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According to data provided by the Etherscan tracker, over the past 60 minutes, whales have managed to transfer a whopping 44 billion SHIB. These billions of Shiba Inu were moved in 12 transactions, each carrying from one billion to eight billion SHIB.
The majority of these meme coins were either withdrawn from large exchanges or moved to their wallets from anonymous addresses as whales have been buying and selling these SHIB.
43.9 billion SHIB on move
Etherscan data shows that five billion Shiba Inu were moved to a Crypto.com wallet in two transactions, and 3.4 billion SHIB went to a Binance-linked wallet.
However, a lot more SHIB were withdrawn from such exchanges as OKX, Coinbase and Binance. Per Etherscan data, anonymous wallets transferred 3.3 billion SHIB from OKX, moved 2.8 billion from Coinbase and withdrew 12.4 billion SHIB from the Binance exchange in massive chunks (up to eight billion meme coins).
The rest of the aforementioned 44 billion SHIB was transferred between unknown wallets.
SHIB retakes leading market cap position
Over the weekend, SHIB demonstrated a sudden mighty growth as its market capitalization value surged above the $6 billion level (now standing at $6,229,704,095), and the meme coin itself made it to 12th place on the CoinMarketCap website.
On Saturday, SHIB, PEPE and XRP were spotted as the top three trending coins on the same analytics platform. Over the past week, SHIB has seen a massive price increase of more than 15%. It has burned one zero off its price and is currently trading at $0.00001056, per CoinMarketCap data.
Shibarium launch close as ever
Within one or two days, a long-awaited event is expected by the Shiba Inu community to finally occur. On Aug. 15-16, during the Blockchain Futurist Conference in Toronto, Shytoshi Kusama is likely to launch the Layer 2 blockchain for Shiba Inu called Shibarium.
As soon as it happens, the price of SHIB is expected to go through the roof; hundreds of projects have already committed to building their dApps and ecosystems on Shibarium. Each transaction will power the upcoming SHIB burns with the BONE token, which will be used as gas on Shibarium.
The testnet called Puppynet was launched on March 11, but after Aug. 5 all operations on it ceased, and the transaction count dropped to zero, where it remains now, as the community is looking forward to the Shibarium launch on mainnet.
Arman Shirinyan
Dan Burgin
Tomiwabold Olajide
