Main navigation

800 Billion Shiba Inu (SHIB) Moved From Shiba Staking Contract, Here's What Happened

Thu, 03/16/2023 - 14:00
article image
Yuri Molchan
Close to trillion Shiba Inu has been unstaked in light of recent news about Puppynet being clone of another project's testnet
800 Billion Shiba Inu (SHIB) Moved From Shiba Staking Contract, Here's What Happened
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

Prominent crypto tracker Whale Alert has spotted a transaction, carrying a staggering amount of SHIB — nearly one trillion of these meme coins.

They were moved to an anonymous address from a Shiba staking service.

800 billion SHIB become unstaked

According to the aforementioned source, a total of 800,215,912,624 Shiba Inu was withdrawn from a Shiba staking contract and sent to an anonymous crypto wallet. This amount of SHIB is the equivalent of $8,230,620 USD.

The Shiba Inu community has been disturbed after it was recently exposed that Shibarium beta Puppynet, released a week ago, is a clone of a fork of Rinia network. The ChainID number is the same for both networks.

Many SHIB users and stakers have started demanding explanations from lead developer Shytoshi Kusama, who stands behind SHIB, Shibarium and Shib Metaverse projects after the main founder of Shiba Inu, known under the alias Ryoshi, quit all the projects and deleted his social media accounts.

Shytoshi Kusama Names Those Who May Be Spreading FUD About Him and Puppynet

Shytoshi and Puppynet face accusations and FUD

However, as reported by U.Today, in the Shibarium Tech Telegram chat room, Kusama denied all the allegations about the "clone," stating that the same ChainID does not mean a thing since Puppynet is a beta, and there will be more testnets after that to fix all the bugs that come up.

He also stated that a lot of Shibians have been calling him a scammer in the past few weeks and trying to discredit him, even promising to dox his real name and spread this data on social media. Kusama responded that this was done by people who had been pumping other meme projects, using SHIB and Kusama's name in order to profit later on.

Now, he says, they have been dumping large amounts of BONE in order to create panic on the market.

As covered by U.Today earlier, the turmoil in the Shiba Inu ecosystem has caused some users to unstake their BONE; $5 million worth of these meme coins in total have been unstaked from a BONE staking contract, similarly to SHIB, as mentioned above.

article image
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