Over 3 trillion of Shiba Inu (CRYPTO: SHIB) worth $34.2 million was moved to an unknown wallet late on Thursday.
What Happened: This comes just hours later SHIB developer Shytoshi Kusama confirmed in a discord channel that one goal of Shibairum is to burn trillions of SHIB.
BOOM! Confirmed! Per #ShytoshiKusama, one goal of #Shibarium is to Burn Trillions of $Shib! pic.twitter.com/rNkGTJ2fpE
— 𝐋𝖆𝖉𝖞 𝐂𝖗𝖞𝖕𝖙𝖔 (@ShibArmy_4Life) January 26, 2023
Shibarium is a layer- 2 blockchain, which aims to bring forth fast transaction speeds, reduced costs, and bigger output possibilities. It is being constructed on the Ethereum (CRYPTO: ETH) blockchain
SHIB, LEASH (CRYPTO: LEASH) and BONE (CRYPTO: BONE) are levied to use its Layer 2 blockchain.
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Currently, it is unclear whether Kusama moved the staggering amount of SHIB.
Earlier last month, Kusama made a post on Shibarium. In it, he compared Shibarium to a sturdy pine tree that with the right care — “water, sunlight, and proper soil” — and it will survive even the harshest of winters.
Price Action: SHIB was trading at $0.00001153 down 2.50% in the last 24 hours, according to Benzinga Pro.
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