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Shiba Inu (SHIB) Records 1,173% Large Holder Inflows in Epic Week

Sat, 09/02/2023 - 14:03
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Tomiwabold Olajide
Trillions of SHIB flow into whale wallets in epic Shiba Inu week
Shiba Inu (SHIB) Records 1,173% Large Holder Inflows in Epic Week
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Shiba Inu is seeing an epic week so far, given the successful relaunch of the Layer 2 Shibarium blockchain at the week's start.

In a final scaling update at the very start of the week, Shiba Inu lead Shytoshi Kusama announced that Shibarium was live and operating well. Kusama also confirmed the working of the Shibarium-ETH bridge.

As usual, whales or large holders reacted in the way that was expected when new developments arose in the market, shifting their funds.

According to IntoTheBlock data, in the days after the Shibarium relaunch, Shiba Inu inflows were up a whopping 1,173%. The Large Holders Inflow metric from IntoTheBlock tracks funds flowing into addresses belonging to whales or large holders.

Shiba Inu saw massive inflows on Aug. 31 as nearly 4.35 trillion SHIB flowed into whale wallets. This contributed to the massive spike in large holder inflows.

In an unusual move on Aug. 31, an unknown SHIB whale moved nearly $38 million worth of tokens. Crypto data tracker Whale Alert reported this as 4,642,530,677,374 SHIB worth $38,057,145 being transferred between unknown wallets.

Shibarium attracts 1 million wallets

With over 1 million wallets, Shiba Inu's Layer 2 blockchain Shibarium has hit a remarkable adoption milestone.

Shibarium1, a member of the Shiba Inu team, calls attention to this fact and also reveals that Shibariumscan, the blockchain explorer, has gotten a new look.

Shibarium Hits Big Milestones With Over 19 Million BONE Delegated

The Shibarium network is seeing astonishing growth, according to the most recent data from blockchain explorer, which shows that there are currently 1,005,459 interacting wallets.

In addition to this, Shibarium has seen a significant increase in transactions. In total, the network has processed 765,912 transactions and 418,693 blocks.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.