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40 Billion Shiba Inu Scooped up by Whales as Shibarium Sets Major New Records

Wed, 05/24/2023 - 13:11
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Yuri Molchan
Over past hour, whales have grabbed nearly 40 billion Shiba Inu on dip
40 Billion Shiba Inu Scooped up by Whales as Shibarium Sets Major New Records
Cover image via stock.adobe.com

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According to data shared by Etherscan, within the past hour, owners of anonymous wallets have moved nearly 40 billion Shiba Inu coins to and from top crypto exchange platforms.

Whales move 36.5 billion SHIB

Several massive transactions were spotted by Etherscan over the past 60 minutes. Six transfers carried mostly lumps of 6 billion or 6.4 billion SHIB. The smallest one here moved 1.5 billion Shiba Inu. The two largest ones moved 9 billion meme coins.

Among these billions of SHIB, 13 billion were bought and withdrawn from the Crypto.com exchange. A total of 1.5 billion were purchased on KuCoin and also withdrawn to a cold wallet.

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Image via Etherscan

A total of 6.1 billion Shiba Inu tokens were sent to a Binance wallet, and 6.5 billion SHIB were moved to OKX â€” most likely to be sold.

The amount of 36,500,000,000 SHIB is the equivalent of $316,090, according to the present SHIB/USD exchange rate.

Shibarium reaches new milestones

Recently, Layer 2 network Shibarium, and its testnet by the name Puppynet, has reached several new important milestones, which signifies that the utility of Shibarium is growing fast.

In particular, the total number of transactions conducted on Puppynet has surpassed 11.5 million. The number of connected crypto wallets is approaching the 16 million mark.

Related
Shibarium Launch Closer Than You Expect, We Are Speeding It Up: SHIB Developer

Here's when Shibarium launch is expected

A content marketing specialist of the Shiba Inu ecosystem, Lucie, took to Twitter to share the news about the estimated date of Shibarium's release.

Citing one of the developers, called Shibarium1, she expects the launch to take place in Q3 this year. Earlier, Shibarium1 named August as a likely time for that, and Shytoshi Kusama, the lead developer of Shiba Inu, named July.

Lucie stressed that there are several teams working to launch the mainnet with AI integrated in it. The team is not pumping SHIB ecosystem tokens, she said, but are they are "focusing on sustainable growth." She concluded that the estimated time of the launch is Q2-Q3 this year, adding that the "testing process and security audits are crucial before the launch."

However, Lucie, also tweeted that if anything in the testing goes wrong, the release may happen later. "It's being built - it's not made from magic box," she added.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.