Why Shiba Inu Is Back On Top 3 Holdings Of Major Ethereum Whales

Shiba Inu SHIB/USD is back among the most-held crypto under the top 100 Ethereum ETH/USD whales ahead of the much-anticipated Shibarium launch.

What Happened: According to Whalestats, SHIB ranks third among the other holdings by the top 100 ETH whales. The average amount of SHIB held is $5.3 million, at the time of writing.

This comes ahead of the much anticipated Shibarium Launch. Shiba Inu's lead developer Shytoshi Kusama on Monday made a post on Shibarium. In it, he compares Shibarium to a sturdy pine tree that with the right care — “water, sunlight, and proper soil” — will survive even the harshest of winters. 

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In a separate blog post, the team behind SHIB said that Shibarium Beta is about to be launched, and introduced some basic concepts to provide clarity to the community.

According to the blog post, through this Layer 2 blockchain, Shibarium aims to bring forth fast transaction speeds, reduced costs, bigger output possibilities and enhanced safety to the world of Decentralized Finance. Being constructed on the Ethereum blockchain, Shibarium requires that the tokens of SHIB, LEASH and BONE BONE/USD are levied to use its Layer 2 blockchain. 

Price Action: SHIB was trading at $0.00001051 down 2.42% in the last 24 hours, according to Benzinga Pro.

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