Over the past 24 hours, the price of prominent meme coin SHIB went up by roughly 3%. This was enough to trigger sales from cryptocurrency whales.
According to the data provided by Etherscan, over the past hour, several wallets have transferred nearly six billion SHIB in several transactions to two major crypto exchanges: Binance and Uniswap.
One whale, however, did the opposite thing; they bought several billion Shiba Inu.
Whales buying and selling SHIB as price jumps
The aforementioned 6 billion SHIB were transferred to Uniswap in four transactions. The largest of them carried 2,208,284,207 and 1,472,189,471 Shiba Inu.
Around 320 million SHIB were also sent to Binance 14 wallet earlier. The SHIB transfers to these major trading platforms had a likely goal of selling. Now, that the price of Shiba Inu has risen overnight, 6 billion SHIB would be worth $64,440.
Another whale did the opposite and decided to add several billion SHIB to his meme coin stash. Over the past two hours, he made four purchases of slightly under 4,000,000,000 Shiba Inu each. Currently, he is holding 15,996,999,997 SHIB.
Shytoshi Kusama says "we're in go mode"
In a correspondence that took place on the Shibarium Telegram channel called "Shibarium Tech," the lead developer of Shiba Inu and the Layer 2 network beta Puppynet, the pseudonymous Shytoshi Kusama, provided a sort of update on the current state of work on Shibarium to the SHIB army.
"We in go mode," Kusama wrote when responding to a user who asked for updates. Aside from that, the lead developer said that "the SHIB army has plenty of updates" since all the chain activity and all the tokens developed on it are "very public."
The beta of Shibarium called Puppynet was released on March 11 and, since then, it has been utilized actively with more than 14 million wallets connected to it and over 1,000 tokens launched there.