New Whale Purchases 1.1 Trillion Shiba Inu, Now Holds Only SHIB Coins
The launch of Shibarium affected the Shiba Inu ecosystem due to the glitches on the network after the long-awaited event. As a result, SHIB's price declined, and the investor's trust waned.
However, according to the team, the network has been optimized and enhanced, leading to renewed investor interest as evidenced by recent whale accumulations.
GM #SHIBARMY
We've got a fresh update for you on our blog. https://t.co/PKBVls4oar
- Shib (@Shibtoken) August 22, 2023
In a new development, a new crypto Whale recently emerged, purchasing trillions of SHIB coins worth roughly $9.37 million.It is worth noting that this transaction follows only a few hours after another SHIB Whale acquired 708 billion tokens from the Gemini exchange.
Whale Purchases Shiba Inu (SHIB) Coins Worth $9.37 MillionOn Thursday, August 24, 2023. Etherscan.io data showed that the brand-new crypto Whale purchased the massive 1,158,659,145,694 SHIBs, worth about $9,350,379 ($9.37 million).
This Whale acquired many coins in a single transaction at exactly 03:10:11 PM +UTC on August 24.Furthermore, the huge purchase has positioned the anonymous wallet to rank as the 52nd-largest SHIB Whale in the ecosystem across the globe.
The latest development follows shortly after another mysterious wallet purchased 708,416,119,061 (708.41 billion) SHIB coins worth roughly $5,991,429 ($5.99 million) from the NY-based centralized crypto exchange, Gemini.
The present data on the new wallet reveals that the wallet address holds only SHIB cons and no other assets.
708,416,119,061 #SHIB (5,991,429 USD) transferred from #Gemini to unknown wallethttps://t.co/WNGQrs2RLw
- Whale Alert (@whale_alert) August 23, 2023
Following the redeployment of the Shibarium Layer 2 network, various Whales have been greatly attracted to the Shiba Inu ecosystem.
Shibarium is Shiba Inu's latest Layer 2 Solution that garnered tons of traction shortly after its launch. The network reportedly commenced full-scale block production after a short hiatus spurred by an unexpected inrush of users.
Recent data from Shibariumscan, Shiba Inu's blockchain explorer for the Shibarium network, shows that the ecosystem has performed 115,472 transactions. The blockchain explorer also boasts 47,369 active SHIB wallet addresses.
In a similar development, Bone ShibaSwap (BONE), Shibarium's native gas token, was the coin to benefit the most from the Shibarium redeployment. Notably, The BONE token price surged by 11% to $1.39 in the last 24 hours.
Crypto Whale's Purchase Could Affect Token PriceIt is worth noting that the redeployment of the Shibarium L2 Solution has resulted in Shiba Inu trending as one of the most discussed cryptos across various social media platforms.
The leading crypto aggregate platform globally, CoinMarketCap, is one of the key players to recognize Shiba Inu as the most trending digital asset in the last 24 hours.
The list of Trending Tokens changes daily on #CMCCommunity
Here's what is hot today:$SHIB$SBF$EOS$AST$NEAR
Make sure you're caught up: https://t.co/vHI1wrzF17 pic.twitter.com/kZ88oeXlBX
- CoinMarketCap (@CoinMarketCap) August 24, 2023
Additionally, KuCoin, the fifth-largest centralized crypto exchange by trading volume worldwide, has ranked Shiba Inu as the top trending token based on weekly search popularity on its platform.
Top 5 Coins by Weekly Search Popularity on #KuCoin (August 24, 2023)
- KuCoin (@kucoincom) August 24, 2023
However, the popular meme coin is still following a strong bearish trend. As of press time, CoinMarketCap's data, the SHIB token is trading at $0.000008097, down by 2.53% from the previous day's price.
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