created on Shibarium, there is a clear demand for the network. However, the recent dip in prices and ongoing pressure on SHIB and BONE prices suggest some uncertainty. It will be interesting to see if the whale movement and increased adoption of Shibarium can lead to a recovery in prices.