Whales bought more than 1 trillion SHIB in anticipation of the launch of Shibarium
Date: 2023-07-31 Author: Karina Ziganova Categories: BLOCKCHAIN
Shiba Inu whales are back in the game: in recent weeks, they have purchased SHIB tokens worth about $9 million.
The outburst of interest of major players in the memecoin came at the announcement of the developers about the imminent debut of the second-level (L2) solution Shibarium.
The Shibarium bridge is under testing
According to Santiment, since June 4, addresses with a balance of 10 million to 100 billion SHIB have purchased another 1.11 trillion tokens. To date, the total amount of funds in these wallets is 32.49 trillion coins worth about $265.73 million.
The catalyst for increased interest was innovations in the Shiba Inu ecosystem. Ahead of the official release of Shibarium, developers have launched a test bridge connecting the L2 blockchain to Ethereum, which will simplify the transfer of assets between the two networks.
The first indicators of the Shibarium testnet, meanwhile, look very promising. Despite a slight decrease in the number of daily transactions since mid-July, Puppyscan data shows more than 33 million transactions, 17 million addresses and 1.89 million blocks.
Thus, the upcoming launch of Shibarium can transfer Shiba Inu from the status of a meme coin to the category of assets with real utility.
SHIB-related tokens have increased in price
Over the past 24 hours, the price of SHIB has increased by 3.4%, amounting to $0.00000851 at the time of writing. The market capitalization of the memecoin asset exceeded $4.9 billion, ahead of such well-known assets as Bitcoin Cash and Avalanche in the cryptocurrency ranking.
The BONE and LEASH tokens associated with the Shiba Inu ecosystem also significantly increased in price - over the past day, their quotes soared by 6.7% and 8.9%, respectively.
