Shiba Inu has seen significant whale activity in the last 24 hours, sparking speculation within the crypto community.
According to reports, a Shiba Inu (SHIB) whale made a significant move, transferring around 4 trillion SHIB tokens to an unidentified wallet. This activity coincided with a decrease in the SHIB burn rate and a drop in the price of the crypto asset.
The on-chain tracker Whale Alert revealed that the transfer was initiated by an unknown wallet, which moved a staggering 4,239,147,213,294 SHIB tokens to another unnamed wallet address. Despite the transaction’s high value, the associated gas fee was unusually low.
This is the second such massive transaction involving trillions of SHIB tokens in a matter of days. On December 24, Whale Alert reported another significant move, this time involving the transfer of 4.25 trillion SHIB between wallets, raising questions and speculation within the Shiba Inu community.
More than 8.4 trillion SHIB tokens have been transferred between unknown wallet addresses in just two days, sparking speculation about potential market implications.
The transfers during a period of price decline have some wondering if traders are showing increased confidence in Shiba Inu’s market prospects.
Shibarium, Shiba Inu’s Layer 2 blockchain network, has reached a significant milestone by surpassing 190 million network transactions. This indicates that the Shiba Inu ecosystem is active and strong.
According to Shibariumscan.io data, the total number of completed transactions on the network has reached approximately 192 million, with around 1.32 million active addresses contributing to this significant figure.
The Shibarium network currently has around 7.53 million daily transactions, demonstrating the network’s growth and adoption.
Despite the whale activity and network achievements, Shiba Inu’s price has dropped 1% in the last 24 hours and is currently trading at $0.00001067.
According to CoinMarketCap data, trading volume has also decreased by 5%, standing at $185.31 million. As the Shiba Inu community watches these developments, discussions about the possible implications for the meme coin’s future performance continue.