A mysterious Shiba Inu SHIB/USD whale has made waves in the crypto world by transferring an astonishing amount of tokens following the revival of the project’s layer-2 scaling solution, Shibarium.
What Happened: The whale, whose identity remains unknown, shifted 4.64 trillion tokens, equivalent to approximately $38 million, from one undisclosed wallet to another, data from etherscan shows.
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Why It Matters: Data from Shibarium explorer reveals that the number of addresses utilizing Shiba Inu's layer-2 solution Shibarium has reached 447,076.
On August 23, Shibarium experienced relatively few transactions. However, by August 30, the daily transaction count surged to 68,402, resulting in a total of 617,492 transactions processed on the Shibarium network.
Meanwhile, over 52 million SHIB tokens were burned within the last 24 hours, according to data from Shibburn. The burning of tokens reduces the circulating supply and can potentially impact the ecosystem dynamics.
Price Action: At the time of writing, SHIB was trading at $0.00000802, down 1% in the last 24 hours, according to Benzinga Pro.
Photo by Dennis Diatel on Shutterstock
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